Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Using Cross-Border Customer Hopping

Cross-Border Customer Hopping- the “Laser Guided” targeting approach to capturing global market share

To me it’s clear. In today’s economy, business growth will not continue if you do not move into the world marketplace. By selling only to in-country customers, you will eventually saturate the customer base and strong sales growth will evaporate. Cross-border sales is mandatory for all eCommerce businesses, no exceptions. How you approach this important element of your business operations is the factor that controls the potential for the success or failure of your efforts.

For example, the US is a great market, population 310 million, with 240 million internet users. However, when a vendor sells only to US customers, that vendor is placing a large limitation on the overall size of their potential customer base.

This is simple math. By using World Market as an additional sales distribution channel, the vendor’s customer base reaches 2.4 billion. From the US market that is an increase of over 2 billion accessible customers. It can be entered for no capital investment and very little expense.

Using the services of World Market cross-border customer hopping is simple. Vendors obtain the option of limiting countries and the size of their market reach or selling footprint. Every transaction is cash based, not reversible credits, vendors are paid immediately, and they control the pricing and timing of their sales deals and product pricing.

I think you always want to enter new markets for the lowest possible capital outlay. I also believe you always seek the highest return on each dollar spent to reach a new customer, no matter where that customer resides in this world. Cross-Border Customer Hopping is one of the unique methods World Market offers to address these important factors.

I recommend you assign some one to review and, if appropriate, tag each new cross-border customer as a potential growth hub. A growth hub is a new customer, in a new physical location, in a country or region that appears to create a potential for high sales growth at low entry costs. In selecting and designating such a growth hub, you need to do some research.

You want to assure that for each growth hub area you plan to target, with one or more products, this target market is compatible with your shipping and fulfillment costs, while keeping your products competitive.

The next step is to begin to laser guide your marketing programs, sales discounts, coupons discounts, Move It (Flash Sales) programs, and other market potential efforts to that growth hub. I find it best to seek and accept referrals from the new customer, through direct email contact, and/or social networking connections, and follow those leads with laser guided marketing programs. If the new referrals are outside of the designated growth hub, treat each new referral as a potential new growth hub. Repeat the evaluation procedure- assign some one to review and follow through on each new potential hub.

http://insights.mastercard.com/2011/12/21/ignoring-cross-border-ecommerce-leaves-lots-of-money-on-the-table/
http://www.slideshare.net/pitneybowes/ecommerce-revenue-growth-through-crossborder-sales-pitney-bowes
http://www.slideshare.net/eshopexpo/helping-merchants-boost-crossborder-ecommerce-sales-12266865