Researching potential export markets before you commit to entering them is a logical step but there are things to consider before you start.

Advantages of export market research

There are a number of benefits to undertaking market research before you enter new overseas markets, these include:

• spotting trends
• minimising risk
• identifying threats and opportunities

Disadvantages of export market research

There can be potential drawbacks to conducting market research, these may include:

• the expense of accessing expert information
• outdated information leading to bad decision-making
• it can be time-consuming

Conducting thorough online research can help you pull together valuable information which can be crucial to your export planning. It will help inform your decision making in a timely and cost-effective way.

Researching potential overseas markets online can help you:

• assess market potential
• find customers
• analyse your competition
• assess market barriers and risks
• find the best routes to market

Read more about the things you should consider when trading with the EU and when trading with GB and countries outside the EU.

Business risk reports

Read the Overseas Business Risk reports for information on political instability, terrorism, crime, corruption, human rights issues and intellectual property risks.

EU Market Access Database

You can check the EU Market Access Database to research a country's duty rates and licensing rules.

Check whether EU wide technical rules or national rules apply if you're sending goods within the EU. If technical rules or national rules apply, you can get advice from the product contact point for that country.

Invest NI Business Information Centre

The Invest NI Business Information Centre provides free access to market research, company databases, and other business information to help local companies develop their markets, identify export opportunities and find new customers.

The Centre is located at Invest NI's office in Belfast. The wide range of business information includes:

• trade and business journal collection
• details of trade fairs
• worldwide country profiles
• tenders information
• guidance on import/export procedures and business agreements

To access this information, call the Invest NI helpline on Tel 0800 181 4422.

Tenders Alert Service

The Invest NI Tenders Alert Service allows you to identify local, UK and European contract opportunities from a wide range of public sector organisations via a daily email alert service. It also has information about selling to the government - it has compiled a NI Councils Procurement fact sheet giving contacts for buyers and brief data on how they buy goods and services.

Download the Tender Alert Service leaflet (PDF 276KB).

When researching overseas markets, you will need to identify your potential customers and their needs, by considering the following factors:

• Who will buy from you? Each marketplace is different. For example, you may find that your overseas customers are in the public sector, while those in your home market are small businesses.
• What influences customers' purchasing decisions? This could include culture, age, gender and many other factors.
• Why do customers buy from you? Consider what you need to know about your customers' needs.
• What price can the product profitably sell for? This will influence your pricing and marketing decisions.

Read more about how to create customer personas.

You need to establish:

• Size of your potential market - this could be limited by population, cultural or economic factors.
• Politics and economics - an unstable political climate or unfavourable trading conditions can make exporting risky.
• Culture - this may affect your selling proposition. Investigate any barriers to your product's success. Will your product be valued the same as at home? Will your customers have the same reasons to buy it?
• Language and etiquette - can you market your product effectively in the local language? Will you have access to professional translators and marketing agencies? It is important to communicate effectively and understand cultural differences.
• Safety and security - the risks presented by local terrorist activities as well as the global risk of indiscriminate terrorist attacks. Also, the level of crime in the target market. Read more about overseas business risk.
• You can also find travel and security information in your target market.

Support for researching other countries

When researching potential countries to sell to, you can find information from the following:

• Invest NI support for selling outside Northern Ireland
• The Department for Business and Trade support for planning entry into new overseas markets
• Search for commercially available research from Market Research World
• Trade visits provide valuable first-hand experience

Invest NI Graduate to Export programme

The Graduate to Export programme from Invest NI aims to help Northern Ireland companies with their growth plans by providing them with support to employ a graduate for up to eighteen months to take forward a market research project that targets a specific overseas market. Read more about the Graduate to Export programme and its eligibility criteria.

Once you have gathered enough information through online research to help you choose appropriate markets for your product or service, you should then conduct some in-market research.

Visiting your target market will allow you to gather specific information on the market for your product or service. You could also visit a trade show or conference, or participate in a trade mission. The data you gather in-market should be accurate and up-to-date.

Overseas Market Introduction Service

The Overseas Market Introduction Services (OMIS) is a chargeable service offered by the Department for International Trade through its network of staff in overseas embassies and consulates. It can be commissioned and managed online. OMIS offers:

• bespoke market research, sector advice and market entry strategies
• support during overseas visits
• identification of possible business partners
• help to prepare for exhibitions, events and trade fairs

Contact an International Trade Adviser (ITA) to find out about OMIS. Your ITA can help with advice on all aspects of exporting.

Trade Advisory Scheme

The Trade Advisory Service provides businesses with tailored export consultancy from Invest Northern Ireland advisors based in overseas markets. For information on the Trade Advisory Scheme call the Invest NI Business Support helpline on Tel 0800 181 4422.

You may need to adjust your product or its packaging to comply with local laws and regulations. For example, there may be specific health and safety standards in your target country that differ from those in the UK. It is your responsibility to make sure you comply - and errors can be costly.

You may need to adjust your product or operational set-up to comply with local laws.

You should investigate:

• local export legislation and technical regulations
• certification and testing requirements
• local standards affecting your existing and future products
• product liability
• quantities and units
• patents and trade marks
• staff qualifications

Find out about the Invest NI support available for exporters.

You may need detailed information on international aspects of standards, accreditation and measurement infrastructure, including more specific facts and figures for a number of countries. You should also be aware that your product may need an export licence, or be subject to import duty and sales tax outside the European Economic Area.

The British Standards Institute (BSI) international projects department can help you deal with technical barriers to trade including any regulatory issues you might face.

Read more about how to make your product packaging effective and how to package food for export or import.

Researching your potential customers, competitors and the trading environment in your target overseas markets, you will increase your chance of success.

The following tips will help you successfully research your export markets before committing to entering them.

1. Use online databases to investigate the demand for your products in new markets as well as if the market share is there - read more about researching export markets online.
2. Consider visiting the markets. Visit your target market to gather specific information on the opportunities for your product or service - read more about conducting in-market export research.
3. Get help - Before you make your first move into an overseas market, you should seek expert advice and support. Find out about the available support for exporting.
4. Confirm the reliability of your data with multiple sources.
5. Research the laws, legislations, taxes and trading standards in the countries you're hoping to trade in - view a range of exporting country guides.

Market research is available from government agencies and commercial organisations.

Conduct your own market research

You can conduct research using media sources, such as newspapers, trade journals and the internet, and get information by networking with experienced exporters. Your trade associations may be able to help you with contacts. For many small businesses, the best approach is to visit the market and spend some time interviewing a range of people. Read more about how to develop an exporting marketing plan.

GOV.UK produces 'sector in-country' reports for many markets.

Commission market research

You can commission a market research agency to investigate your overseas market on your behalf.

Decide whether you want to use a UK-based agency or a local one. A local agency may understand your potential customers better and will be able to access the necessary information more easily. You should select your agency carefully, and check that their proposal shows that they understand your needs.

State what you expect to find out from your research in a clear brief. This should specify your aims in commissioning the research, and the timescales and presentation you want. Describe your business and product, state the information required and the geographical scope.

Access published market reports

You can also buy reports on some overseas markets.