April 20, 2024 Breaking News, Latest News, and Videos

How to Make a Small Business International

Small and medium businesses play a critical role in the global economy. However, now the market is becoming larger in retail and eCommerce: small businesses are closing down, unable to withstand competition with large players. This trend exists all over the world: large online stores are growing most actively, while large offline retailers, which began to develop digital sales channels during the crisis, are replacing small players. At the same time, small and medium-sized businesses are the driving force of the global economy: they contribute to the development of innovations, the creation of new jobs, and an increase in the middle class. Here are the tools that will allow small and medium-sized companies to remain competitive in the international market.

1.    Invest in mobile technologies

Mobile technologies are rapidly gaining popularity, and consumers around the world are increasingly using mobile devices for shopping. For example, during the last year, the volume of mobile payments through PayPal grew by 54%. The growing popularity of smartphones is also leading to the widespread penetration of the mobile Internet. This trend will only grow, bringing new solutions to the business world. Just 20 years ago, it was impossible to make really cheap calls to Eritrea, but now it is possible with the development of mobile technologies.

2.    Determine the value proposition of your company

At the initial stage, it is crucial to understand whether, in principle, your company is ready to enter the international market. Do you have a product or service that is in demand in the domestic market? If so, then the chances of success abroad are also high. Conversely, when there are problems selling a product locally, entering the international market can be a dubious decision.

3.    Define the most suitable target markets

Out of hundreds of countries, you will have to choose 1-3 where you can get started. How to do it? We recommend studying the international flows of exports/imports of goods or services, but first of all, consider the markets from which you have recently received inquiries or with which you have personal experience of interacting. Also, pay attention to the markets:

  • With free trade agreements with your country;
  • Which are located nearby and are easy in terms of logistics/transportation;
  • With which there is a cultural similarity;
  • In which there are insufficiently developed opportunities for promoting end products.

In the first stage, 10-15 potential markets can be selected, and then the criteria for a deeper comparative analysis will have to be determine

4.    Determine marketing strategies for your products

The key question at this stage is what strategy in the new market will help you succeed. It is necessary to determine the way of positioning products, dealing with pricing, channels, and mechanisms of promotion. There are various modes of distribution in new markets. SMEs usually use the following: agent, distributor, and e-commerce. The challenge for a business is to choose the way to market that best suits the company’s niche, its products, and its available resources. Considering these factors, partnering with a full-service ecommerce agency can offer comprehensive solutions from strategy and branding to development and marketing.

Tags: in News
Related Posts

Make Science Your Destination This Summer

April 19, 2024

April 19, 2024

Destination Science is the fun science day camp for curious kids with over 15 STEM activities weekly, three science stations...

Prime Time Sports Camps Coming Soon

April 19, 2024

April 19, 2024

Prime Time Sports Camp has remained a constant in the everchanging camp landscape for over 30 years by following this...

Groundlings Summer Improv Classes Open April 2

April 19, 2024

April 19, 2024

A summer of improvisation is around the corner at The Groundlings. Three months of summer class offerings for teens will...

Coming to Venice for 4/20? Visit your original cannabis locals! Specials! Live entertainment @4:20pm  Doors open at 10am!!

April 19, 2024

April 19, 2024

Coming to Venice for 4/20? Visit your original cannabis locals! Specials! Live entertainment @4:20pm  Doors open at 10am!! Free goodies!!...

Report: Video Game Mogul Lists Palisades Home for $9.2M

April 19, 2024

April 19, 2024

Built in 2018, the Wood-Shingled Home Spans 7,000 Square Feet across Multiple Levels Dan Houser, the English video game magnate,...

Venice Kush Hosts “The Real Deal” Cannabis Celebration at the Beach

April 19, 2024

April 19, 2024

A Day of Education, Innovation, and Community at Venice Beach Venice Kush is gearing up to host its much-anticipated “The...

Get Jokerfied with The People’s Joker Director Vera Drew Interview; Now Playing at the Nuart Theatre

April 19, 2024

April 19, 2024

Vera Drew on Crafting a Trans Supervillain and Creating Comedy Chaos By Dolores Quintana The People’s Joker is an explosive...

Join Jerry Rubin for the Earth Day Tree Hugging Gathering in Santa Monica

April 19, 2024

April 19, 2024

Celebrate Mother Earth’s Splendor at the Iconic Moreton Bay Fig Tree Tree lovers, environmental enthusiasts, and advocates for Mother Earth...

Nicolas Cage Stars in Arcadian: A Bewitching Apocalypse

April 18, 2024

April 18, 2024

New Horror Film Delivers Solid Monster Movie Experience Arcadian is a new horror film starring Nicolas Cage (Dream Scenario, Mandy),...

SMC to Host Applied Music Showcase in May

April 18, 2024

April 18, 2024

Highlighted Students Set to Perform a Variety of Songs, Instrumental Solos, Ensemble Pieces, and Original Compositions Santa Monica College’s Music...

(Video) Award-Winning Pianist to Premiere “Rocket Man: A Live Orchestral Experience” in Santa Monica

April 18, 2024

April 18, 2024

Classic Songs Will Include “Crocodile Rock” and “Goodbye Yellow Brick Road” @smmirrornews “Rocket Man” is coming soon to Santa Monica...

Agreement Between SMMUSD and Malibu Moves District Separation Efforts Forward

April 17, 2024

April 17, 2024

The Agreement Awaits Approval by Both the Malibu City Council and the Smmusd Board of Education The City of Malibu...

Michael’s Santa Monica Celebrates 45 Years with Culinary Extravaganza With Famous Chefs

April 17, 2024

April 17, 2024

Iconic Restaurant Hosts “Great Party!!” Benefitting No Kid Hungry Campaign  Michael’s Santa Monica is set to commemorate its 45th anniversary...

Los Angeles Times Presents Star-Studded Lineup for 29th Festival of Books This Weekend

April 17, 2024

April 17, 2024

Over 550 Writers and Celebrities to Grace USC Campus for Weekend Extravaganza The Los Angeles Times has a stellar lineup...

Girls Learn Self Defense at Empowerment Summer Camp for Girls

April 17, 2024

April 17, 2024

This summer, girls are invited to explore practical self defense training at SHIELD Women’s Self Defense’s 2024 Empowerment Summer Camp...