International Business and Technology Blog

Exporters: Where to Focus? Which Export Target Markets?

At IBT Online, when helping our clients Online Globally, especially new to export, and smaller businesses, we are often asked “Where to focus?”, and “Which export target markets”? A strategic question.

Nobody is better placed to respond than the enquirer themselves, with a little help! Nataly Kelly has written an excellent, well-researched, and resourced from her successful relevant professional experience, book entitled "Take your Company Global". See Harvard Business Review, LinkedIn and Amazon links below. I enjoyed the easy writing style, methodological and analytical approach, case studies, and key takeaways. If you are asking yourself those same questions, try Nataly’s MARACA model. It is a strategic framework that we hope will help guide you in determining the most promising target markets for your business. As Nataly writes, “Multimarket is the New Multinational”. So when you have decided on your target markets, our Online Global programs will deliver your “Multimarket” online presence to grow your exports, sales, brand and business internationally.

India has the second largest population on the planet, and its people are joining the online world by the millions! Not only are they becoming internet users, they are also participating in ecommerce! For U.S. exporters, India is an up-and-coming export market with ample opportunity for growth. If you get the online presence right, the market can be very fruitful. 

Spanish is one of the most widely spoken languages in the world boasting over 550 million native speakers across 21 countries. These numbers make the Spanish-speaking world an especially appealing target for exporters. But this major trade language has variations that impact your global trade and online strategy. What are the differences between Spanish in Spain and Latin America? How different is Spanish to English? And most importantly from your online point of view, will one Spanish website cover all Spanish speaking countries? We want to share with you some of our experiences in helping our clients to get found, be understood and do business in Spanish-speaking markets using their online presence. 

The United Kingdom is one of the largest economies of the world (ranked 7th) and the third largest ecommerce market globally. The UK is also amongst the most connected and internet-savvy consumers and businesses anywhere. Some 95% of the population access the internet regularly. For US exporters, the UK is a prime destination market: large, accessible and with a low language barrier. It's a great market for exporters, especially those that get their online presence right!

Spain is an attractive market for U.S. exporters for a few reasons - as a Spanish-speaking country with a population of 47 million, Spain can provide strategic synergies for U.S. exporters engaged in both Spain and Latin America. Spain has a diversified economy and a growing digital industry which also offers key opportunities for U.S. exporters! 

Use online tools to your advantage to be found, understood, and grow your exports in Spain!

IBT Online's services can benefit a wide range of American exporters, but certain types of exporters may particularly benefit from their expertise. These include:

1. SMEs often have limited resources and may lack the in-house expertise to navigate the complexities of international online marketing. IBT Online's services can provide SMEs with cost-effective solutions to establish their online presence, reach target markets, and compete with larger players.

2. Exporters targeting multiple markets: Exporters who are targeting multiple foreign markets can benefit from IBT Online's expertise in website localization and digital marketing. IBT Online can help these exporters create localized websites and implement tailored digital marketing strategies for each target market, ensuring effective communication and engagement with potential customers in different regions.

The United Arab Emirates and Saudi Arabia are two key markets in the Middle East and part of the Gulf Cooperation Council (GCC) which also includes Kuwait, Qatar, Bahrain, and Oman. Over 90% of the population in both countries access the internet regularly. For US exporters, the UAE and Saudi Arabia are great markets to enter because they are mobile, connected, and comfortable with ecommerce. If you get the online presence right, both markets can be very fruitful. 

Geographically interestingly positioned just off the east coast of China, Taiwan is a thriving democracy with a vibrant market economy and has become a very interesting target market for US exporters, with over 70% increase over the past 10 years. 

With over 86% of the population being active internet users, you cannot miss out on the power of digital tools to expand your reach and grow your exports in Taiwan! 

The infographic below will help you grasp and understand the potential of Taiwan's online environment, social media, and ecommerce.

Use online tools to your advantage to be found, understood, and transact your business in Taiwan.

Our infographic shows you:

Canadian companies that build a multinational presence through trade and diversification are more profitable, more stable and more resilient than companies that don’t. The access to talent and innovation they gain in building that footprint better positions them to compete in the future.

AT IBT Online we have partnered with the Canadian Trade Commissioner Service to provide information and support to Canadian exporters, enabling them to leverage the power of digital to grow their exports, sales, brand and business globally. 

Check out our Playbook for Canadian Exporters, and get in touch with IBT Online to discover how online business development tools will make the internet work for you 24/7, 365 days/year.

The B2B digital market is growing now! The global B2B ecommerce market is valued a $14.9 trillion and is five times greater than the B2C market. A report from BigCommerce stated that 87% of B2B buyers admit they would pay more to a supplier with a better ecommerce portal and experience.

The new generation of procurement leaders and purchasing agents have grown up buying online for personal needs. They expect to be able to buy online for business development as well!

Your website is the most powerful tool for building trust and brand awareness in your target markets and therefore growing your export sales pipeline. 

Check out our infographic and get in touch with IBT Online to discover how online business development tools will make the internet work for you 24/7, 365 days/year to help your grow your exports, sales, brand and business.