Why Export? How exporting can benefit your E-commerce
How Exporting can be Beneficial for your Business
Managing an E-commerce site offers a unique opportunity to target and acquire customers from all over the world relatively easily. However, the idea of targeting a foreign market can be daunting to those who have never ventured into international waters. The legalities and complexities of exporting internationally can scare some away, but there are plenty of benefits to exporting internationally.
Exporting internationally can be incredibly profitable for those brave enough to try. In fact, companies that export are 17% more profitable than companies who stay strictly domestic. This is largely due to the fact that 95% of the world’s consumers live outside of the United States. That’s a lot of potential customers.
Foreign markets can also be used to smooth your business cycle during slow months when sales are typically lower. You’ll be able to use your production capacities to their absolute maximum and reduce the downtime needed during these typically slower months.
Though your business might be doing very well in domestic markets, they’re rarely static. There is also the inevitability of unstable markets to consider. The best defense of your local market is to export internationally.
But markets change, even ones that aren’t typically volatile. Competing globally is the best defense against a cheaper foreign company threatening your local market. Furthermore, exporting internationally improves your domestic business.
By testing the waters overseas, you improve the marketing, management, and intercultural skills of your business, thus making your business more profitable in the long run. This added value increases the sale price of your company (should you decide to sell, of course) and it adds value to your intellectual property, as you would be able to better protect your brand internationally.
There are several misconceptions concerning exporting internationally, but the truth is that more business and customers are thinking globally, and it’s becoming easier than ever to reach anyone in the world.
Seven Common Export Misconceptions
Starting a business takes a certain amount of courage. There are always thousands of little questions in the back of your mind: “What if I fail? What if my business isn’t successful? What do I do then?” When pursuing international markets, the same types of questions pop back up to discourage would-be exporters from attempting. However, the most common arguments against exporting are actually misconceptions. It is possible to export, and yes, you can do it too:
These misconceptions and others are the most common ideas that prevent successful business owners from attempting to compete globally. If you had the courage to start your business from scratch, you certainly have the courage to export. Besides, it’s far too profitable a possibility to not consider!