The size of the Romanian market makes it attractive to many. The country's accessibility, favourable tax conditions and economic growth present an irresistible opportunity for expanding businesses.
What should a company that is already present in Romania do if the operation is not producing the desired results?
For each case of stagnation, it is worth developing a change action plan for the company's specific situation, but below we have summarised the most common factors:
Self-image, goals, strategy
Developing a self-image, setting realistic goals and developing a strategy to achieve them are essential for the success of a business, not only abroad but also at home.
Market research
Before an entrepreneur enters a new market, it is a prudent idea to carry out a market research survey of their segment. Only then can they formulate realistic market entry goals and strategies for success.
Relational capital
An optimally designed back office, reliable and established service providers and partners such as accountants, lawyers and couriers with fleet discounts, etc.
Translation
One of the characteristics of the Romanian market is its linguistic sophistication. It is of crucial importance to translate the company's website accurately, in a professional manner, at mother tongue level, especially if they also sell on the website. The perfect translation of a webshop is a critical success factor, since its reliability is questioned by a linguistic error.
Romanian native language customer service
The customer service must also operate with perfection at native level. Experience has shown that, for example, employees of Romanian origin living in Hungary speak the language with an accent and incorrectly.
Perfect written communication is not enough for a successful operation of the customer service, Romanians like to use the telephone and it is important that the customer service speaks native Romanian, a Hungarian accent is a distinct disadvantage.
Local partner
The key to a successful presence in foreign markets is a committed local partner with established contacts and fast revenue-generating channels to ensure efficient operations.
It is crucial for the operation of the business that the basic parameters listed above can be provided by this local partner.
At RONEXUS, we work as such partners to ensure the success of our clients.
We also design the terms of cooperation so that both parties are motivated to increase revenue through our individually tailored, commission-based fees.
We don't just give advice, we do it. From market surveys to running the business, we partner with our clients across the entire operation to drive the processes to optimise costs and increase revenues along common interests.
If you have further questions, we are available for an initial free consultation, we look forward to hearing from you:
HU: +36 70 294 2941
RO: +40 741 245 460