Good morning, noon and night! On the 13/05/2020 I listened in on a webinar for SMEs organised by the Department of International Trade in the UK and listening to their insights here is what I took note of for any smaller businesses out there looking to grow in this unusual time.
- Run your own website. People will go to other platforms like Amazon or Net a Porter for your products if they are sold there but it is important to own and manage how your website looks and the data it collects. Your website is where you can have best conversation with your customer.
- Local language – It’s important to understand what the local audience wants to see. In order to perform at your best you need to acknowledge and work with cultures and language within territories. Google translate won’t work for Germany for example, they are very detail oriented people and they want specific and accurate language when being sold to.
- Social media is changing as they have the customers now, they will shift to transnational platforms. For example to link products on Instagram you need to set up your business on Facebook, linking the two platforms together.
- It’s imperative to be compliant of legal and taxation laws across countries and to monitor changes in different countries you sell in to.
- Cost of acquisition online is going to increase with the increase online, a key element of strategy going forward should be selling into the stores you think fit with your strategy. it’s a valuable marketing piece. A question to ask yourself is, if these retailers are online is that going to effect your online sales. Could a strategy be employed like LuluLemon athleisure clothing who sell physically in Ireland’s premier department store, Brown Thomas but Brown Thomas do not sell LuluLemon’s online.
- If you get a change to go to a warehouse to understand someone else’s fulfillment service, it can be very insightful, how they drive efficiency and manage orders.
- Is your product wanted in that territory?
Hope this information is of some help to small businesses out there.
@IsobelBlack2 on Instagram!