The Worlds Middle Class in 2020
Exporting is a long term strategy, if you are looking to get sales on the international market immediately you either need to be apples newest product, or a fast food chain. This process takes a little time but is well worth the time and effort. The number one thing we stress here at WestWind Group is yes you might be selling domestically and cannot keep up with the pace but what happens when the US market turns off? Do you have a strategy to keep employees at your company employed? Let us look at some actual figures
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of the world’s growth in the middle class will be located in East Asian, Oceania, Asian (think Australia west to India) and almost 73% (this is staggering) will be located outside of the U.S. This isn’t just percentage this is disposable income growth. Imagine a middle class growth by 2020 that will outnumber the entire population of the United States, and how many people do you sell to in the US?
Conservatively let’s put this into numbers for a Small – Medium Enterprise (SME).
Case Study:
Say you are a manufacturer of a great product have a staff of 12-15 people and sell fairly well in the United States with a small sales staff. You are at around 60% capacity in operations and looking to grow. The US market is saturated but you just starting getting calls from someone in Thailand who found your website and is looking to buy your products directly. What do you do? Using our Target Markets program we can easily define your market potential and see if Thailand is the smartest first choice market. The more basic question is this a real person behind this email? We will cover that later, but let’s say the Target Markets program worked well and you found a distributor who buys $20,000 a month from you over the next twelve months.
Annual US Sales: $5,000,000 (to how many clients 20 to 40)
Staff: 5 to 7 sales staff
Annual Int’l Sales: $240,000 (1)
Staff Added: ½ part-time coordinator based in the Philippines who is virtual and on call 24/7
Pretty surprised by the staffing number? We thought so, and most companies do not understand that you don’t need a large staff presence in Asia to do business; you don’t even need a full-time presence, we can help you plan a virtual call center staffer who will handle questions for your sales channels and forward directly to you the needs of your distributor. You need one coordinator to help in the region among multiple distributors because the model is really based in the power of the distributor in the market, just make sure senior staff take a trip once every 12 to 14 months to the market to meet and continue relationships with your clients.
So we come to the present day issue that many countries in Asia and the rest of the world have two things; disposable income, and a desire for quality products.
How do you build this model, can it be done quickly?
Glad you asked that question. First you need to know your product(s) but you need to be ready to put some effort into creating a global brand.
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Thank you for contacting WestWind Group about our Target Markets Program for companies looking to export to foreign markets. We will be in touch with you shortly to discuss the best approach for your company to start exporting not just efficiently but effectively. A few things you could do to help start the process.
1. Think about where you want to start exporting. If you don’t know that is fine, but with your experience in the Industry what markets look the best to you.
2. Think about time frames for product manufacturing or retrofitting what are your lead times?
3. Do you attend any trade shows either recently or upcoming?
We will be in touch shortly to discuss!
Regards,
WestWind Group LLC’ captcha=” form_align=” color=”]
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