One of the most cumbersome challenges for an exporter is to find buyers for export in an international market. There are several reasons behind this, but most importantly, lack of information on suppliers/sellers tops the list.
We live in a technology-driven society where businesses strive to do better than their adversaries. In this scenario, it is only fair to use modern-day strategies to help an export business grow its trade everywhere.
This article gravitates towards ways and strategies that would help exporters find buyers for export of goods and services.
Strategies to Find Buyers for Export
1. International Tradeshows
International tradeshows are socializing events where buyers and sellers meet. These tradeshows enable the exporters to assess competitors and locate buyers for their export business.
The benefits of attending a tradeshow are endless; one can conveniently connect with many people under one roof.
Here’s What You Need to Attend a Tradeshow:
Contrary to popular belief, one does not have to be a part of a big company to attend a tradeshow or have a top-notch product; in this case, the intention to sell your product is more important.
Also, when you are clear of your purpose to attend a tradeshow (either buying or selling), start searching for tradeshows online or hire an agency/company that would help you do it.
The next step is to book a slot in the ideal tradeshow, channel your inner Harvey Specter and give the best closing.
Predominantly, sourcing agents help buyers connect with suppliers, but conversely, an agent can also be hired by the seller/exporter. Agents are social and have a vast network, and they could leverage this quality to help an exporter.
An agent will help you to communicate and negotiate with the potential client on your behalf and also speed up the transaction process for your export business.
Paying a commission to the agent will undeniably increase the total cost of your business, but it will give the exporter the opportunity to focus on other business activities.
3. Social Media
Social media is a very powerful force/medium that connects people across the globe. Exporters can use social media to find buyers in different markets by marketing their products online.
The most commonly used platforms for this purpose include Facebook, freelancing websites, and Alibaba.
Exporters can also use Facebook as a means to connect with buyers. It is cheap and allows maximum virtual interaction. There are many groups on Facebook where buyers and looking for sellers and vice versa. One has to stay active in those groups; the higher the engagements, the better would be the results.
On websites such as fiver.com, one can create an account as a seller and ask for potential buyers for his export goods in a particular market.
4. Use B2B Digital Platforms
B2B means business to business. It is a type of commerce where goods and services are transacted among two businesses instead of end customers.
The most common type of B2B e-commerce platform is Alibaba; however, there are many other similar platforms as well.
On websites such as Alibaba, one has to register himself as an importer/exporter and start working. A user can reap maximum benefits from the website by becoming a gold member. As a service expert, Alibaba provides customer support service to its customers and offer suggestions on becoming a high ranking seller on the website.
Trading companies are those companies that take part in the export-import process on behalf of the company. Every country has such companies; they buy products from a seller and sell them in the market where they know the product will live up to its potential.
When you have identified an international market for your export goods, get in touch with their embassy or directly with the trading company.
These companies provide several services to the exporters/sellers:
- They negotiate the terms and conditions of the contract.
- Help the exporter with transportation and other logistics issues.
- They help with customs clearance when the shipment reaches the host country.
- They also help the business with distribution of goods.
In summary, you can find buyers for export in 2021 through the following:
- International Tradeshows
- Commission Agents
- Social Media
- B2B Digital Platforms
- Trading Companies/Agencies
While trading abroad, many exporters face problems locating buyers for their products in the foreign market. The reason is that the buyers do not have adequate information on suppliers, and they are clueless about how they can approach authentic sellers.
Approaches discussed in this article are suitable to implement in a modern and competitive world and would enable an exporter to discover buyers in a foreign market effectively.