Unit 5: International Trade 1. International Trade Why do people trade? 2.
International Trade Events
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Transcript of International Trade Events
Hot Tips for Planning International Trade Events
© Bronwen E. Madden
Types of Events
• Webinar• Video conference• International catalog show• International trade show• International buyer’s mission• International trade mission• In-bound trade mission
Tip: Skype is a cheap way to connect with
five or less parties with video, instant
messenger, and phone. You can even
get “local” phone numbers that redirect to your cell number in your home country.
Before the Event
• Identify target markets (develop export plan)• Choose the right events (industry specific)• Review show history year est., volume, past participants
• Amount of presence booth, walk the show, be represented
• Use organizer’s resources Booth assistant, hotel discount, equipment rental
• Demonstrate product Sample, shell, DVD
• Location at show• Seek clients for meetings
Export Marketing Plan
• Select Target Markets• Market Research / Trade Stats• Industry Analysis• SWOTT Analysis• Budget for Trade Promotion
Tip: Start with an export-marketing plan and identify markets
with high export potential. Utilize
Export Marketing Plan Templates to help you
get started.
Webinar
• Participate via your computer• Low cost and on occasion free• A live feed• Able to instant message
questions• Educational experience• Little preparation required
Tip: You do not have to pay for this type of service. Companies
such as Dim Dim offer free webinar and desktop sharing
services.
Video Conference
• Meet at local USEAC office• Inexpensive• See faces of marketing specialists abroad• Gain market insights• Access to industry specialists in foreign market
International Catalog Show
• Targets multiple markets in a region• Inexpensive ; No travel required• Send product literature; Translate if necessary
( 15 catalogs per market to APO address three months in advance)
• Send sample / DVD / business cards• Receive leads and market information• Booth assistant; help with language & prevent theft• Keep a “master binder” with co. info and literature
International Trade Show
• Marketing tool to introduce products into foreign markets
• Provides face to face time with potential buyers• Booth: on your own or part of a pavilion? Ship in
advance; easier to mail than carry; Use ATA Carnet if applicable or APO address
• Demo: products on hand• Used for lead generation more than on-site sales• Booth assistant; help with language & prevent theft
Trade Shows Preparation
• Est. objectives / Entry strategy• Choose shows early in countries
of interest (target markets)
• Review show history• Location at show Reserve private
meeting space and Seek clients for meetings
• Train staff on trade show selling techniques Have two people to allow for breaks/visit other booths
Tip: Combine a trade mission in conjunction with a trade show to save on travel costs. Use the show to get leads and have the
mission to firm relationships.
International Buyer’s Mission
• Domestic trade show• Meet global buyers • Cheaper than international show• Private meeting space sometimes
provided
Tip: This is an excellent way to meet
serious business partners who are
qualified at a low cost.
International Trade Mission
• International business trip tailored to companies objectives
• Travel alone (Gold Key) or with a delegation• Pre-screened appointments with local companies • Logistical assistance and in-country support• Commercial briefings on the local market• Political leaders raise visibility and influence policy• Most conducive for results when meeting face-to-
face
Trade Mission Briefing Book
• Itinerary• Delegation list w/ contact info• Company profiles• Biographies• Trade data/ current events• Meeting briefs & speech copies• Protocol (culture)• Past history• Be ready to work the media!
Tip: Schedules tend to change up to the last
minute; three-hole binders make it easier to pull out and insert
information. Speeches should be on one side
only as some speakers like to rip out
the pages upon completion.
Phonetically spell unfamiliar
names/words.
Trade Mission Meeting Brief
• Date / time / location• Contact person (including cell #)• Meeting participants & titles• Objectives / goals• Talking points• Dress• Seating chart• Gift
Tip: Purchase McCaffree’s book on Protocol or Holberg’s
Forms of Address book
USDOC Events
In-Bound Trade Mission
• Foreign companies visit the U.S.• Companies prescreened• Company profiles provided• Travel alone or with a delegation• Meet one-on-one with potential partners• Political leaders raise visibility• Inexpensive• Conducive for results
FCS Trade Show/Mission Benefits
• Follow-up with leads• Lower costs • Extra support• Translation• Shipping materials• In-country support• Logistical assistance• More visibility
Tip: Gifts are considered customary in some cultures and should not be seen as bribes. Be modest (or risk embarrassment by their need to
reciprocate) but thoughtful. Gifts that “connect” your product or tell a
memorable story which is personal to your company and/or history are
best. Keep in mind cultural superstitions. Your firm may wish to have a display case for corporate gifts received so individuals do not
personally benefit.
Reverse Profile FormTip: Business cards can provide a
sense of professionalism and make follow-up easy as you don’t have to decipher handwriting and scanners
can instantly populate your database.
Tip: Business card titles need to demonstrate business decision
making authority; it is not uncommon to have a second set of cards with a
manager title. Additionally, size, language and information (i.e.,
degrees, certification) change from market to market and should be
sensitive to these variances.
Event Organizers & Facilitators
U.S. Government
• Dept. of Commerce & Foreign Ag. Service• State and Municipal Trade Assistance CentersForeign Governments
• Federal level: JETRO, U.K. Trade & Invest• State / Provincial LevelPrivate Entitles, Not-for-Profit, & NGOs
• Hannover Fairs, EJ Krause, Kallman Int., etc. • World Trade Centers and Chambers of Commerce
Where to Find Event Info
• http://www.export.gov/tradeevents.html• www.tsnn.gov• http://www.biztradeshows.com/• http://www.expoworld.net/• http://www.foreign-trade.com/exhibit.htm• http://www.fas.usda.gov/scripts/agexport/EventQuery.asp
Travel Price Estimates
Recruitment
• Start with past event participants, they are most loyal
• Contact current clients• Use business directories to find
exporting companies• Contact USEAC office (& other
multipliers) to market to clients• Meet on-site with serious
potential participants
Tip: Ask for a show directory from the
previous year to see who might attend and create a “target list” of who you want to visit.
Tip: Personal meetings better introduce/explain the event and you get a better understanding for their product and thus represent them better
Register Event Participants
Props
• Product literature (translate!)
• Industry plackets
• Electronic info like hockey-rink discs (people “dump” heavy paper)
• Maps and flags
• Supply box w/ tacks, tape, pens, staples…
• Fish bowl for business cards
• Promotional items (friendship pins) / giveaways
• Videos/DVDs (rent monitor at the show)
• Product demonstrations
Tip: Use Velcro to secure product samples to the
tablecloth on your booth table to prevent show participants from
stealing.
Travel Checklist Travel request submitted and approved After travel is approved, book plane
ticket and schedule lodging Passport, applicable visas and travel
shots need to be administered Reserve transportation Itinerary (including hotel and plane
ticket info) submitted to manager and copy for support staff
Notation on personal calendar along with cell phone number
Out of office assistant turned on Telephone forwarded to support staff Government identification card State tax exempt form (if applicable) Pouch for travel receipts Business cards Blackberry / cell phone Camera
Laptop Projector Adaptor kit CD ROM containing all company
information, marketing and contact information (i.e. brochures)
Trade booth Company literature Product samples Follow-up form State map (display location) Flag placket w/US, State and local
flag Company promotional items Friendship pins Gifts for foreign dignitaries / hosts
Trade Show Database
After the Event
• Have a “lessons-learned” meeting to review what worked and what didn’t to better future events
• Create contact database (MS Access)
• Promptly follow-up w/ leads
Qualifying Leads
• Specific (focused) business interest; know what they want
• Business card• Differentiate Speak English? Need
financing? Years in the industry? Represents complimentary products? Familiar with U.S. culture?
Tip: Identify what your ideal partner would be like and your goals for the market which will influence your market strategy and the type
of relationship you seek.