UK BUSINESSES THAT EXPORT TEND TO BE MORE SUCCESSFUL.
They are 70% more productive, employ more people and are more profitable than non-exporters - so there's compelling reasons for SME's to export* (*Source - ONS July 2018)
It's obvious why. Their potential market can be in the hundreds of millions, not just millions. And it's not just product companies, it's service companies too. A consultancy company can generate thousands of enquiries through You Tube and Facebook without the hard yards at local networking events. So if you're thinking about exporting - or looking to scale-up your international revenues - here's 5 things that successful exporters get right:
1) The Same Positioning Worldwide:
The same product quality, the same emotional appeal. Think Disney or McDonalds. Slightly different characters or menus around the world, but the positioning remains the same. You know what to expect. That's important when thinking about pricing, packaging or quality for exports.
2) Focus on a Single Product Category:
Pretty obvious this. Focus upon your silver-bullet category rather than trying to do too much. Even huge Global Multi-nationals do this when they start to export. Think Dyson. An absolute focus upon one single product category before they stretched their brand into hair dryers and fans.
3) The company name is the brand name:
Sell standard products under a single brand umbrella. Remember when big car companies used to focus upon advertising car models - now the focus is upon the company name/brand. When Lexus or BMW advertise these days, it's about the single brand rather than the individual product - quite simply - because it's much more cost-effective that way.
4) They think globally even if they're working from a laptop:
Successful exporters develop products and services with the mindset that they are for a global market from drawing-board to launch. There's no tinkering or tweaking to make them fit for exports. Right from the get-go they are ready to go global, and these days, fast is good. In fact fast is increasingly essential.
5) And finally, act globally:
Consumers expect brands that export to act responsibly and to lead on social responsibility. Commit to the environment because we're not just exporting goods, we're potentially exporting waste.