Page 11 - Export and Trade

US Market Focus

The US market rewards
those who are prepared, says
Faumuina. Many successful Kiwi
businesses in the US market
spent several years before
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getting the right advice.
Here are her critical success
factors for the US market:
• Focus on niche areas where
value-add and competitive
advantage can bring high
returns. Knowing your
product is important, but you
also have to know why people
will buy it, who the customer
is, where to reach them,
margins, how the distribution
channel works, and the
regulations and requirements
that could stand in your way.
• You have to be in the US.
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is a market for what you are
selling, establish a presence.
• Don’t underestimate the
cultural divide.
• Fast responses are important.
Americans will expect you
to reply to an email within
hours, whatever the time in
New Zealand.
• Make sure your pitch is clear,
concise and to the point. If
you can’t easily articulate
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• Commitment is required – don’t think too small.
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Estimate the amount of capital and time you think you’ll
buyers or investors.
need to succeed, and triple it!
• Do what you say you are going to do. Quote accurate
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Perfect your storytelling
competitive market and orders can be cancelled.
US companies have perfected the art of branding and
• Nurture relationships and be careful not to burn bridges.
marketing – after all, as Forbes magazine points out,
It’s relatively easy to get introductions and access to
eight out of 10 of the world’s most valuable brands come
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from the US.
US. If you fail to follow up on an introduction or to turn
“That means to really stand out, New Zealand
up for a meeting, you’re unlikely to get a second chance.
companies must focus on perfecting their storytelling craft
• Having the right people can make the difference
in a country where everyone says it loud and proud,” says
between success and failure. Pay for advice and use
NZTE marketing consultant Briarley Laban.
experts.
NZ Export & Trade Handbook 2018 9