Cash advance usa

Commercial News USA

LINKS U.S. BUSINESSES WITH WORLD MARKETS

"An amazing, continuous ripple effect!' That is the way James McCann, President of Metacom, Inc., of Minneapols, describes the flow of inquiries resulting from promotion of his new cassette copying system, "Rezound,' in Commercial News USA (CN). Since April 1982 when it first received worldwide exposure in the Commerce Department magazine, the product listing has reached most parts of the world and generated hundreds of queries. It has been republished in numerous trade magazines and newspapers in many countries, including Austrialia, Germany, and France. In addition, the product has become known and sought after through overseas post commercial libraries where Commercial News USA is maintained as a reference document. McCann relates that one of his new contracts is a "Japanese distributor who went to the U.S. Embassy and spotted the product in the library's copy of CN.'

Exporting on a very limited basis before the publicity in CN, McCann said that Metacom has been "forced to start organizing our exporting' to handle the numerous inquiries and orders. All of Metacom's exporting is now managed by the staff in addition to their regular duties, but Metacom "will soon fund exporting as a separate budget item and hire an international marketing manager.'

Why are companies like Metacom so successful in exporting after participating in CN? And, more importantly, how can other companies duplicate this success?

The answer lies in the CN support network that stretches from Commerce District Offices located throughout the United States to the Washington, D.C. publishing staff to the many U.S. Embassies and Consulates around the world. All work together to provide U.S. businesses with worldwide publicity for their products and services, to boost export sales, and to locate agents and distributors.

The steps that a company takes to be publicized through CN are easy and few. Once a company has decided to enter the international marketplace, it should contact the nearest U.S. Department of Commerce District Office. Located in most major cities around the country (see pages 42-43 of this magazine), District Offices are staffed with trade specialists who are well trained in the many aspects of marketing. A trade specialist will work with the company in completing the proper application for participating in one of CN's three supporting programs: New Product Information Service, International Market Search, and Worldwide Service Program. Each program's guidelines are briefly outlined below.

New Product Information Service (NPIS): Only the newest, most unique U.S-manufactured goods are promoted worldwide through the NPIS. To qualify, products can be on the U.S. market for no more than two years and cannot be exported to more than three countries on a regular basis. These limitations generate a great deal of interest in these innovative items around the world.

International Market Search (IMS): Rather than exclusively feature new products, IMS combines both new and time-proven products of one selected industry. The export limitation for IMS participation is also relaxed to include products exported to as many as 15 countries. Issues of CN containing IMS products are designed to exclusively feature one U.S. industry's products, along with state-of-the-art articles, domestic and international trade events, and other pertinent trade information to give worlwide readers a complete source for that one American industry.

Worldwide Service Program (WSP): Scheduled to begin in early 1984, this new program will aid the U.S. service industry in its search for international customers. All segments of the service industry will be eligible for participation, ranging from franchising and accounting to health care and education.

CN's monthly issues alternate between the NPIS and IMS programs, and the services listings complement both the industries covered by the new products as well as those featured in IMS issues.

Once an application is completed, the District Office sends it, along with product photos, literature, and a $40 check, to the Washington, D.C. office for processing. It is here that the product applications are transformed into Commercial News USA. The rewriting, editing, layout, and graphics are done in one office, resulting in a new CN each month that is mailed to every U.S. Embassy and Consulate throughout the world.

Each of these posts keeps reference copies of CN in its commercial library where the magazine can be read by the many foreign business people interested in American products and services. In addition, approximately 70 posts also publish newsletters that reprint all or a portion of CN and are distributed to numerous government and business officials, financial institutions, and agents and distributors seeking quality, state-of-the-art American goods and services.

Once published in CN, a product can begin generating inquiries within two to three months. Because publication schedules vary among the overseas posts, the flow of inquiries may continue, sporadically, for a year or more.

Just as the frequency of publication varies from post to post, so, too, does the format of the different newsletters. Size and print quality differ greatly. Some posts translate the text, some use a few very good photos, and some use no photos at all. Some posts photograph whole pages of CN for production in their newsletters, others cut and paste, still others completely reformat, including resizing photos and text. The CN staff requests additional photos from participating firms and forwards them to posts needing original glossies.

Participating firms are asked to keep a tally of program results for a year after initial publication in CN. Correspondence resultin from CN publicity contains "Dept. CN' in the U.S. company's address, making it a quick and easy task for the company to keep track of inquiries. The CN staff evaluates program results for each product--the number of inquiries received, the number of agents signed, and the company's opinion of the program--all necessary data to determine the usefulness of the program.

Like most export assistance programs and services, Commercial News USA is intended only to generate interest in a prospective exporter's product. It is up to the firm to develop these leads into profits. Once inquiries start and exporting is imminent, the following tips, compiled by both Commerce and companies experienced in exporting, may help others just entering overseas markets.

Respond to foreign business inquiries immediately. A brief cable, telex, or letter may be used to indicate your intent to respond if reasonably complete details cannot immediately be provided. Unless otherwise specified by foreign inquiry, correspondence in English is acceptable.

Check for the correct address of the foreign firm. Do not discard the envelope until you are sure the complete address (including the country) is on the firm's letterhead.

Direct mail accurately. Send all written correspondence by airmail. The return address should provide your company's full name and address, including "U.S.A.' after the zip code. Include cable address and telephone number.

Do not disregard inquiries with less-than-perfect English. Quite possibly, it is a legitimate sales lead but the writer knows English only as a second language. Also, if the printing quality of the stationery does not meet standards you ordinarily expect, keep in mind that printing standards in your correspondent's country might be quite different. Despite first impressions, the inquiry may be from a reputable, well-established firm.

Include complete pricing information. Information provided should, whenever possible, be sufficient for the customer to place an order without the delay of further correspondence. A freight forwarder can help you determine prices based on the chosen method of shipping the goods. State the preferred terms of payment (cash deposit in advance, letter of credit, sight draft, etc.).

Provide product information. Include descriptive and illustrative literature about the product published as well as other products in the company's line that have export potential. Do not rely on this alone to do the whole selling job, because foreign buyers should be given the same personal attention that you provide domestic prospects.

Do not neglect imprecise inquiries. If the inquiry does not clearly specify products or services desired, let the buyer know what you have available and ask specific questions to pinpoint the person's needs. If pertinent, the availability of custom-engineered products, replacement parts, supplies, and auxiliary equipment should be noted.