How to Market Your Seafood
This information is mainly targeted at seafood companies that are interested in exporting for the first time.
Why market offshore?
Research by the Australian Trade Commission, also known as Austrade, shows that small or medium-sized enterprises with overseas business are more likely to forecast an increase in profits than companies who do not export. In addition, doing business overseas has other benefits for companies, including the ability to offset seasonal variations in sales; operational efficiencies through economies of scale; reduced unit costs; the ability to attract and retain the best people; and increased brand awareness and product image 1 .
While exporting can be costly, potentially has greater risks than just doing business in your home country, and requires a very serious commitment backed-up with a sound export strategy, if undertaken diligently the rewards can be significant.
Is your company ready to export?
Some companies start exporting after years of serving the Australian market only, while others begin exporting as soon as they have opened their doors. Only you can decide, in consultation with others, which may include your accountant, bank and other specialist export advisers, if your company is ready to take the plunge.
However, it is not advisable to start exporting by "dipping a toe in the water" and hoping your overseas business will grow from there, without doing any homework. While the former may work in some instances, the best approach is to first of all sit down and re-develop your company's business plan, making sure within this framework you have developed a sound export strategy.
This strategy should include setting targets, such as:
- the amount of financial and other resources you are prepared to devote to offshore marketing - exporting usually requires lots of money for marketing, overseas visits, participation in trade shows and staff to do all this;
- a proper process to assess the viability of your overseas business - how will you really judge if it has been worth exporting? and
- an exit strategy - when do you give up and how do you withdraw from offshore marketing without it adversely affecting your business, including your company image?
The first steps to exporting
Western Australian seafood companies considering exporting for the first time should start by looking through the large amount of information that is available online (see below) that can help them make a decision about whether or not to export. This will also help set in train the right processes and strategies, should you ultimately proceed in this direction.
The Department of Fisheries has a dedicated Trade and International Relations Manager who is able to help you take your first steps towards exporting and point you in the direction of a wealth of resources, tools and people that can be vital in assisting you make a decision. You can contact this person by emailing seafood-at-fish.wa.gov.au or by calling (08) 9482 7333.
The Trade and International Relations Manager produces a weekly email newsletter, called WA Fish eNews that will allow you to keep abreast of seafood marketing, trade, investment and related issues. You can subscribe to this free newsletter here.
If you want to see what Western Australian seafood companies are exporting, just visit www.SeafoodWesternAustralia.net, an online database of Western Australian seafood exporters. If you begin exporting, don't forget to register here for free promotion of your company overseas.
Always look for cost-effective options
Most seafood exporters don't have buckets of money to throw at developing overseas markets for their products. So make sure you take advantage of the large amount of free resources that can help you along this new path before you start committing serious financial and other resources.
Devise smart and cost-effective ways of marketing overseas (including using a website), develop a media strategy and learn how to get "free" media publicity (even in overseas countries), and make sure you don't spend a cent that you don't have to in starting to export.
Useful online resources
- The Western Australian Department of Industry and Resources has information available that can help seafood producers considering exporting for the first time. This department has a range of resources available, including the following:
- providing country and industry profiles;
- assisting clients undertake preliminary market research;
- providing in-depth statistical, market and economic analysis.
- identifying market impediments;
- advising suitable market entry strategies; and
- identifying business opportunities in established and emerging markets.
Some very valuable advice for new exporters can be found at www.doir.wa.gov.au/exportandtrade/ - select on the New Exporters link.
- The Western Australian Government has International Trade and Investment Offices in key markets overseas that are able to provide on-the-ground assistance. Whether it is to simply find a good seafood buyer in a particular country, or help organise a visit to meet with seafood buyers, these offices can help you take the first important steps to entering a new market – or even further developing business in a market. Most of these services are free. Speak to individual offices for the full list of free services they are able to provide.
- Austrade offers a package of free export services designed to assist small and medium-sized Australian companies develop their businesses overseas and make their first export sale. These services will help you get the best possible start to exporting by providing a wide range of free services to new exporters, including advice and information about getting into exporting, export coaching, and assistance on the ground in foreign markets. With over 100 overseas offices, Austrade is able to help new exporters with a range of valuable services. Austrade offers many online resources and tools to help you – just go to www.austrade.gov.au and select For Australian Exporters.
1. Peter Jordan, Growth Services Director, BDO, in The Australian Financial Review, 8 February 2005
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