Identifying the best markets to focus on, and setting some goals upfront, are essential when it comes to embarking on food and beverage exporting. Export Connect’s Najib Lawand reveals some of the key steps in this second instalment in our six-part export series.
In setting goals for 2019, it's important to look five years ahead to plan where you want your business to be. This overarching aspirational goal means knowing clearly where you want to go so you can take the first step to get there.
Make your goal sustainable and realistic. Exporting to the international market is a significant investment. The foundations for success are a strong home base, and a strategic approach that is carefully thought out and managed.
Review your performance
If you are already exporting internationally, now is a good time to review your performance in different markets. Even if you are new to exporting, doing this exercise for your home market is crucial in understanding your strengths.
Identify the countries where you are performing well (leading markets) against those where performance is lower or where your goals have not been met (lagging markets).
At home and abroad, identify both the factors you need to improve and the achievements you can build on. There are several ways to look at performance across multiple indicators.
Sales per capita show you how well your products are performing in a particular country. Market share is a measure of the growth of your brand in breaking through.
If you examine the growth in your category you can see if this is a country with an expanding market for your goods. Increases in sales help you evaluate your distribution and promotion tactics.
