Opinion Piece by Jodie Stewart, Trade Commissioner, PTI Europe
From unfurling the intricacies of the European market, to learning the intangible but unavoidable trends, to understanding the cog and wheels of the importing and exporting systems across multiple nation states, my years as Pacific Trade Invest’s Trade (PTI) Commissioner to Europe have provided myriad enriched learnings and experiences. Still, regardless of origin country or intended consumer market, there are five lessons that continue as throughlines for all the Pacific businesses I have had the honour to support. When Pacific businesses implement these five key pillars, I see, time and again, reliable magic occur.
- Understand the consumer
As many business owners know, knowing the end-user is crucial to success. This goes beyond being able to name them or identify their demographic, to understanding their behaviours, their likes and dislikes, their interests, their daily habits. This can, of course, be tricky when trading in foreign markets, separated by geographical and social distances. PTI is your partner over this hurdle. By contacting one of our offices in your intended market, we can stress test your idea with the consumer in mind. We’ll supply you with local market knowledge and advise you on the best way to observe varying cultural sensitivities. Before investing significantly in equipment and other upscaling costs, know your consumer.
- Understand the B2B market
Equally as crucial, and oftentimes even more so, business operators must understand the manner in which the business community in the target markets work. This is the substructure of people who will buy your goods for retail sale, distribute your products, or support the marketing and advertising efforts. The operational practices may require fast response times, being contactable during different time zones, and having processes in place that are transferable to the foreign market’s way of doing things. Understanding and adapting to these expectations will put your business in a strong position, helping you build trust and rapport. This is particularly critical when partnering with far-away clients, like those in Europe, where vast geographical distances can increase concerns about shipping and logistics.
- Solidify deep relationships
While you might be tempted to seek out many partners or vendors quickly, it’s important to deepen your relationships with key ones first. For businesses in the Pacific Islands, securing long-term export clients is a cornerstone strategy that can significantly impact your business’s growth, stability and competitiveness over time. Establishing enduring relationships with international clients not only drives innovation, but also builds financial strength and boosts overall business resilience. For the most part, European buyers, retailers or distributors are not interested in short-term deals, but rather, seek long-term partnerships where both parties support one another through challenges and triumphs.
- Continue to collaborate locally
Collaborating with other Pacific businesses strengthens both your position and theirs in foreign markets. This could mean working with other local businesses exporting to the same market, to overcome logistical challenges. Further, it could look like having one shared point of contact for overseas buyers. Mostly, however, it just means being an extra promotion point for each other. Businesses benefit from sharing contacts and market knowledge with each other. Well-designed collaboration practices can ease pressure from all sides. It results in sharing resources and cutting down costs. It also consolidates the ‘Pacific’ brand on foreign shelves, which is the tide that will lift all boats.
- Represent the Pacific
Communicating the rich, abundant, beautiful, strong, and vast stories of your island home is a unique opportunity to connect with customers here in Europe, and beyond. In a globalised market, Pacific Island businesses can differentiate themselves from competitors by offering authentic products and services, as well as stories of substance. Building on the ‘Pacific’ brand with your specific story, through strong and intentional branding, is essential to help your business soar.
