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Business Development is a function for helping companies to generate leads that could potentially result in a sale. Within business development, Invest North Macedonia will provide the following types of services: trade fairs, trade missions, B2B meetings and lead generation.
Trade Fairs: Invest North Macedonia should first provide funding to export ready companies and export potential companies to participate in trade fairs. Export Ready companies should be active participants, and exhibit their goods and services. Export Potential companies should observe and learn about the processes so they can become active participants in future exhibitions.
Benefits: Trade fairs are known for providing numerous benefits:
- They connect to new buyers and decision makers;
- They reduce cost per sale by closing deals with multiple buyers;
- They provide a chance for exporters to make their products tangible to the buyers;
- They shorten the buying decision process;
- They are a great way to test the market before rolling out a new product;
- They are a unique venue to gather market intelligence on industry; and
- They are a great platform for free publicity.
Readiness Screening of Participants: All companies attending a trade fair need to share common basic criteria in order to participate, either as an exhibitor or an observant. Illustrative criteria include:
- Customer Resource Management system in place with points of contacts and follow on plans;
- Brochures and websites ready;
- Decision makers plan to attend; and
- Production capacity can meet the potential demand.
Trade Missions: Invest North Macedonia will organize outwards trade missions for export-ready companies. The exporters should be selected on strict criteria including:
- Export readiness;
- Export performance;
- Export competence of the company executives attending the mission;
- Export production capacity; and
- Extent of export marketing planning. The selected exporters will visit chambers, associations and individual buyers in foreign countries with the goal of marketing products, securing sales and increasing exports.
Benefits: Trade missions present several benefits to export-ready companies:
- They allow exporters to gather market intelligence on buyers’ preferences, competitive landscape and export regulatory framework;
- They help exporters confirm their strategy and preliminary assumptions;
- They provide a chance for exporters to expand their markets, considering buyers are unlikely to visit North Macedonia;
- They offer an opportunity for exporters to brand their products and their country in a positive way.
B2B Meetings: Before trade missions are launched, Invest North Macedonia will leverage trade fairs and organize formal group B2B meetings between buyers and group of Macedonian exporters. During the B2B meetings buyers will be invited to hold seminars explaining target market requirements. Discussion will mainly relate to regulatory requirements, sales, product functionalities and performance. In addition, buyers in target markets would be invited to attend tailored demos and discuss and negotiate dales opportunities.