With around 5 billion people sharing the online space, it’s little wonder that many online businesses and ecommerce platforms set the goal of going global. Making your online business open to international prospects means increased revenue. And considering how quickly international ecommerce markets are growing, you don’t want your online business to miss out on a wider pool of prospects. So, are you thinking about attracting international traffic for your online business? Here are some preparations you must first do.
1. Speak their language
Reports indicate that 72% of global customers will likely complete an online purchase if the information is presented in their language. And localizing your online business or website is the best way to reach them in a language they can understand. First, identify where your target international customers are and what languages they speak. Next, localize your online pages to suit their languages. You can take advantage of translation services from companies like Het Vertaalbureau to help with localization. If you’re targeting several languages, you can create an easily accessible menu on your website where potential customers can find their languages with ease.
2. Study the international market
Before taking your online business to the international scene, you need to do market research. First, you want to know if there is a market for your service or product. And your research should show you what level of competition you may be up against. That is especially important if you’re expecting to compete with local brands in those markets. Your research should also help you determine your international prices, even if you already have set prices for your local market. It also helps to understand the different cultures, climates, etc. These can also affect your ease of doing business in some international markets.
3. Provide suitable payment options
Payment is a crucial stage in any transaction, as it’s the final step to converting an international prospect into a customer. While you can choose different online payment options, payments differ from one country to another. Credit cards and online wallets are popular in some regions, while some other countries focus more on cash-on-delivery. To know what payment options to provide, you need to know the payment habits of your target countries.
4. Don’t forget the legal requirements
The international market is governed by laws, which differ from country to country. So, before you start selling to foreign markets, you need to know what appropriate documentation you need to qualify you to do business transactions in those countries. Some countries may require you to have specific business licenses to operate in their countries, even though you’re working online. So take the time to research what legal requirements you need to meet in each target country.
5. Set competitive prices
Ensure that your products are reasonably priced for the international market. You may consider adjusting your prices in some markets to stay competitive. You may also consider factors like custom fees, taxes, international shipping costs, etc. These can affect your prices and sales.