11 Tips to Grow Your Online Business Overseas

06-Jan-2021 | PayPal editorial staff

In the past years, I’ve been observing that more and more consumers are embracing the ease and convenience of shopping online. It’s become part of the rhythm of life and the trend doesn’t seem to be slowing down. As the world gets smaller, consumers are shopping around the world which means opportunity is knocking for online businesses that want to sell overseas.
If you want to make the leap, I’ve gathered some intel to help get you on the right track.
 

1. Build trust and a reliable reputation

E-commerce is a new experience and consumers are naturally wary. Parting with your hard-earned money before seeing a product is a scary proposition. Make sure your delivery partner is reliable. Delivering what you sold on time and in one piece is paramount. A bad experience will reflect poorly on a seller’s credibility. If a product is not delivered on time, buyers are more likely to blame the seller than the delivery agent. Blaming the delivery agent will just seem like a lame excuse for poor performance.
 

2. Provide clear shipping costs & return policies

Hidden costs destroy trust and credibility. Even if you are offering a great product or deal, it can make the customer suspicious. Be transparent, up front and don’t hide behind the size 4 font.
 

3. Reward the loyal consumer

It costs more to acquire new customers than to retain an existing one. This adage holds true for all businesses, and more so for small online businesses. I think it is crucial to maintain credibility and a good reputation. Loyal consumers will be your voice and advocate. This is especially true when things go wrong. If you treat them right, a loyal customer will stand up for you.
 

4. Be consistent and get reviews

Consistency is the cornerstone of all online business. The customer needs to know exactly what to expect. Deviations from the norm can be stressful and will just create more distrust. On the other hand, a surprise when you exceed expectations is always welcome and helps to build loyalty.
 

5. Be unique

Don’t be another “me too”. A customer is not going to seek out a small business if they can find the same product at an established merchant. You need to either have a competitive price or a unique product that the competition can’t offer. Find a “need” to fulfil and customers will come knocking on your door. Be open to new ideas and you may find new opportunities.
 

6. Exploit your size by being nimble and flexible

This can be done in various ways:
  • Being your own boss means you can do what you want
  • Find new ways to surprise and delight your customers
  • Don’t think, “That’s how it’s always been done.” Be ready to embrace something new
  • Your vendors can also be your partners. Be open to collaboration so you can leverage their reach and expertise.

7. Focus internationally

The internet has broken down all borders and the world is now your market. Reliable payment partners make receiving money a breeze while reliable delivery agents extend your service across the globe.
 

8. Be found – A Google ranking adds to your visibility and the credibility of your shop

Take advantage of the Internet — your message can now reach millions of people worldwide. A great product or idea can’t succeed unless consumers know about it. Make sure to communicate how your product can benefit people’s lives.
 

9. Look and be professional – from UX to customer service

When you get buyers excited and knocking at your door, don’t turn them away with a poor experience. An easy-to-use website, a timely e-mail response, or a friendly courtesy call are all a positive reflection on your business. Every moment of a customer’s journey is an opportunity to reinforce the value of your brand. The aftertaste from doing business with you should always be pleasant and memorable.
 

10. Do the fundamentals: use rich content and details

When your buyers can’t visit your store in person, the next best thing is to fire up their imagination. So get them excited with clear and exciting visuals. Rich content can bring your product to life while establishing you as an expert. It’s a powerful way to showcase benefits and get the customer eager to the buy.
 

11. Be mindful of your bottom line, but don’t be penny wise and pound foolish

I agree that getting lower costs from your suppliers is important. The cheapest quote, however, doesn’t necessarily mean you’re getting the best value. Low cost but poor quality will destroy your brand. This also goes for the “hidden” opportunity cost. For example, a customer might not complete a transaction because a purchasing flow is overly complicated. Or a customer might reject an order if the delivery agent damaged it en route. Make sure your product is not undermined by poor quality or a bad service experience.
 

Growing Your Business with PayPal

I’ve worked with countless businesses and consumers to grow PayPal into an internationally recognised online payment brand. The tips provided above represent some of the learnings I’ve gathered over the years. The bottom line is that consumers are increasingly looking online to shop a wide array of products and services. If you’re a small online business that wants to expand customer reach overseas, a smart payment solution like PayPal can help you make the jump.
 
The contents of this site are provided for informational purposes only. The information in this article does not constitute legal, financial, IT, business or investment advice of any kind and is not a substitute for any professional advice. You should always obtain independent, professional accounting, financial, IT and legal advice before making any business decision.

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