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    How to develop an export marketing plan

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    Story outline

    • Digital presence greatly helps in marketing.
    • one-size-fits-all strategy doesn’t work in exports.
    • Highlighting USPs of the product helps in its marketing.
    There are myriad challenges when planning and executing an export marketing plan.
    It is important for an exporter to have clear goals and study the markets before starting an export sales plan. An export sale/marketing plan enables businesses to create a blueprint to sell its products overseas without much trouble. Success might be difficult to achieve for a business unless it has a clear path on how to navigate foreign markets.

    One of the first questions that will pop in your head when you create an export marketing plan is where to export? Avoid the top 10 countries in order to get early wins, suggests Amit Kumar, co-founder and CEO, MSMEx. “You should not make your journey tough when export markets anyway have higher uncertainties. The best way is to leave out the top 10 countries — like the USA, UK, Canada, Australia, New Zealand, UAE, China, Japan, South Africa, South Korea — and make a list of the rest of the countries where your product has potential,” he says.

    While the top 10 countries would surely have the highest demand, it also leads to heavy competition and demand for world-class quality. There is no room for mistakes in these top markets, which can be brutal. That might not be the best path for a newbie. “Hence, it is better to make inroads in the rest of the world. And once your business gains confidence and the product is able to fulfil demand, then start targeting the top markets,” he says.

    Another basic question is what product to export. If you are a company with a variety of products, Kumar suggests starting with your best product. This will give you confidence in quality, supply and after-sales support. “The export market typically demands world-class quality and is covered by cross-border norms. So, you should always start by putting your best foot forward,” he says.
    Customising is the key

    It is important that manufacturers realise that the one-size-fits-all strategy doesn’t work in exports. Milan Thakkar, CEO of Walplast, advises companies to be open to new ways of doing business and exploring multiple types of business opportunities. “Don’t assume that you can necessarily sell your product without modifying it and or its packaging,” he says.

    While presenting products, Kumar points out that it is necessary to highlight what is best in the product being exported. But entrepreneurs should not explain too much as that can lead to confusion or information overload. “Once we know what and how to talk about our product and our business, then we should finalise the marketing channel through which we can communicate effectively and efficiently. The most effective channels are trade events and exhibitions. These days, virtual events are also working decently because of the Covid situation,” he says.

    The pandemic has led to export operations seeing some changes, primarily due to restrictions on face-to-face interactions.

    Communicate clearly
    Kumar suggests that exporters need to focus on smaller order sizes with shorter cycles to begin with. At the same time, communication needs to be laser-focused. This helps in building confidence among buyers. He advises taking help of consultants and trade agents for this task.

    “Digital presences and digital profiles of business owners and their company provide good mileage in times when the deal-making customer is going to use digitally available information,” he says.

    While there is no rule book for trade in a Covid-era world, Thakkar says many organisers of big events have started online virtual exhibitions to grab business opportunities and people are participating in these events in a big way.

    What to keep in mind for a smooth export marketing plan:
    • To get early wins, look for countries other than the world’s top 10
    • The top economies may have great demand but can see brutal competition
    • Start with your best product as you will have a strong supply chain in that line
    • Be ready to make modifications in your product as the need arises in the new markets
    • Do a thorough study and analyse the long-term plans of your company in the new market
    • Keep a realistic forecast of your sales and revenue for the next 3-5 years

    There are myriad challenges when planning and executing an export marketing plan. Thakkar points out one of the important ones: small and medium businesses facing challenges in product modifications and lack of knowledge.

    “Finding information on foreign markets is difficult and time consuming. This is followed by lengthy licensing and documentation processes for the small and medium enterprises looking to export,” he adds.

    Kumar says this observation is spot on. Lack of knowledge is the most hazardous and detrimental obstacle as everything else can be solved. “In global markets, your competition is among the best ones. And information and knowledge are the best tools to win,” he adds.
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