E-Export and Market Research
E-export is a type of export that enables the sale of products or services abroad online. In Turkey, it is e-commerce carried out under micro-export rules, with products or services shipped using an ETGB (e-commerce customs declaration).
Of course, any commercial activity requires preliminary research before you start. Market research can be thought of as defining the general characteristics of the region affected by the market you plan to enter. This makes your decisions more customer- and market-focused, and more accurate. Such research is especially recommended for e-commerce aimed at other countries. In e-export, market research is your foundation.
What Is Market Research in E-Export?
Every business that is involved in e-commerce and wants to succeed first needs solid market research based on accurate statistics. Market research for e-export is very similar to e-commerce market research, but regional factors also come into play. A strategic plan should be built on data such as the preferences, consumption habits and price expectations of potential customers in the export region.
How to Do Market Research for E-Export
Market research for e-export is based on building a strategic plan from the data collected. Research that follows a clear plan will be much more productive. So how should ideal e-export market research be done?
Define the Problem
The first step in any problem or research project is always defining the problem — that is, deciding what data you want to obtain. Clarifying the goal precisely is a very important step in e-commerce. When setting the goal, the company should also decide what information it needs and how the data will be used in its e-export strategy.
Setting the first goal of the research can be a challenging process for those starting e-export from scratch. Professional support can help prevent mistakes. Defining the problem can be called the most important step in e-export.
Look at Your Problems From Different Angles
The second step is looking at the topic from a broader perspective. Widen the frame with questions such as: What could affect your plan? Which factors could affect your work positively or negatively? Remember that a market is shaped by many factors combined — social developments, technological developments, the economy, customer interest and more. Taking these influencing factors into account will always put you one step ahead. As with defining the problem, professional support helps here too: access to similar research, brainstorming and additional data all pave the way to effective results.
Explore Your Target Audience on Site
The third step in e-export is applying your plan at the main target point. Following the plan you’ve set helps direct your research toward the target more effectively.
The healthiest way to build a plan, or to get clear data from your research, is to proceed with questions and hypotheses. Clearing up the question marks in your mind before investing in exports will make your job easier. From this perspective, research shaped around questions aimed at the answers you need has a very high chance of success.
The first thing to do at this step is to select the people or audience who will take part in the research. Working with people who are not in the target audience of the product or service you’ll sell can lead to wrong results. A survey is designed, measurement methods are defined and an analysis plan is prepared based on the data to be collected.
Go Into the Field or Use Email
Once you’ve chosen your research type, it’s time to go into the field. Pay close attention to data collection when doing market research for e-export, because this data will also determine your business’s earnings. Reaching too many people or adding more interviewers can be very costly. Instead, it’s important to choose a strategic location and keep the sample size at the ideal level. In other words, the people you interview just need to provide enough data.
Since this is e-export, you can also collect data electronically — for example, with email surveys. What matters is not a lot of data, but enough data.
Data Analysis
Once the data is collected, you move on to the second-to-last step: preparing and analyzing the data. This stage helps you make more accurate decisions. It’s important to evaluate the data correctly without straying from statistical rigor. When the collected information is evaluated, it should give you ideas about the market you’ll enter. The analysis must be clear and goal-oriented. The success of poorly done analyses is entirely a matter of luck.
Presenting the Report
As the final step, the data should be turned into a report. The report should show not only the results but also the methods used to collect the data. This research is usually done by a research team or department. The decision-maker usually doesn’t take part in the research but builds the strategic plan by reviewing the reports.
Things to Watch Out for When Doing E-Export Market Research
Following the steps above may not be enough for market research to be fully successful. It also pays to watch out for a few things. Let’s look at them together.
Research Method
Market research methods are divided into two stages of data collection. In the first, you need to make direct contact with your customer base, through face-to-face interviews or other direct communication. In the second, the collected data is analyzed and turned into clues that help you understand the market. In both stages, it’s important to stay goal-focused.
Don’t Forget Your Goal
Market research for e-export is a process that spans a long period. It brings together multiple steps, each of which must be prepared carefully. Once you’re deep in the work, losing focus because of external factors is a very likely problem. To avoid wasting time and resources, never forget the main goal. Setting realistic, simple goals will greatly reduce the chance of losing focus during research.
Remember the Competition
Remember that every marketplace has its own competitive environment. Companies design different marketing strategies to market their products or services, and similar conditions apply to market research. When you start a market research project, another company may well have done the same research before. So don’t ignore the competition. You may notice previously undiscovered details of the market you’re entering and strengthen your position thanks to them.
Don’t Hesitate to Ask for Help
Market research is costly in both money and time, so it’s important to use resources as efficiently as possible. As mentioned earlier, never hesitate to get expert advice on market research. If your circumstances allow, working with companies that provide this service will make your job easier. Expert help will increase the success of the study.
Draw Your Audience In
Users often see taking part in studies like these as a waste of time. To reach enough participants and motivate your audience, you can offer special deals or gifts.
Market research is very important in e-export. Selling abroad is much easier with e-export than with traditional international sales. Of course, easy selling doesn’t guarantee the success you’re aiming for. Get in touch for detailed information about professional e-commerce and e-export.
