Effective Methods to Grow International Sales for your Business

Top strategies to grow international sales for your online store or business.

 According to Hubspot, over 40 percent of salespeople find closing a sale the most difficult part of the sales process. This is more difficult when a business wants to close an international sale given the following checklist:

75 percent of internet buyers will receive 2-4 phone calls before being convinced to make a purchase.

80 percent of sales demand at least 5 follow-up calls. And given the challenging part of persuading a sale, 44 percent of salespeople will give up on a prospect after one follow-up call.

This means in business, you are not alone when it comes to the challenging bit of closing sales. Needless to say, the business landscape has become even more competitive with advancements in technology. The harder it becomes to find leads and convert them, the smarter marketers are becoming and the high the competition to acquire prospects. This calls for the need for businesses to understand and develop mechanisms on how to make global sales. In this post, you will learn how to build an effective sales strategy and learn new methods for growing international sales for your business.

Diversify your Checkout with Local Payments in Global Markets

Abandoned carts before checkout amount to 68.5 percent. This represents hundreds of thousands of customers who already had an interest in your products but failed to complete their purchase due to an unfamiliar mode of payment. Implementing a checkout system that reflects the diversity of your customers will help close more sales internationally. Some countries such as India prefer payment through UPI, German customers prefer direct bank transfers, while East Africa finds mobile payment more suitable. Take time to understand your audience, their demographics, and what modes of payments they deem reliable.

XanPay offers an innovative solution for facilitating local payment methods in multiple countries in a much faster, cheaper, and easier manner. By integrating XanPay into your infrastructure, you can start offering local payments to more than 15 countries. Moreover, the payment gateway solution enables to receive payments in your preferable payment option. In contrast to other leading payment service providers, XanPay charges a very low transaction fee and incorporates a faster process for merchants to receive their funds.

Learn how GoZayaan -  a travel platform in Bangladesh - localised payments through XanPay. 

Multiple Payment Methods

• Credit/Debit Cards - Cards are widely used and remain the most popular mode of payment for internet businesses. Credit cards are simple, safe, and secure. A customer only needs to key in their card number, CVV - which is an authentication measure and the expiry date of the card. Debit cards allow the owner to spend within their financial limits while a credit card allows one to spend until the end of the billing period. However, within the current trends other methods like online wallets are becoming more popular than the traditional payment methods.

• Bank transfers - Bank transfers and cheques are popular in Germany. This is the safest mode of payment for online businesses. The only limitation is the time taken to process and receive funds into the businesses’ accounts.

• Cryptocurrencies - Probably the latest trend in internet business and the fastest mode of payment. There are different types of cryptocurrencies and your options will depend on what your customers prefer. The most suitable cryptocurrencies are the ones with low transaction fees.

• Online wallets - These are internet accounts that allow users to register an account through their mobile number or email and load their wallets with cash. The trends of e-wallets have increased with the trends of contactless payments that emerged with the coronavirus pandemic.

Shipping and Return Deals

Customers require a well-defined logistics strategy when buying from an eCommerce business. This strategy should be clear, straightforward, and transparent. The customers buying from your internet business haven’t seen your product yet. They are acting on faith and the credibility of your brand might have influenced them to make the purchase. The customer is sure they will get a quality product and at the comfort of their respective locations. Meanwhile, they need to know what happens when they receive damaged good or a package with the wrong quantity. They have to understand how the product will be shipped and how they will return it in the event of a damaged product.

A clear return policy outlines what to do when the product arrives damaged, defines the structures for chargebacks, and how a customer will track the status of returned products. According to Statista, an unclear return policy is the number 2 cause of abandoned carts.

Other Essential for Growing your International Sales

• New distribution channels - explore new and different distribution channels. Research the supply chain and understand global logistics. This knowledge will come in handy when opening new distribution channels.

• New Client segments - observe upcoming market trends and target what customers are mostly looking for. Identify new gaps and opportunities, envision to fill those gaps.

If you don’t sell smart on the international space, your business is bound for failure. Study market patterns, innovate, and test new methods. Employ social media and take advantage of sales tools such as Hubspot and PipeDrive. Your business will grow once you find out the best high conversion methods for closing global sales.

Fuel your omnichannel sales strategies with these tips.