Before you even think of using the internet to export your goods or services, you must be sure that there is a demand for your products in the country where you intend to send them. It will be useless to spend your time thinking about the littlest nuts and bolts regarding your export business when there is nobody in that country who is interested with what you are offering.
Use Internet Search Engines
If you want to export your product in a certain country, the first way you should use the internet is to go to your favorite search engine and get salient information about that country’s demand for your product.
It is better to search the internet for this information rather than publications and books since all information published in the internet are mostly current. You need current information in order for you to make the right decisions.
Information You Need to Know
Some of the most important things you need to know are:
- The present economic status of the country you plan to export, and the economic projections made on it by reputable global economic and financial institutions such as the World Bank, IMF, ADB, Standard and Poor ratings, Fitch ratings, Moody’s Investor Services and so forth.
- The present demand for your product or services in that country and the projected demand for the next 5 to 10 years.
- The current selling prices of your products or services to that country, and their projected prices for the nest 5 to 10 years.
- The tariff, income, business and all kinds of taxes and insurance you will be required to pay for your export business in that country.
- The current financial system implemented in your target country and how you as an exporter should conform to it.
- The laws of that country that you need to follow so that you can export your products and services to them.
- The cost of renting an office, or hiring a virtual office in that country.
- The cost of hiring a virtual staff, or a real office staff in that country.
All these things are not necessarily part of your export marketing plans, but they are vital if your export business to your target country is to succeed. In fact, this information will be our best guide if you will push through with your plan to export your products or services to that country or not.
As this information cannot just be gathered in a matter of hours or even days, you should put enough time for this activity. All the information you must gather should be current, and verifiable. It is your money that is at stake so you need to be careful.