Trade missions can be an invaluable tool in building your network of suppliers, agents, distributors and buyers in the countries where youwant to do business. What could be better than flying under the banner of a Canadiangovernment-led delegation or national trade organization, especially if you’re a smaller woman-led or -owned company? The returns can be enormous, but the costs in terms of time and resources can be steep as well. As with most aspects of business, the key to success is in the planning. So, here are eight tips to get you thinking—and planning—in the right direction.
Before you decide to exhibit at a trade mission in another country, it’s best to attend and exhibit at several local or domestic events first. While most tradeshows can be unforgiving and lightning-paced, international trade missions operate at a whole other level. Make sure you have the confidence to put yourself out there—in another country—and that you’re truly committed to going global. If you’re thinking about taking part in an international trade mission, consider being an attendee rather than an exhibitor first time around.
Being certified by a certifying council can help you win contracts with large corporations or government agencies with supplier diversity programs:
Most sector-related trade missions are annual events, so plan one to two years in advance. Do your research, including finding out about previous events and asking the mission organizers if you can contact previous exhibitors. Reach out to find out what they thought about the mission and if they’ll share any lessons learned. Set clear goals and assign the necessary resources to see you through.
Line up and lock down expectations, roles and responsibilities with the mission organizers and your own team. Be sure to schedule additional meetings with previously identified strategic partners and suppliers to make the most of your time in-market.
Be prepared to modify your pitch—and even your product or service—to suit the needs and cultural differences of the host country. Make sure you have the right people in place and your exhibit materials are adapted as required. Reach out to attendees and set up meetings in advance.
Take all those months of preparation and turn it into an event program that has all participants and their time scheduled to ensure activities, goals and expected outcomes are met. Plan for regular communications within your team and check with mission organizers to confirm events or any last-minute changes.
Ensure your sales team prioritizes and follows-up on all mission-generated leads. Gather feedback from your own team and the mission organizers. Develop post-mortem document to capture strengths, weakness, and future plans. Work with your sales team to identify mission-generated sales to ultimately determine return on investment.
Export Development Canada (EDC) is Canada’s export credit agency dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need—the knowledge, financing solutions, investments, insurance and connections—to take on the world with confidence. Underlying all our support is a commitment to sustainable and responsible business. For more info please visit: https://www.edc.ca/en/about-us.html
