Staying relevant and profitable requires businesses to be constantly on the hunt for growth.
Unlocking new markets is a proven strategy to boost your business and 2024 is your year to make it happen!
When looking to access a new market, it requires more than just transferring home market expertise. It’s like driving in a different city – the familiar routes might not apply.
The right logistics partner plays a critical role in this strategy. They will operate in many of the markets you might be looking to penetrate and will understand the distinct challenges and opportunities unique to the unfamiliar territory.
A good partner is not only accomplished in logistics but also fluent in addressing the linguistic, cultural, technical, and regulatory nuances.
They are your strategic guide and we have some top tips on how you can lean on companies like us (and even us!) to help you navigate your business into the future.
In today’s unpredictable global economy, putting all your eggs in one basket and solely relying on one market is a risky affair. Banking on one market increases the chances of businesses not growing at the rate you want them to.
Similarly, diversifying into new markets acts as a sort of buffer. Economic shifts, geopolitical tensions, or industry-specific downturns affect different regions in varied ways. By expanding into new markets you are spreading the risk.
The implementation of business development strategies in accessing new markets involves a great deal of research and planning by the business owner, company executives and employees. Once you have a clear idea of the potential market you would like to access, you need to find a suitable logistics partner who can help you access and serve the customers you want to target.
The best logistics partners will have a reputation and experience in those markets, offer a comprehensive range of solutions and share your vision and values.
We are here to help you access the whole of Europe and not just the popular locations such as Germany and France. From the north of Sweden to the south of Spain and all the way across to Turkey, we have regular shipments that can help you access even the most remote markets.
With our European network and supply chain expertise, it’s little wonder why numerous UK businesses rely on us to deliver their cargo into Europe.
Capitalise on opportunities.
New markets aren’t just about reducing risks; it’s about seizing untapped potential. Exploring fresh markets allows your business to discover hidden opportunities and capitalise on emerging trends. Diversification can bring in new money for your business in 2024 by meeting changing customer needs and outperforming competitors.
A logistics partner can assist with market entry, regulations, customs, local distribution, warehousing, inventory, and customer service. They can give you information and guidance on market conditions, customer preferences, and best practices in your target markets.
Since the new customs controls were implemented back in 2021, many manufacturers have reported being overwhelmed with added bureaucracy and paperwork.
Stephen Phipson, CEO of Make UK, a body that represents manufacturers says, “For them, the EU was part of an internal market, it was just as easy to ship products to Stuttgart as it was to Sheffield“. When you have Baxter Freight guiding you through the process, customs can become your competitive advantage.
Our Solutions Consultants and Account Managers are here to help you find the right route to move your goods through borders.
Our own in-house customs team are available to guide you 24 hours a day, 7 days a week.
Don’t get left behind.
In today’s environment of disrupted supply chains and economic challenges, market demand can move quickly. Those who are able to adapt to those challenges will survive, the businesses who don’t adapt, risk getting left behind.
Reaching new markets forces your business to evolve. The focus is not on selling products, it is on understanding the different customer needs, adapting marketing strategies, and embracing cultural attitudes. Embracing all of these can ensure your businesses long-term success.
Your partner should analyse your supply chain data and customer feedback. The purpose of this analysis is to find areas for improvement.
Additionally, they should identify potential in your target markets. They can assist you in tailoring your existing offerings to meet your customers’ needs and help you to differentiate yourself from your competitors.
Boosting a local brand on a global scale.
Entering new markets elevates your brand on a global scale. It’s not just about selling – it’s about creating a lasting impression. A strong global presence boosts credibility, attracts customers, and establishes your brand as a global force to be reckoned with.
Efficient logistics is crucial for businesses that transport goods. It greatly impacts the success or failure of the supply chain and the brand. Strong logistics companies organise the coordination of lots of entities. Suppliers, manufacturers, distributors and retailers all play a critical role in ensuring the timely delivery of goods to customers.
A major hurdle confronting logistics is the element of timing. Late shipping can cause problems like lost money, unhappy customers, and damage to a company’s reputation. Consider an online product order: customers anticipate timely delivery. Delays or damage when receiving an item can lead to bad reviews or stop people from buying from the company again.
A good logistics company not only moves goods but also builds a reputation for reliability and efficiency. This reputation enhances a brand’s positive image globally.
Here is what 5 thought leaders have to say about how a solid logistics partner can help market expansion:
As one insightful perspective from Joloda Hydraroll, at Wendy Makinson suggests, “The level of support and access to verified channels in relation to the logistics process ‘chain’ is something that, often, only quality partners can provide to businesses looking to expand into a new market.” This highlights the role of reliable partnerships in navigating the complexities of unfamiliar territories.
Attempting to go about this alone is taking an unnecessary risk. A seasoned logistics partner not only offers support but also brings market-specific knowledge gained through years and years of experience – an asset for any business looking to move into new markets.
The challenges of international expansion are often exacerbated by the cost of shipping, a deterrent that brands commonly face. However, a second perspective, from Taylor Pawelka, ProShip Inc., sheds light on a practical solution: “Borderless e-commerce is growing, but the cost of shipping internationally is usually the top reason enterprise brands avoid expanding into an international market.” By strategically partnering with cutting-edge shipping technologies, companies can get over this obstacle.
These technologies facilitate connections to international carriers, empower rate-shopping for services, and streamline the often awkward documentation requirements, providing businesses with the tools to overcome the hurdles of global expansion in a cost-effective and efficient manner.
Jason Vaught, a Director at SmashBrand, emphasises the important connection between logistics and shelf availability in the competitive landscape: “A good logistics partner makes the difference between winning and losing on the shelf.” In the consumer goods realm, where brand loyalty can shift swiftly, the supply chain’s significance rivals that of the product itself. Jason’s insights highlight the tangible impact on customer retention and retail partnerships when products run out of stock at national retailers.
Fahad Khan, at Ubuy India, sheds light on the complexities of venturing into new markets and the instrumental role logistics partners play in navigating these challenges: “Navigating new markets can be complex, but logistics partners can make it possible.” By deciphering intricate regulations, providing access to local infrastructure, and optimising shipping and inventory, logistics partners become indispensable guides. Their involvement extends beyond operations, encompassing strategic connections with local distributors, partnership development, and even tailoring marketing and customer service strategies for a seamless expansion experience.
Einav Biri, CEO of FARUZO, emphasises the crucial role of logistics partners in managing the intricate facets of supply chain and distribution: “Logistics partners play a crucial role in helping companies access and expand into new markets by managing the complexities of supply chain and distribution.” Their expertise extends to navigating diverse regulatory environments, customs procedures, and local market dynamics. Leveraging established networks and infrastructure, logistics partners not only reduce the time and cost associated with entering new markets but also empower companies to concentrate on their core business activities.
We find solutions and improve your supply chain.
While we are capable of addressing any delivery requirements, our primary focus lies in devising solutions to optimise your supply chain, creating efficiencies, and generating value for both you and your business.
Typically, delivery is viewed as the final element in the equation. However, what if we explored an alternative approach that prioritises enhancing your business and customer value through a strategic supply chain perspective?
Our role is to offer expert insights on sourcing, customs, and identifying your competitive edge. Picture the possibility of seamlessly transporting large volumes into central Europe, cleared through customs, all accomplished within a remarkable 16-hour timeframe.
We have the expertise to make it happen.
With AEO and IATA accreditation, ensuring a secure and sustainable supply chain, we provide assurance and compliance by leveraging our connections within the global freight network.
Contact our experts to see how we can help you seize your potential.
