First move: Scientifically select the target market

Overseas markets vary greatly, and relying solely on online news is not enough. Eight key factors must be clarified:
--The market potential needs to be clear
By examining macroeconomic data such as GDP, population structure, economic growth rate, inflation, and combining it with price, tax, and foreign trade policies, determine whether this market is worth pursuing.
--Product positioning should be precise
Evaluate the capability of our own products and allocate costs and resources reasonably. Don't force yourself to enter the "high difficulty" market.
--Team capability needs to be assessed
This includes language proficiency, promotion channel resources, as well as flexibility in finance, taxation, legal, and logistics, all of which affect your market execution.
--Trade and tax compliance costs need to be clear
The rules in Europe and America are transparent, but the cost may be high; The rules in emerging markets are vague, and compliance risks are high. For example, the compliance cost of Syria's exports is hundreds of times higher than that of Southeast Asia, and it's hard to figure it out. Even if you lose your underwear, you don't know.
--The impact of geopolitics should be considered
The policy environment and industry direction are very important, such as Southeast Asia's encouragement of energy conservation and emission reduction, the booming of the Sanqiaozi market, and seizing policy opportunities.
--Social and political factors need to be understood
The legal system, language, political stability, customs and habits, religious background, etc. are the key factors determining whether one can "follow the customs when in Rome".
--Market structure and competition need to be analyzed
Understand market capacity, transportation conditions, major competitors, and industry barriers, and try to learn from industry veterans.
--Trademarks and patents cannot be ignored
Trademarks and patents have national borders, so it is important to check the intellectual property status of the target country in advance to avoid future lawsuits.

Second move: Learn to choose exhibitions

The key to choosing an exhibition is to "look at history, evaluate scale, and focus on digitalization":
--History and Scale
Industry leading exhibitions may not necessarily have the largest scale, but exhibitions with a long history and a high participation rate of TOP20 companies are more reliable. Check the exhibitor list to see the proportion of top companies; Judging from the guest and media lineup, traffic and industry influence are also important.
--Digitalization level
Some overseas exhibitions are only held once a year, and it is important for the organizers to have an online platform for communication during non exhibition periods. For example, the "Connect" platform provided by the Russian ITE exhibition allows exhibitors to promote themselves even during non exhibition periods, and even holds industry summits to help companies understand the market at a low cost.
Finally, let me share an opportunity: We have been in the industry for nearly 20 years and have met many reliable exhibitions. On January 11th, the Beijing MiMu Overseas Exhibition will be held, and all these exhibition organizers will come. Interested parties can come to the venue to chat and find suitable opportunities for going overseas.

Here is the agenda for the MEEM Going Global Conference. Register now!