Living in Europe might have a large number of benefits for business owners. Some industries, for example, have a different VAT than others do. For example, in many European countries that are also members of the EU, food products, medical products books and others, the VAT is significantly lower. In Germany, for example, while the rate is set at 19%, for the previously mentioned products it is at 7%. There are many things you should be aware about before proceeding to open a business in Europe, like the process of EU VAT Registration. Luckily, public bodies here are quite opened to questions and have available detailed information regarding certain procedures. However, below are some business models with a great success around the Europe that you might want to consider.
Always tell a story
It is unlikely to sell a product well if it doesn’t tell a story. Make your customers familiar with who you are, where you started from, what the process of making that certain products is, as plain as it might be. Make them believe their lives will be somehow changed after using or buying your product. Make them a part of your story. This might sound cheesy, but success in not hidden in numbers and complicated formulas. It is hidden in a good approach towards your company, products and clients. Take Milka or for example. What they did with their products, the fact that they made people aware about other important things in life, like sharing and showing support, the story behind their products made the company an icon on the market.
Complete the story with a strategy
A good marketing strategy is what empowers the business model to be effective. Act in advance and make customers anticipate your products. Just like some big companies do around the holyday season. Launching Christmas themed products for example, is a good approach. The advertising means available nowadays are endless, and a good combination will certainly have a greater effect. However, always make sure your approach is different from your competitor’s. Uniqueness is what appeals customers the most and for a great success include the anticipation factor. Make them expect something, but something unexpected.
Make a small variety of products and make them good
A wide variety of products might appeal some business owners, but examples of manufacturers that expended their variety and failed are so many. Instead of producing a large variety of products, try to specialize instead. If decoration is what your company’ icon product is, stick to and improve it. Furniture for example, might not be your cup of tea. Instead of losing clients over experiments, you should proceed perfecting your icons.
Doing business in Europe is not particularly hard. However, people here are looking for quality over quantity, for a story even though the product might be mass-produced. They want to know they matter for you as a company. Although it might seem pretentious, give this combination a try. You might succeed.