Leverage your digital strategy to boost your exports
When you decide to export your products, having a competitive advantage with your production efficiency, pricing and timelines can make a huge difference in foreign markets. In addition, your digital strategy can also play a huge role in improving your company’s processes and productivity.
Without a solid digital strategy, exporting is almost inconceivable. From staying on top of trends and competitor moves to guaranteeing stellar sales and customer service, any business in today’s ever-changing markets needs to develop a clear-cut digital strategy. According to a recent CEFRIO study on the use of digital technologies in the manufacturing industry, 83% of exporters indicate that digital technologies improve product design and development. What’s more: 79% of the companies surveyed believe that digital technologies help their sales performance and 76% deem that there is a direct correlation between the adoption of digital technologies and their sales success in international markets. It seems that digital tools are essential to successful exporting.
There are several challenges for businesses that don’t export. They have lower production capacity. They don’t fully understand international markets or the costs associated with launching products or services in new countries. In fact, 81% of the companies surveyed that did not export admit to not using any digital technologies to support their production.
CEFRIO’s study highlights the “importance of digital transformation and the opportunities it affords when eliminating the barriers to exporting products and services, improving competitive advantages, and strategically positioning brands with international clienteles.” The study also shows that companies that export are clearly more technologically advanced. The result? When they invest in digital technologies, they generate more business opportunities than their counterparts.
Digital transformation cannot be relegated to just using the latest software. Companies must implement digital processes to optimize all of their operations. Remember: launching products abroad means that you’ll face stiff competition from players all around the globe. That’s why it is crucial for businesses to acquire high-performance management, logistics and marketing tools to succeed in selling abroad and outpacing the competition.
Quebec International . http://www.quebecinternational.ca/media/3232000/usage_numerique_entreprises_manufacturieres.pdf.
Therrien, Yves Secteur manufacturier : virage numérique à faire. Le Soleil. http://www.lapresse.ca/le-soleil/affaires/techno/201705/30/01-5102890-secteur-manufacturier-virage-numerique-a-faire.php. 30 mai 2017.
Tremblay, Diane, Virage numérique à faire : un retard qui affecte les exportations. Journal de Québec. . http://www.journaldequebec.com/2017/05/30/virage-numerique-un-retard-qui-affecte-les-exportations. 30 mai 2017.
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Exporting internationally is not a decision that you can take lightly.