Posted on: Thursday - May 21, 2015
Exporting can mean big business for Tennessee companies. In 2014 alone, more than $33 billion worth of Tennessee goods were exported to countries around the globe. Tennessee’s top export destinations include Canada, Mexico, China, Japan, Belgium, Netherlands, Singapore, United Kingdom, Australia and Brazil.
With 96% of the world’s consumers living outside the U.S., successful companies know the value of tapping into new markets. We asked some export specialists around the world - In your market, what is one thing that all successful U.S. exporting companies have in common? Here is what they had to say…
“Four factors of export success are: company (ready to export in all aspects), product (with unique selling point), market (suitable to the market with its specific characteristics and market entrance requirements) and people (intercultural communication bringing mutual understanding).”
- Linda, European Union
“All successful U.S. exporting companies have a website, online presence and marketing to support their export and business in the U.K.”
- John, United Kingdom
“For the China market, one thing that successful U.S. exporting companies have in common is their ability to adapt to the fast changing market situation. China is a rapidly changing market compared to other nations and successful export to this particular market requires quick adaptation to the market shifts at all times, which involves many aspects (such as pricing, strategy, market distribution, logistics, human resources, branding and marketing, etc.). If an exporting company is able to deal with this key issue, it will be able to see a long term export success in China’s market.”
“Successful U.S. companies that export to Mexico have mastered their patience and perseverance capabilities. Mexico is a complex market, has a slow motion way of doing business where personal relationships are crucial for commercial success. Companies who have succeeded have understood that it is a long term investment in terms of efforts, personalized customer services and flexibility in their business format and characteristics of the product or service they offer. Mexican clients are quite demanding and it is not easy to engage them into changing their suppliers or introducing a new product. First time exporters work hard to get the first good deal, but once they do it, their customers are loyal and committed. Nowadays the economy is stable, the population keeps growing and the consumer trends are becoming more and more sophisticated; so there are still a lot of opportunities from U.S. exporters to engage in selling to Mexico.”
For more information on exporting in Tennessee, please visit http://www.export.tnecd.com/#whyexport.