Helping Manufacturers Reach New Markets- Lee Hackett

According to new figures released last week by the Forum of Private Business, many smaller manufacturers are struggling to get their products to market. More than one quarter of business owners surveyed stated that overcoming difficulties in reaching new markets was the top priority.

In my experience I have found this to be the case that smaller manufacturers view the export market with a degree of trepidation. There needs to be more support and clarity for manufacturers, so they have access to the knowledge of where to start and know realistically how much budget and time needs to be allocated to develop international markets.

I believe there are some fantastic opportunities for manufacturers of all sizes to penetrate emerging markets, so here is a list of the considerations that need to be taken onboard:

1. Do your research to ensure there is a market for your products
2. Make best use of government bodies, such as the UKTI, to help you research the market
3. Understand that sales will not be instant; it takes time to build a sales pipeline. View new international markets as a long term objective
4. Send time considering your company’s positioning in the market and accept that sometimes marketing literature needs to be adapted for the local market
5. Don’t sign a distribution agreement with the first person you meet, keep your options open
6. Create and develop as many channels to market as possible during the early days. This will allow you to develop a deeper understanding of the local market.