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64% of senior decision makers don’t see the internet as top channel for driving overseas trade

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By The Drum Team, Editorial

July 25, 2012 | 2 min read

Over half of senior decision makers in firms with over 200 employees do not consider the internet to be in the top three most important channels for driving overseas trade, according to a study by Search Laboratory.

The small survey found that despite this, retailers such as ASOS have reported huge revenue growth from overseas custom and recently announced Q2/12 YOY sales growth in US, EU and ‘rest of world’ countries of 83 per cent, 27 per cent and 61 per cent respectively.

The research also found that for 73 per cent, the use of native language was seen as ‘very important’ to the buying process by overseas customers, suggesting the need for accurate identification of foreign language as part of search terms for search engine results.

Ian Harris, CEO, Search Laboratory and author of the ‘Web Magnetism: Attracting Global Trade Online’ white paper, said: “Looking at British successes online only reinforces the damage being inflicted on our economy by the enterprise sector’s lack of action - senior executives need to open their eyes to online overseas trade while they still have the chance.

“There is massive opportunity for British firms to benefit from international trade, but they need guidance on what to do to attract and convert foreign customers. Harnessing the commercial power of the internet to support trade in multiple foreign language markets requires highly specialist knowledge, skills and experience - none of which are present in a business that has grown up operating within UK shores alone.

“If the private sector is to stand any chance of offsetting the impact of the government’s austerity measures it can no longer rely on growth from domestic trade. Instead, it must create an exports-led springboard to economic recovery. This means embracing the internet as the primary vehicle for attracting global buyers to British products and services. Failure here will mean UK businesses simply get left behind.”

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