Selling Internationally

Selling Internationally

  • Selling Products.

    American innovation and quality are in demand in markets the world over. In the past five years, Virginia companies have increased exports 56%. In 2009, Virginia companies sold over $15 billion worth of products. VEDP International Trade offers programs and services that can show you how to increase your international sales, with expert help and market research. Our programs are available to firms with the commitment to grow their business through international sales. Learn more from your international trade manager.

  • Selling Services.

    Service exports make up about one-third of all U.S. exports, and recent estimates put Virginia's share at just under $12 billion! This growing global market in services is available to you and your business, and VEDP International Trade is here to help. Through our programs and services, Virginia companies can gain the knowledge and resources to increase sales of services such as consulting, engineering, technology and IT services internationally. VEDP assistance can be tailored to your specific international sales strategies. Contact your international trade manager today.

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Exporting 101
Exporting 101
1. Should you be exporting?

Why should a Virginia company consider exporting? Increased sales and profits, for starters. Virginia manufacturing companies sold $11.6 billion in exports in 2006. And Virginia firms exported an estimated $6.5 billion in services 2003. Profits generated by that level of exports can be substantial. Today, Multimodal transportation, computerized and real-time shipping documents, new trade agreements, electronic banking—and the internet—make it much easier for most businesses.

Exporting 101
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Successful exporting requires a significant commitment. If you envision selling internationally becoming a part of your company’s sales, then focus, planning and preparation are required. Your company should meet at least two of the following guidelines:

  • Profitable in the U.S. market
  • Over 3 years in operation
  • Specific product benefits
  • Niche expertise in your professional service
Exporting 101
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To evaluate readiness to sell internationally, consider these three major areas:

  • Management Committment: Senior management must be committed to selling internationally, and must make resources available for a sustained effort.
  • Financial Committment: It takes capital to export. Upfront costs include international travel, international shipping, translating print materials and websites and sometimes involves training and hiring additional staff.
  • Time Commitment: It often takes one to three years before a company sees a payoff. Business moves slower in many parts of the world. In addition, selling internationally requires the development of personal relationships with customers and partners.
Exporting 101
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  • If your product/service is in demand domestically, chances are, international customers would value it as well.
  • Is exporting consistent with company goals?
  • If your product/service has seasonal cycles, perhaps selling internationally could help level out the sales process, as various regions of the world have different seasonal demands.
  • "Adjustments" may be necessary for your products or services, such as patent or trademark protection, product labeling, adding metric measurements, or obtaining foreign standards and approvals.
Exporting 101
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Virginia businesses that are ready to sell internationally have a competitive advantage— being able to call their local VEDP International Trade Manager for assistance every step of the way. VEDP services and programs (described throughout this web site) are available to Virginia businesses. Visit your local Trade Manager’s web page or call us at (804) 545-5764 to find out which international markets are favorable for your company’s products/services.

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