Uncover Business Opportunities in Crossborder E-Commerce
So, you’ve decided to begin selling your products to new markets.
Maybe you’re getting your e-commerce business set up for the first time, and you’re looking into the regions you’re planning to sell into. Or maybe you’ve served a specific market for a while, and you’re looking to expand.
International e-commerce is rife with opportunity.
There are customers just waiting to be served, and you may already have products they want.
But whether you’re going global or just looking to expand your customer base in your general locality, there are some important things to keep in mind.
Here are some questions to ask if you’re looking to sell to new markets:
Is There Demand For What You’re Selling?
This is likely the most important question you’ll be asking yourself as you look to expand.
If there’s no demand for the product you’re selling, no amount of promotion is going to generate a radically higher number of sales.
A market driven approach to deciding your products is the #1 best way to quickly become successful online.
There are a few different ways to research the market you’re planning to sell to. Consider the following.
- Keyword research. You can take advantage of a tool like Google AdWords: Keyword Planner to determine how many people are searching for terms related to your product.
- Google Trends. You can run a search with Google Trends to find out whether or not there is growing interest in your product or niche.
- Ad campaigns. You can direct traffic to a landing page via pay per click, PPC. Google ads or even Facebook ads are the most popular and they allow you to find out how much demand there might be for your product or idea. A good way to validate demand is to ask for email addresses from interested parties when they arrive on a landing page.
- Initiate a crowdfunding campaign. Kickstarter and Indiegogo are great places to go to validate an idea. Just keep in mind that running a successful crowdfunding campaign can be a lot of work, regardless of whether or not you have a good idea.
- Pre-orders. As with running ad campaigns, you can begin taking pre-orders to find out whether or not there is a demand for your product. This can help you save a lot of time, cost, and headache later on if it turns out there is no interest for your offer.
- Competitive analysis. Find businesses that are selling products similar to yours and find out how they’re doing. Analyze their reviews and ratings, social media following, and how long they’ve been in business. If they aren’t doing well, then there isn’t a very good chance that you will either.
Can You Sell Your Product In The Region You’re Looking To Sell In?
If global expansion is your goal, then this is a major consideration.
- Are there any regulatory issues that would prevent you from selling to that market?
- Does the offer actually translate well into other cultures?
Every country is different. They have specific rules around what can be sold and to whom. You need to stay on top of all relevant issues.
Can You Ensure Efficient Order Fulfillment To The Markets You’re Looking To Sell To?
Assuming you’ve found demand for your product in the region you’re looking to sell to, organizational infrastructure can still be a significant concern.
- Are you ready to sell to new markets?
- How well do you actually know them?
- Are you familiar with their cultural quirks, and do you know what customer expectations are going to be like?
Unless you have the right staff, the right knowledge, and the right processes and systems in place, you’re not ready to sell to new markets just yet.
If you’re looking for other solutions, it is definitely worth considering outsourced fulfillment.
You will still need to look into whether or not there’s demand for your product, but if you know that there are customers out there for what you’re offering, then it makes sense to trust experienced experts with the delivery of your orders.
When your ready to find out how easy it can be and partner with an international fulfillment company that can take your products around the world at reasonable rates and speeds, get a free consultation your Floship advisor here.