From expanding your customer base and diversifying revenue streams to fostering innovation and global networking, the benefits of exporting are multipronged. Particularly for online sellers from India today, global platforms like eBay have streamlined the path to easily reach new markets. With the platform empowering sellers to scale their business and eliminating all kinds of bottlenecks, the international selling experience has become extremely seamless and secure. Coupled with strong governmental incentives to encourage exports, the outlook for profitability is more promising than ever before.
Exploring the Benefits of Exporting
Exporting can help you reach new markets, build valuable relations with international buyers, make collaborations, and gain access to new technologies. The various benefits of exporting can be outlined as follows:-
- Helps Penetrate New Markets– Exporting unlocks opportunities to access a larger and more diverse customer base beyond domestic markets. As an online seller, you can cater to their varied needs and preferences for quicker revenue generation and profitability.
- Diversified Revenue Generation– Apart from higher sales and international revenue generation, a strong reason why ‘how to sell globally’ is a common seller query is a strong need to mitigate the risk of depending on a single market. Rather than relying on domestic buyers alone, selling in multiple markets facilitates diverse sources of income. With this diversification strategy, the economic fluctuations in one market will not adversely affect your business. Therefore, exporting ensures business continuity and financial stability.
- Boosts Profit Margins– For several products and services, selling to international buyers fetches a premium price as compared to domestic buyers. Examples of such products include Indian spices, textiles, handicrafts, artwork, jewellery, and so on. Owing to higher global demand, selling these products overseas can fetch premium prices.
- Economies of Scale- As your export activities multiply in proportion to the requirements of overseas buyers, your scale of production, manpower productivity, and sales volume is bound to increase. As the operational efficiency improves, the per-unit expense will go down, thereby increasing the profit volumes.
- Facilitates Global Networking and Innovation– The higher the number of export businesses in a country, the higher will be the exchange of ideas, knowledge, and technology across borders. From competitive business practices to new technological exposure and cross-cultural collaboration, companies can generate unique solutions and breakthrough innovation.
How to Sell Globally Via eBay
Selling online via global eCommerce platforms like eBay is the most convenient and efficient route for both existing and aspiring exporters from India. With strong provisions for seller protection, integrated global shipping, secure transactions, and a host of essential tools and resources, eBay empowers sellers with an extended reach across 190 international markets. Once you are registered as an eBay seller, you can go through the following steps and reap the various benefits of exporting:-
- Register with eBay Global Shipping– Once you get on board with eBay as a registered seller, the first step to being a successful exporter is to enrol with eBay Global Shipping or EGS. This provides a single-window solution for all your cross-border logistical requirements.
- Get Acquainted with Important Facets of Destination Countries– From the products/services in demand and market research to localization requirements, import duties, and the overall legal framework, the right know-how is essential.
- Optimize and Localize Product Listings for International Buyers– Use localized keywords whilst adhering to the best practices for optimizing product listings.
- Provide Multiple International Shipping Choices– Including an option for free shipping, providing buyers with at least 2-3 shipping choices is important.
- Focus on Customer Service and CRM- eBay provides you access and online visibility to international buyers. But eventually, your success will depend on how happy you keep your buyers in the long run.
When the demand for many Indian products and services is massive worldwide, there is no reason why online sellers from India should limit themselves to domestic markets alone. Exporting provides vibrant opportunities for business growth and increased profitability. By expanding your market reach via seller-friendly global platforms like eBay, you can cater to a global audience with phenomenal brand recognition and profitability.