Industrial exporting is a key component of business competitiveness and economic growth. However, it can be difficult for companies to find foreign markets and overcome export barriers. Here are 10 ideas for improving industrial exporting:
1. Strengthen relationships with existing business partners:
Companies should work to strengthen their relationships with existing business partners, by improving the quality of their products and services, providing better customer service, reducing delivery times, etc.
2. Study emerging markets:
Companies should also seek to study emerging markets for potential new customers. These markets can offer interesting growth opportunities for companies, but often require significant research and development efforts.
3. Invest in research and development:
Companies can also improve their ability to export by investing in research and development. This can allow them to develop new and innovative products and services that meet the specific needs of foreign customers.
4. Train employees to export:
Companies should also ensure that their employees are trained for exporting. This can include training on the technical aspects of exporting, as well as cultural and language aspects.
5. Use export networks:
Companies can also use existing export networks to find potential customers. These networks can be trade associations, government agencies or business partners.
6. Reduce export costs:
Companies can also improve their ability to export by reducing the costs associated with exporting. This can include reducing transportation costs, simplifying customs procedures, etc.
7. Comply with local regulations:
Companies should also ensure that they comply with local regulations in the countries to which they export. This may include safety, health, environmental regulations, etc.
8. Establish strategic partnerships:
Companies can also establish strategic partnerships with local companies in the countries they export to. This can help them gain local market intelligence, reduce export costs, etc.
9. Use e-commerce platforms:
Companies can also use e-commerce platforms to reach new foreign customers. These platforms can allow them to sell their products online, which can be particularly useful in countries where access to physical stores is limited.
10. Participate in trade shows and fairs:
Finally, companies can also participate in trade shows and fairs to promote their products and services to potential customers.