8 Strategies for International Online Selling Success
Here are strategies for online selling internationally that you can implement in order to boost your odds of success.
Choose an Internationally Established Online Selling Marketplace
Entering the global market in the 21stcentury doesn’t have to be complicated or expensive. With the surge in popularity of online marketplaces like Amazon, Etsy, and eBay, you can simply establish a seller account and begin creating listings for each of the products that you want to sell and ship internationally.
Identify and Select the Right Markets for Your Business
What sells like hotcakes at home may not be so popular abroad. So, you need to consider not only language barriers, but also cultural differences, political and economic policies, and buying preferences before choosing the inventory that you will promote abroad.
Adapt to Each Market’s Needs
Once you’ve done your research and determined what markets you’d like to enter, it’s time to adopt to, and meet, their needs. Consider translating your product listings, hiring customer service reps who speak the language and researching the competition, so you can set more attractive prices.
Research Applicable Laws and Regulations
There are import, export and customs laws that will affect your ability to distribute certain products abroad, and there are also taxes, duties, and other fees that you may need to consider. There could also be environmental regulations, privacy and security measures that need to be met, and packaging, safety, and labeling requirements.
Remove the Headache of International Shipping
If you’re using Amazon to sell your goods abroad, you can sign up for FBA and FBA Export, which will determine the export-eligible products in your inventory for you. FBA also lets you ship your inventory to the appropriate international fulfillment centers, so orders can be shipped to customers locally.
Research your competition and its pricing on comparable products. Then consider your costs, from production and labor to marketing and distribution, to set the right rate that will ensure the highest profit margins. Don’t forget to also factor in currency exchange rates, which can be volatile and require that you regularly adjust your pricing accordingly to ensure profitability.
Focus on Customer Retention
Provide high-quality products at great prices with fast shipping. Encourage customers to join your mailing list or follow you on social media and reward them for shopping with you and referring their friends. Again, a service like Amazon FBA can help you get the job done efficiently.
Promote, Promote, Promote
Purchase sponsored posts on marketplaces like Amazon to ensure your products show up on search results pages and relevant product pages. You can also encourage customers to write product reviews, or you can work with influencers and purchase ads on social media. And you can even set up promotions, special deals, and contests to generate interest and interaction from customers.