Five steps internationalisation plan
E-commerce does not recognise borders - from the domestic market to international growth!
Ecommerce market grows year by year. A cross border online store offers unseen opportunities, as well as challenges. The internationalisation of an online store’s operations has never been easier, at least in theory. Cross-border e-commerce market has huge opportunities. OGOship has collected a five steps internationalisation plan to assist you to grow your business.
Step 1. Outsource logistics
Free up your time for the essential, in other words for meeting customers and developing the online store. The best way to accelerate the growth of an online store is to focus on the essential, i.e. the customer that creates a cash flow. Unfortunately, the owner of an online store often spends his/her time packing packages, editing orders, ensuring packaging materials, as well as processing returns, accepting goods and shelving.
Outsourcing logistics allows for growth. A skilled logistics partner scales according to your needs. Warehouse space, labour and several transport options are available for your needs. You do not need to consider seasonal changes or holidays, you can grow the amount of orders or stock as quickly as you like, and your logistics partner will happily help you in developing growth while ensuring an efficient logistics chain.
Step 2. Select the target markets
Select a target market, where you seek growth. Familiarise in the market and your target group. Identify the consumers’ behaviour and adapt your marketing communications according to the market.
Remember that you can try out bolder approaches, as long as you analyse what produces desired traffic to the site in the target market and you strengthen the activities that best produce traffic and conversions.
Step 3. Campaign and increase traffic
Even the best online store will not cope with competition without continuous marketing and reminders. Sales require for your customer to reach your site and to browse through products. Focus marketing on different segments and analyse the actions that produce the best results.
One good method of analysis is RFM analysis, which aims to score customers on the basis of their probability to purchase. The term RFM analysis comes from the words Recency, Frequency and Monetary. The term also has a commonly used alternative, RFV analysis (Recency, Frequency, Value).
By scoring your customer on the basis of probability, you can focus actions in a timely manner, and you do not need to focus the same campaign at everyone.
Step 4. Create local online stores or a good international online store and improve conversions
Depending on the online store’s products, it is worth carefully considering, whether to maintain local online stores or build one international online store. Remember that your customers do not want to navigate in a confusing online store, where the currencies and delivery options are not clearly indicated. Be familiar with your target group and market - adapt your online store to these needs.
Step 5. Commit customers
At an online store, the most important customer is a buying customer. One, who you can get to purchase again and again. It is obvious that it is quicker to sell to an old customer again than to seek new ones online. Clarifying a customer’s customer lifetime value (CLV) is however something that many online store owners do not carry out, since their attention is unfortunately often focused on monitoring short-term one-off sales. One of the most important requirements for growth is to find the methods, which ensure a customer’s commitment to purchase again.
The internationalisation of an online store has never been easier - at least in theory. Choose the best partners to support your growth! OGOship supports your growth by ensuring competitive shipments around the world, as well as by making flexible resources available to you.