International Trade

Tips for Buyers Sourcing in International Trade

There are several processes attached to export trade and one of the most dreaded is sourcing for buyers for your products. This is a problem exporters face and not getting buyers could cause a severe breakdown in the business flow. This affects those who deal in agricultural products or edible products the most because they could spoil or lose value when kept in the storehouse for a long time. Such products need buyers who will even off-take before the harvest time. With the risks involved in not getting buyers, it seems to be a big problem.
Sourcing for buyers is not as difficult as you think. The difficult aspect of buyers sourcing is getting quality trade leads and sustaining a long-lasting relationship with them. With few strategies to be mentioned here, you will learn how to find quality international customers and create a long-lasting relationship with them.

The first strategy to adopt in buyer sourcing is to determine your target countries. It wouldn’t be a smart move if you just export to any foreign customer or country you see. You must conduct careful research of how these countries have behaved in international trade, their purchasing power before choosing them as an export target. Know if these countries will demand or need your products. For example, Nigeria is known as a dumping ground for the technological market. Countries exporting to Nigeria readily know we currently do not have the resources to produce technological tools for ourselves hence, the demand is high from foreign countries. To identify leads, you must know if your target needs your product, then from there, you start selecting quality importers from such countries.

As a Businessman or Exporter, I don’t need to tell you the importance of attending trade shows or international trade seminars. If you have not started to attend these shows, start now. Through international trade shows, you get to meet contacts from all over the world. Trade shows attract heavy international participation. Some Exporters even spend much to attend these meetings and if you won’t be able to attend, make sure you get updated on what happened in such meetings.

We cannot stress it enough that you need a website for your business and one of the ways you can use your website to attract foreign customers is by translating your marketing materials and contents into foreign languages. Translate your website into popular languages like English, French, Spanish among others. This will enable foreign customers who conduct searches through foreign languages to access your website.

If you follow the above processes, at one point or the other, a potential foreign customer might show interest in your products through a direct message or email. What is expected of your firm is to follow up on these potentials? You never know, that customer might be a channel to other quality customers in a selected country. This does not only apply to foreign customers alone, it is a quality every businessman must possess.

Before searching for buyers, you must have prepared your business land for export opportunities. Make sure you have a reliable forwarding company, you have determined the price, you have a legal strategy regarding the distribution of your products. Don’t make the mistake of waiting till your customer requests your products before you start making these plans. They must have been concluded. You don’t want to delay a potential customer, it might hamper your relationship with them.

Lastly, make sure anyone you are selling to is a quality customer. You could detect this through the size of their firm, their ability to prepay orders. Make sure they are not on an embargo list or list of the denied persons in export.  Once you know that your customer is quality, make sure you do everything to keep them.

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