Foreign companies disregard the speed of life when doing business in the USA market. And that’s fair; we only see what we know. However, the European manufacturers don’t have time to meditate anymore and must learn this one thing quickly! #internationaltrade #trade #culture #marketing #marketentry
In the USA life happens fast. It is already noticeable once you lend in New York from any European airport. People walk fast, they eat fast, consume fast, they miss their flights fast, and get back on track - fast. This speed of life applies to everything – also to the market and business.
What kind of implication does this have on your products to succeed on the USA market?
Improve your speed-to-market! Fast learning and quick adaptation are the key success factors. Fast pace markets such as the USA puts the European SMEs in highly advantageous place, due to their higher flexibility and skill for the innovation in comparison to big multinationals. That’s the good news, and even better ones are: Once your innovative product is ready for sales, the market allows you to become a success story in a very short time!
Create products for a fast consumer! Today product claims as: quick snack, on-the-go food, ready-to-eat meal are becoming absolute, not exceptional. Think of all the great options for today’s consumer who lives on the edge with time and make his life even more time-effective!
Appeal to the customer quickly! In other words, the packaging must grab the attention fast! Work on your marketing and packaging to stand-out, not to fit-in! Grabbing attention in a few seconds, while the customer is quickly screening thru the shelf will increase your chances to get in the fridge! And here you will already make his life just a few seconds better! 😉
Decide fast! Entering into a market consists of thousands of important decisions, but while we’re deciding what customer wants today – “the today” can easily become yesterday. Therefore, train yourself to make faster decisions, because slow decisions are as expensive, as the bad ones. Having said that, surely good and quick decisions should stem from the great knowledge of the market and consumers.
Even with these challenges, the good news is that the fast speed in the USA does apply to everything – also to the sales growth! Once you are on the market, the fast pace of movement, market dynamics and fast sales growth will be very rewarding and exciting to work for. The growth and the great sales potential are thrilling in this market full of new opportunities on every corner!
To wrap up this article on the rocket science: In whichever market you operate, your market consists of people, and the speed of people lives dictates the speed of the market!