With e-commerce growing by the minute since the pandemic, making products available to as many potential customers worldwide as possible is an essential part of doing business. Although selling products across borders requires research and planning, the payoff of expanded customer bases and markets is well worth the effort.
The online Bachelor of Science (B.S.) in Professional Sales program at William Paterson University emphasizes the advantages of selling globally — especially with its Global Perspective in Sales course, which introduces students to the key elements of conducting global business in the internet age.
Build a Global Budget
Selling products internationally is more manageable than ever, but there is still much work to do before businesses can make global sales a reality. Because international customers largely shop online in their language, providing the option of different languages by optimizing their websites is an important first step.
Market research for potential new regions to expand their business can help companies ensure product relevance, tailor local content to different regions and measure sales outcomes. Social media is a good way for companies to get the word out without spending a fortune on marketing.
The next major hurdle to international sales is calculating currency conversion, shipping costs, duties and taxes. Larger businesses typically use fulfillment services to handle these considerations and make the process as smooth as possible. Smaller retailers can use established global marketplaces like Amazon, eBay or Etsy to handle the total costs of shipping worldwide to get started.
All companies must ensure that international business makes good financial sense after considering the costs. After alleviating these concerns, the door to going global is wide open.
Listen to Customers
Increased revenue is the main motivation for sales for any business, but the potential long-term benefits can be worth significantly more. For example, offering products that might not be available in other countries, or offering the same products already available in those countries at a lower price, can help businesses become a resource for international customers.
The chance for growth through customer satisfaction via positive reviews is exponential in new markets. This opportunity could lead to expansion into additional countries with more potential customers among some 4.66 billion active internet users.
With that in mind, customer satisfaction is the best way to grow an international market. Making swift changes to issues identified in customer feedback is essential to keep the momentum going
Enforcing Safety and Security
When close to launching international sales, companies must ensure they meet each country’s laws and regulations. Not adhering to these mandates could lead to legal concerns and prevent establishing or growing a market.
Avoiding infringement on individual property rights is also essential when selling across borders. Some databases offer freedom to operate searches, along with websites like the European Patent Office, for business owners to cover their bases. Companies should research what laws and regulations impact their business in various markets.
Customers also need to be sure they can shop safely online, especially when they are doing so internationally. Companies must ensure basic checkout safety before moving into a global market.
A Business Foundation
Understanding local, national and international markets is important to expanding customer bases for any business. As a sales professional, it’s also a good way to increase your knowledge and marketability.
William Paterson University’s online B.S in Professional Sales program uses experiential learning to teach students to manage their organization’s talent and sales processes, develop their soft skills and improve the customer journey to achieve sales excellence. On top of adapting faster and experiencing less turnover in the field than peers without a sales education, sales program graduates develop the professional skills and international business know-how needed to succeed in this digital age.
Learn more about William Paterson University’s online B.S. in Professional Sales program.
