28.2.2018 - How to build a relationship of trust
It is common knowledge that stable trusting relationships with partners are of crucial importance in conducting business. How can you find a company or a person with whom you can set up and develop business in another country? What should the system of interaction with a partner in another country look like? What should be done if something goes wrong, e.g. the level of sales is unsatisfactorily low or if there are no sales at all? What else do you need to know if that other country happens to be Russia? What specifics of doing business in Russia need to be taken into account to succeed on that still underdeveloped market?
More often than not, Russian companies expect to be granted exclusive rights and sometimes it is in your best interests. The benefits are obvious if the proposed partner occupies a significant market share and is really interested in your products. However, practice often shows that the results are quite modest and the reasons for that may be different: ranging from the lack of resources of the Russian company for the active promotion of your products to insufficient and ineffective support and coordination. As a rule, large wholesale companies or integrators in Russia are enterprises with a large number of personnel and a strictly hierarchical management system. How to act: discuss how you will communicate already at the first meeting, provide training to the Manager responsible for your product, invite key personnel to visit your factory - build a relationship of trust both directly with the person responsible for your product and with the management of the organization.
Sometimes it is more effective to cooperate with a small company that is ready to actively develop your brand on the Russian market. Such companies are more flexible, which allows you to work more efficiently, especially if your product is supposed to be one of the most significant revenue-generating one for them.
Anyway, regardless of the chosen company in Russia, one of the first topics for discussion should be a strategy of presence in the digital environment, an Internet promotion of your company and your product and customer acquisition channels there.
It is also important to discuss sales plans for the first and, perhaps, subsequent years, general marketing activities, budget and terms, as well as regular reports on the work done, closed transactions and customers feedback. It is also important to thoroughly analyze failed transactions. It is very important to schedule regular meetings - at first they may be held every six months, then once a year.
The situation with several partners in Russia requires more coordination on your part.
If your production is a subject to certification in Russia, there are also nuances how to optimize expenses on its passing and to make possible use of certificates by several companies.
For more details, please contact us.
Zhanna Malinovskaya, Business Consultant, Russia
Avainsanat: Russia, relationships, enter in Russian market, business in Russia
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