Page 16 - Food & Drink Magazine April 2019

FOOD EXPORT
Selecting an export market
Identifying the best markets to focus on, and setting some goals upfront, are essential when it comes to embarking on food and beverage exporting. Export Connect’s
Najib Lawand reveals some of the key steps in this second instalment in our six-part export series.
IN setting goals for 2019, it's important to look five years ahead to plan where you want your business to be. This overarching aspirational goal means knowing clearly where you want to go so you can take the first step to get there.
Make your goal sustainable and realistic. Exporting to the international market is a significant investment. The foundations for success are a strong home base, and a strategic approach that is carefully thought out and managed.
REVIEW YOUR PERFORMANCE
If you are already exporting internationally, now is a good time to review your performance in different markets. Even if you are new to exporting, doing this exercise for your home market is crucial in understanding your strengths. Identify the countries where you are performing well (leading markets) against those where performance is lower or where your goals have not been met (lagging markets).
At home and abroad, identify both the factors you need to improve and the achievements you can build on. There are several ways to look at performance across multiple indicators.
Sales per capita show you how well your products are performing in a particular country. Market share is a measure of the growth of your brand in breaking through.
If you examine the growth in your category you can see if
“ There are hundreds of market opportunities around the world and trying to break into all of them is not going to work.”
your export business into the wrong market will be costly, damaging your sustainability at home and abroad. On the flipside, get it right and the route to reach those goals will become clear.
In the first part of this series in the Jan/Feb issue of Food & Drink Business, we looked at the reasons to export in 2019 to give you an idea of how to set key goals and identify the most appropriate markets.
Next month we look at how to allocate resources to break into or expand your presence in those markets. To learn more, reach out. I’m always happy to connect. ✷
✷ ABOUTTHEAUTHOR
this is a country with an expanding market for your goods. Increases in sales help you evaluate your distribution and promotion tactics.
WHO ARE YOU?
In setting your future goals and especially for growing your business in the international market, you need a strong sense of who you are as a brand. What is it that makes your brand unique, that gives your products the competitive edge over your competitors?
And who do you want to be in your future markets – are you aiming to become the market leader, or one of several players slip-streaming in the leader’s wake? Is your appeal niche or broad? Is your MO premium quality or price point? Remember, your expectations need to be in line
with the resources and investments that are sustainable for your company.
PRIORITISE YOUR MARKETS
There are hundreds of market opportunities around the world and trying to break into all of them is not going to work. The key to successful exporting is to focus on the right markets for your products. That might be the buzz market of the moment, or it might be somewhere less well known, but ideal for your category. Look at the factors listed in the accompanying box when assessing market suitability.
WHERE TO FROM HERE?
Investing time and resources to do this export analysis properly is crucial. Launching
16 | Food&Drink business | April 2019 | www.foodanddrinkbusiness.com.au
Najib Lawand is the director of Export Connect. He has 20 years’ experience in the food and beverage
industry, across the
private and public sector. He can be contacted at najib@exportconnect. com.au or +61 448054234.