Nostrums do not exist. ‘Best Practices’ can – in the majority of cases and if at all – only be followed by larger corporations. What can small and medium-sized companies do then to make use of the worldwide chances ?

Present Situation

Every company has its own ‚finger print‘, which consists of the manufacturing possibilities, the products, the personnel as well as the financial possibilities.

This ‚finger print‘ is absolutely unique and the starting position, which hast o be defined in order to use it as a base for everything.

By the way: This is as well true for the home market as for every foreign market.

The worldwide client base

Due to the ongoing globalization (besides of Europe lately the BRICS – Brazil, Russia, India, China and South-Africa become more and more important) SMEs have to ponder on how to get clients from these areas.

Germany and/or Europe are of high interest to other foreign countries, however, for European companies this is different as they are mostly known there already and they should look further into other areas to succeed further.

Success requirements

1. Want and realize

First of all the entrepreneurial decision has to be made: YES, I do want to enter the global markets because I have – first: just generally – realized the chances there.

2. Market knowledge

For any market and market segment supplied already, independent where in this world, even in the home market, it is important to be informed about their ‚actual condition‘. This refers as well to existing market participants as to new or even deleted ones. Basing on this information the company can react fast on changing market conditions.

For new markets or market segments this data base has to be elaborated first, i. e. who could become how, where and why my client.

This information base has to include data about the existing competition, possible sales partners, eventual synergies or cooperation partners and much more – especially also a broad knowledge of the potential clients (their size, the number of employees, markets supplied by them, their market trends, and so on).

Before an ‚unknown‘ terrain is entered such information is necessary in order to develop a good and low-risk procedure.

Questions regarding the political stability, payment moral and payment procedures as well as possible technical features needed complete this step.

3. Procedure

As mentioned before nostrums or best practices do not exist for that.

The possible steps – upon finalization of this data base - include e. g.

• Preparation or existence of a meaningful website , which can easily be found in the most important search engines. This platform is available to potential clients worldwide, 24 hours per day and 7 days per week. Precondition here, however, is that, it is customer friendly and informative, i. e. that questions or problems looked for by the visitors are addressed and solved already on the website resp. a possible solution is demonstrated in a convincing way so that the prospects either contact the company or even buy directly.

A website does not replace marketing, however, marketing without a website is incomplete.

• Visit of home and foreign exhibitions – initially, due to the cost, as visitors, later possibly as exhibitors. During the first visits already expert discussions with potential clients are possible which in-turn give a lot of information regarding technical and/or commercial aspects and which even can be useful for the present website.

• Direct contacts to prospects, distribution partners or even cooperation partners by email or mail, whereas one can refer to the information on the website or even address questions of a possible cooperation.

4. Marketing planning

A detailed marketing and selling procedure/planning (more information see the writers‘ site) summarizes all findings and gives an overview of the steps to be undertaken, the cost for them as well as timetables and much more.

At the same time this serves as a permanently adjustable ‚instrument‘ which contains also alternatives in case a foreseen procedure does not lead to the expected results.

Motto: The better the planning, the easier, time- and target related as well as cost efficient will be the implementation.

5. Implementation

This should be clearly defined and be made using ‚to-do‘-lists. Thereby tasks and responsibilities as well as time-tables are clearly passed on to individuals and thus practically success becomes ‘predictable’.

Conclusion:

With respect to a healthy and continuous growth of a company, getting a broader base (and making it at the same time more recession-resistant) as well as the security for the working places – but also to follow a low-risk procedure – a thorough planning , basing on the possibilities of the company is advisable. This should then be followed by a consistent implementation without becoming upset by possible set-backs.

Michael Richter - International Marketing- and sales consultant - concentrates for more than 35 years on strategic marketing planning as well as marketing and selling of investment goods and long-lasting consumer goods in/to all 5 continents. He offers this knowledge and experience to his worldwide clientele. In 1991 he started his work as an independent marketing consultant, especially for SMEs worldwide. In addition he holds national and international, internal and external lectures on international marketing matters - especially in/for the European Union.