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Who Is the “Ideal”International Buyer?The short answer: anyone who can afford yourproduct or service and buys it regularly. “Ideal”varies according to export plan and e-commercegoals. But regardless of your approach, treat allbuyers as if they mean the world to you. Picturethe best customer service experience you ever hadand deliver something similar—or better.Exporting for the Long TermOne of the biggest complaints we hear frombuyers is that U.S. suppliers drop internationalcustomers when domestic business improves.A weak dollar means goods produced in theU.S. are cheaper for consumers with strongercurrencies; a stronger dollar makes U.S. productsmore expensive, lowering demand if the productisn’t considered essential.For example, in early 2015 European customerswere paying almost a third more for U.S.-madeproducts. Maybe the products are genuinelyworth the price premium, and buyers will eat thedifference or pass on the cost of the suddenlymore expensive import to their customers. But inmost cases, such a big price increase will causeyou to lose sales.Buyers Have Long MemoriesWhat should you do? Turn away from theinternational market?No. Exchange rate fluctuations are a fact of life,and the most short-sighted thing you can dois abandon international customers. When youneed them in the future—when domestic salesare slow and currencies have rebalanced—they’llremember when you stopped answeringtheir messages.Strategies for Keeping BuyersRegardless of changes in currency, it probablycosts you about the same amount to sell a unit ofyour product. Show your international buyers youvalue them as customers—maybe you can trimfrom your margin so they can afford your product,and in return they’ll reward your flexibility withtheir loyalty. Or, if some of your costs involveimported components, a stronger dollar may makethe components cheaper, enabling you to passsavings on to buyers in third countries.Find ways to make your supply chain moreefficient. If fuel prices drop, shipping costs shouldreduce. And if you and your buyer both savemoney on shipping, you’ll both happy.Consider offering longer payment terms. Priceshock may be cushioned if the buyer has moretime to pay. Call your regional Ex-Im Bank officefor support with payment terms, as well asprotection against foreign currency losses if youaccept payment in foreign currencies.Help your customer lock in lower exchange ratesand order larger quantities (perhaps at a discount)so they won’t need to replenish inventory whenyour product becomes more expensive to them.If you treat all your business relationships equallyand please all your customers—wherever theyare—your domestic and international businesstogether will help keep your profits stable.But whatever you do, don’t sit back and waitfor market changes. Take steps now to keep thecustomers you have, even while looking for newones who can afford your costlier products.Because while you’re thinking about pulling back,foreign competitors are getting ready to expand.Chapter 6: Finding Qualified Buyers83