Are you considering expanding your products and services to new countries? Do you feel unsure about how to decide on which areas to target? Most investors rely on market ranking guides to learn more about potential investments.
A market ranking report gives you the information you need to make smart decisions. You can learn about the market’s book value, cash flow, dividend yield, and future predicted trends. Keep reading to learn about essential tools to help you collect valuable information.
What is market ranking?
Market ranking describes a tool used to determine a company’s industry success. Experts examine the percent of the business’s total sales in the industry. The sales total is divided into the sales over a time period.
This metric is then used to assign the company’s market ranking. The leader is the one with the most significant market share.
How to select a market to invest in
The first step is to examine the potential market’s size. This will help you determine if it’s worth your investment. It’s also important to understand how the market works.
Begin by finding answers to the following questions:
- What are the primary distribution channels your business could use?
- What are the current market trends for this investment?
- What are the potential influences on the current and future market?
- How are your industry competitors currently impacting this market?
Market research reports provide the data you need to find the answers to these questions. This allows you to determine the best opportunities to target. It also helps you estimate if the international market has a demand for your product or service.
Conduct research on potential customers
To generate revenue, you must attract customers and complete sales. Thus, it’s vital to examine characteristics and pertinent data for prospective clients. This helps you hone your search for profitable market investment.
Create customer profiles. Use this research to search for similar targets in a specific country or worldwide.
Generating potential export market leads
Which international markets will offer your business the best chance of success? Is this your first experience with exporting? If so, spend time learning about the rules and processes for managing global sales.
Examine the pros and cons of moving into the international marketplace. Does this make sense for your company? It may be best to focus on a few key countries.
First-time exporters often benefit from focusing on one region of the big markets such as the U.S. or China.
How to choose the right markets
Several factors need analyzing and prioritizing. This defines the potential market’s benefits to your business goals. Consider the following key determinants.
How big is the brand, and does it experience seasonal trends? Examine its growth history and projected market future. What sectors does it comprise, and are there any quality issues?
Competitiveness in the market
Learn about your competitors in the target market. Are the other companies local or foreign? Will this interfere or impact your product or service distribution?
Explore possible barriers to entering this market. What will it take to overcome these constraints? Is it worth the time and money, or should you look elsewhere?
Examine the Doing Business report
The Doing Business report’s goal is to provide global stakeholders with solid data. They objectively measure business regulations for companies in 190 economies.
They include the company’s rankings, cost, price stability, and foreign currency. They also provide the documentation required for trading across borders. Also, examine any price-fixing practices, tariffs, payment conditions, or other trade barriers.
Explore political, cultural, and legal issues
A big consideration is if there’s a language barrier. Do you have personnel who can bridge this gap? Can they provide guidance on relevant cultural factors?
Also, look at the current political stability and legal system in the region. You may consult an international legal advisor to help manage foreign investments.
Another critical factor is the availability and process for hiring local labor. Do intellectual property laws apply to your business?
Kompass’s tool to help decide “Which markets should I invest in?”
Kompass’s Market Ranking report provides information to guide your market investment decisions. It also helps businesses choose which exports to pursue. This accelerates your global development initiatives.
This tool works for small to medium enterprises (SMEs) operating in international commerce. It also provides a solution to help your company enter the global market.
The Market Ranking report provides reliable sources combined with powerful analytics. This tool includes:
- An overview of each country’s economic health
- Analysis of market data to identify trends
- Analysis of social media data
- Expert advice on cultural nuances and how your company can fit in
This tool gives you the pertinent information to find and reach the right markets.
Are you for the best markets for investing?
Using a market ranking tool to help answer questions and lead you to other queries is invaluable. Kompass guides you to reach the right market for your business with the right plan.
Boost your global reach using tailor-made services. We’ll improve your online visibility. This drives more people in your select market to your site.
Our Market Ranking report will guide you in choosing the right markets. Find prospective distributors in leading countries with our Worldwide Company database.
You’ll benefit from our 50 years of proven and effective methods. We have local teams based in over 70 countries to offer feet-on-the-ground assistance.
Talk to our team today to see how we can help your business.