6 Steps to Consider when Taking Your Business Across Borders
1. Plan your entry into a new country
Research the target market thoroughly to determine supply and demand, and existing competitors. Merchants should also find out if the Internet, payment and delivery infrastructure is in place to do business effectively. Find out as much as you can about customers and competitors, and keep in mind cultural differences.
2. Accepting payments
The point of payment is when most transactions are abandoned. Customers need confidence that their payment will be handled securely and they need the comfort and convenience of paying in familiar currency using their preferred method. PayPal offers quick, convenient, and secure payment options to over 192 million active accounts in over 200 markets and 25 currencies around the world.
3. Shipping services
Potential customers want to have confidence that the goods they pay for will be delivered and that they can easily return them if there is a problem. If you address these concerns proactively, then customers will be more likely to buy. Furthermore, with PayPal's new Seller Protection policy, local businesses now have additional levels of protection to help safeguard them from losses on eligible transactions.
4. Taxes, laws and regulations
Merchants must comply with local laws when trading across borders. Important areas to consider include, duties and taxes, and their customs and exact documents needed.
5. Confidence building
Things as simple as a spelling mistake or a broken link on the website can damage the customer's confidence and could lead them to abandon the transaction. This concern is even greater for cross-border buyers, so merchants need to build confidence and credibility with their website. It should be easy and simple to navigate too — try and make every page on your site no more than two clicks away.
6. Great Customer Service
The first step to great customer service is to proactively address the main concerns customers might have. Make sure the shopping and return policies are easily found on your site. Having your contact information (email address, telephone hotline, live customer service chat solutions) prominently displayed also helps to give them confidence that any unexpected problems encountered with their orders will be easily resolved.
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