According to Wikipedia, European Union is the second largest consumer market in the world. After United States. It is sweet to be present in the market for any foreign business. It can be tricky thou, especially for a small and midsize companies. How can you find buyers in Europe on a low budget? It is possible when you can find a sales team who works on a commission.
How EU Market Works
As of January 2019, European Union consists of 28 member states (countries). There are 512 million people living in EU, who speak 24 different languages.
The EU Single Market refers to one territory without any borders, or regulatory obstacles to the movement of goods and services. This means when products are manufactured or imported to EU they can be freely sold and transported to other member countries inside EU. This stimulates competition and trade, improves quality and efficiency, and helps to cut prices. It has triggered economic growth and made the everyday life of European businesses and consumers much easier.
When it comes to global trade, EU is biggest in the world. EU accounts for 16% of world’s imports and exports. It is the biggest exporter of manufactured goods, and biggest import market in the world. Statistically people do consume more in United States, but US is more closed to imports.
Europe has become very well integrated into global markets. The EU supports foreign businesses wanting to export into the EU by providing clear facts on the rules and requirements for importing into the EU.
The EU has a number of trade agreements with its partner countries and also sees trade as important for development.
However, when EU’s economy and its industry is harmed by dumping or subsided imports, it applies trade defence mechanisms.
How Can You Increase Your Sales in Europe on a Low Budget
When entering European market from outside, there are different ways to do it. In business it always boils down to finances and productivity. The less you pay for the same outcome, more successful you become. Every sustainable business needs to be profitable enough to have the funds for research and development, take care of its employees, and to satisfy its investors.
If you follow the traditional path, company has to do market research, contact trade organisations, network with business partners and friends, exhibit products in the trade shows, visit companies and events, hire marketing and sales personnel, etc. It is expensive. Especially for small and midsize companies, or when business is starting out.
However there is a way to be more efficient nowadays. It is called outsourcing.
How Sneico Can Do It for You as Outsourced Partner
Sneico has specialized in being an outsourced sales department. Especially for international business.
How Sneico works.
1. First you give Sneico your business’s insight along with product information, and explain the company’s competitive advantage.
2. Sneico will prepare sales materials to create your presence in the internet.
3. Sneico’s team will make the material visible to the potential clients.
4. The outsourced sales team will talk to the clients, negotiate deals, arrange transactions, etc.
5. Sneico will administer the new clients who have become regulars and offer support in the client-business relationship .