More than 90% of the world’s consumers live outside the United States. With only 12% of the U.S. gross domestic product (GDP) generated by exports, it’s safe to say there is a lot of room for growth. Companies that export grow faster (and 8.5% are less likely to go out of business). U.S exports and foreign direct investment supported 1.6 million jobs and more than $350 billion in exports from 2018-2020.
If accessing a global market is a consideration for your strategic growth plan, your first steps will be connecting with the U.S. Commercial Service (USCS). This will immediately give you access to unparalleled guidance in market selection and sales channels for your product(s).
The USCS – part of the U.S. Department of Commerce’s International Trade Administration – offers companies a full range of expertise in international trade. Setting up shop internationally could not be easier with the USCS’ help. You have the U.S. Government opening doors that no one else in the world can open. Their unmatched global network with trade experts in more than 80 countries can provide you with on-the-ground knowledge and connections.
Getting Started
It’s always best to start with your USCS local international trade specialist to discuss what makes sense for your products and connect you with the right government resources. With over 100 local offices throughout the U.S. and offices in the U.S. Embassies and Consulates in over 80 countries all over the world, the USCS is ready to help your company succeed. (U.S. locations) (International locations)
Local office USCS staff will help you develop your international business strategy, choose the best market for your product or service and evaluate potential overseas business partners. You will have access to the latest market intelligence by industry – the extraction, manufacturing, service and knowledge-based industries, sectors and sub-sectors that drive the global economy. (Industry Teams)
And talk about full service, your USCS specialist can conduct a virtual international partner search, run background checks on potential partner companies and make strategic introductions.
Check out USCS’s webpage for a short video and links to introductory information for U.S. exporters.
Access the World of eCommerce
Whether you are currently exporting or newly entering the global scene, a sound digital strategy will be crucial to establishing an ecommerce sales channel and increasing your brand awareness in countries around the world.
USCS walks you through a 5-step international digital strategy: (1) define your digital objectives and strategy, (2) search engine and mobile optimization, (3) internal needs review (your existing infrastructure), (4) choose the right channel mix and (5) establish KPIs to maximize ROI and conversion rate.
The USCS “website globalization review” gap analysis will take a quick snapshot of your website to see what you are doing well, what needs improvement in terms of keywords and metadata, and what’s appealing to foreign buyers. It will identify areas for technical and “business process” improvement and can connect you with service providers that can fix those areas identified as needing improvement.
The review of your digital infrastructure captures insights informed by the leading challenges for manufacturer B2B ecommerce (e.g., limited product data, inaccurate inventory information, check-out processes too complicated, inability to order from previously orders or track orders, among others).
Their seasoned professionals will help identify and evaluate opportunities offered by various sales channels – your website, social media, online marketplaces and selling to third-party, in-country distributors. And of course, they will help you develop dashboards to monitor your KPIs.
Learn more about global ecommerce digital strategy here and explore the USCS full range of ecommerce support and resources online, including virtual trade shows, grant funding, and digital policy and regulatory issues.
Success Stories Tell the Tale Best
The U.S. Commercial Service is but one department of the U.S. International Trade Administration that stands ready to help you make that jump to global markets. If you have even just briefly checked out the various links provided in this article you’ve begun to grasp the incredible range of service and support available to manufacturers by this government agency. But nothing tells a story like an actual success story. Learn how USCS helped Cincinnati Crane & Hoist raise its global sales and boosted Johnny Rockets’ sales to more than 12 countries.
Real People, Ready to Help
As financial and business advisors to over 5,000 small and mid-sized manufacturers, CBIZ is committed to contributing to the strength, vitality and overall success of our clients by providing access to resources, as well as through direct service. With that as our goal we maintain membership in the National Association of Manufacturers (NAM) so we can participate in industry-focused conversations and better understand sector challenges and best practices.
This article shares a bit of the content presented in NAM’s recent “Global Sales for Manufacturers in a Virtual Environment” webinar. Should it interest you, we and NAM invite you to sit in on the entire recording, accessible here. Additionally, if you are interested in receiving more information or need near-term assistance with global commerce initiatives and would like your contact information shared with the relevant federal partner, feel free to complete the survey (provided here) to indicate your interest in various federal resources.
And finally, as always, CBIZ business advisors are ready to talk with you about your plans for growth, whether global or domestic, and management of your financial, employee and risk challenges. Connect with your CBIZ advisor or locate a local professional here.