Marketing and Selling in Global Marketplace for SMEs

What does digital transformation bring to SMEs?

• In a period where cross-border trade is particularly robust, online buying is on a global growth trajectory, SMEs are having trouble entering and competing in global marketplaces.
• Digital transformation has changed the business world to become more productive, more efficient, and most importantly to reach out new customers in global marketplace with minimal cost.

HYPHEN solution for SMEs

What should SMEs do to sell cross border:

• Consider pinpointing regional clusters of SMEs. They can be source of competitive advantage both from ecosystems and replication of business model perspectives.
• Determine what region offers the best global business opportunities for your company.
• Global research should be conducted to measure price competitiveness and required resource to have a meaningful cost/benefit analysis for key potential regions.
• Identify strategic resources for reliable information on credit policies, regulations, legal considerations, payment methods, transfer of funds and technology standards.
• Discover subventions or tax preference of government and government agencies to make prices more competitive for global marketing efforts of SMEs.
• Discover grants and special financing available for innovative or ecology friendly products. The European Union Commission has many programs in place to support SMEs to become more innovative and global.
• Focus on brand recognition for a successful marketing campaign. Brand should stand out and fit the right consumers group and have global appeal.
• Ensure product specifications meet customers’ expectations in the selected region by taking convergence of tastes and consumption habits into consideration.
• Take necessary steps to increase intensity of interaction and communications both firm-to-firm and firm-to-customers to identify right partners in the marketplace.
• Improve digital maturity by automating cross-border financial transactions for invoicing and payments, and by adapting their technology to ecosystems for order management, supply management and distribution of products.
• Consider direct selling through online marketplaces or e-commerce to increase revenue and maintain sustainable growth.