Not So Secret Tips from Successful NZ Exporters
Regardless of size top New Zealand exporters share a number of common behaviours that regularly put them on the path to success when developing new export markets.
They strive to ensure they are not “me too” suppliers only competing on price. So how do they make sure they put the right product in the right market with the right customers?
- Research underpins everything they do from choosing target markets to getting close to customers and users to work out if a valuable market opportunity exists and with who. Research comes in different shapes and sizes to match the size of the business but by creating unique insights they identify where their greatest opportunities lie and plans required to make the most of each one. They never enter a market unless there is a clear indication that they can differentiate and sustain a competitive advantage. And research never stops once they are in the market.
- They all spend time finding and qualifying the right market partners to execute their business strategy. Partners who understand the requirements for success and have the capabilities to work closely to implement the strategy. They then set very clear performance expectations before committing to any long term relationships and put in processes ensuring both parties are accountable. Commercials obligations of both parties are established early and then measured and jointly reviewed regularly.
- Successful New Zealand exporters (and in other markets) prioritise markets for development growth and take as much responsibility for growing the export market as their partners do. They invest in training, promotions and market support and become experts in the market to ensure they become an established brand in the markets they target. By going deep they build value for both the New Zealand business and their international partners and put in place structures to maintain their position before moving onto new markets.
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