If you want to expand your business beyond your borders, a good place to start is selling in Europe, as its market has not stood still and has been growing steadily over the last decade. This market is unique to the EU and you can benefit from it remarkably, as most products can circulate freely, without any additional costs and without restrictions, except for some rules for products that have special taxes, such as chemicals, and different VAT obligations.
Companies or businesses that take the step towards internationalisation and sell in Europe seek to increase their number of customers and diversify their brand or product, i.e. to grow and consolidate in the European market. To ensure their success, they carry out the ABC of any business strategy that intends to expand. Find out how it works!
Steps to make a D.A.F.O.
The internationalisation process does not have to be complicated and confusing. It should be a strategy like any other, but focused on expanding beyond your borders.
For this, the best thing to do is to carry out a D.A.F.O. in order to anticipate any unforeseen event or inconvenience that may arise in the country where you want to settle.
On the other hand, it will also allow you to know the competitive advantages and the differences compared to the competition that you will find in this foreign market. With a D.A.F.O. you will be able to discover your weaknesses and strengths, as well as the threats and opportunities of this new territory.
Let’s see how to do the internal and external analysis of a D.A.F.O:
Internal analysis
In the internal analysis we will look at the weaknesses and strengths of your business. First, the weaknesses that your business will have to face in the international market. Knowing what these are, it is vital to improve or eliminate them.
A weakness would be, for example, the high price of your product, which cannot compete with what they cost in that other country’s market.
Whereas with strengths, you will be able to know what makes your business stand out. These are the strengths that will make you succeed beyond your borders. When you know what differentiates you from your competition, you can use this tool to achieve international success.
External analysis
The external analysis tries to find out what are the threats and opportunities that your company or product has in the international market.
Threats will depend on the context in which you are going to operate. For example, if there are many competitors in that country’s market.
On the other hand, there are the opportunities, which are certain elements of your environment that can play in your favour and benefit your company or product. As an example, in the European market there is a high demand for sustainable products due to the high social awareness of its inhabitants.
Keys to start selling in Europe
When it comes to knowing how to start selling in Europe, many questions arise for Spanish companies that have not yet decided to take the big international leap. To make it easier for you, we will give you several keys to start your journey through European countries:
Study the new international market
In order to succeed in the international market, you must first get to know it very well. In order to avoid rushing and choosing a country for the wrong reasons, the first thing to do is to find out if there is a demand for the product or service you offer, what the competition is and to make a D.A.F.O. to analyse the scenario you are going to face, as well as to be clear about the commercial characteristics of the country where you want to establish yourself.
Choose the right time to sell in Europe
There are no magic formulas that will tell you the exact moment to enter the European market. However, there are elements that are valuable for making the decision, either when we have a consolidated company and the need to expand arises or when our analyses have shown us data that indicate that our product can work very well abroad.
Analyse the characteristics of our potential customers
To be successful, we depend on new consumers and we need to know everything about our potential customers. The strategies used are surveys and behavioural studies, the results of which can be used to adapt the service or product to the demand in the new country.
Get to know the regulations and legislation of the new country.
Each country has its own rules and legislation governing the financial market and to enter this territory you must know all the procedures and aspects that are vital to begin internationalisation.
Image: Selling in Europe will allow your company or business to grow.
Sell in Europe thanks to e-commerce
Due to the boom of e-commerce in Spain, many small and medium-sized Spanish companies have started to sell beyond their borders, using marketplaces and social networks as a way to do so.
Online sales increased by the equivalent of five years in 2020 alone, and more than 70 % of European shoppers order online from other countries.
For example, in 2019, of the more than 9,000 SMEs based in Spain, half exported their product worldwide, with more than €500 million in sales. On Ebay, the figures are also quite promising for Spanish e-commerce, with more than 79 % of Spanish professional sellers using the platform, reaching 190 countries.
Do you need help to sell in Europe?
At EPBS we help your company or business to grow!
We encourage the growth and internationalisation of your business so, with our European account management to make it easy for you, you can sell online on Amazon all over Europe.
Contact us and we will boost your brand in Europe and give you the best advice.
Let us become your partner in the distribution of your products nationally and internationally!
