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If you have a stable business in your home country and now wish to capture global opportunities by tapping into new international markets, this guide is for you.
Regardless of what product you are selling and which region you aim to target, it all comes down to the one-million-dollar question: How to find international buyers for export goods. Since you have made up your mind to sell goods to foreign customers, you must have already contemplated the challenges that come with the plan. Needless to say, reliable buyers are the key ingredient to any successful export business recipe. It would be great if one could create a loyal global buyer base, but how to do that? This article will discuss all the questions you have in mind concerning how to find international buyers for export business.
Export business roughly translates to selling goods in a foreign land with a different language, culture, and trade regulations. Businesses who neglect to move beyond local markets can never grow past a certain point, leaving an opportunity gap for someone else to fill in. Deloitte reports express, businesses that export their products earn 3x more than those who fail to recognize this opportunity. Improved competitiveness and better business growth are in-tune with reaching international markets.
When supplying to local markets, opportunities are limited. With time the market becomes saturated, and businesses start to struggle. On the other hand, exploring foreign markets open the door to endless trade opportunities.
Market share represents the magnitude of business stability. International markets help businesses to win more customers and generate higher revenues, capturing a larger market share than possible with only local dealings.
After a time, the appeal for any particular product seems to die down locally. But your business does not have to end there; you can export the same products to different markets that welcome them.
International exporting helps minimize the seasonality effect. Products that are off-season in your country might be the hot trend in another.
When working with different markets, businesses are inspired to come up with innovative solutions. It helps them to create new products, use different selling strategies, and generate greater profits.
Approaching international buyers is not a bed of roses – True. But it is not impossible either. There are multiple trusted activities you can participate in. Whichever approach you choose, be sure that it is pursuant to your goals.
Assuming you have set your mind on a target market and what would be the best product for that very market, there are some practical things that you need to consider. Do you have all the documents ready in the relevant language? Is your brand name easy to pronounce? Can you handle international payments?
When going after international B2B buyers, you must have a clear idea about your resources. What budget do you wish to allocate to export business? Do you have enough human resources to run operations smoothly or not?
One thing that many businesses fail to understand is competitiveness. Before going all-in, be sure to check out what competitive advantage you hold against your target market's competitors. This will set your products apart and help in getting buyer attention.
Considering all these factors, it is now time to explore the ideal ways to find international buyers for your export business. Kudos to technical advancement; now, finding overseas buyers is easier than ever. Whether you wish to embrace the internet and globalization or you wish to go with the traditional methods, it's your call.
From vast options, direct communication, fast delivery, and instant transactions, online methods to find international buyers are welcomed with open arms. Worldwide traders are shifting from their traditional approaches to the digital world. With the internet as your prime business partner, not only can you get real-time market insights, but you can also reach a broad audience that is otherwise impossible.
If you wish to know what is the most convenient yet reliable way to find international buyers, then online methods are what you seek. Online marketplaces, SEO, and Social media can help you with your goals.
Tradewheel.com is trusted globally for its premium services, advanced marketing approaches, and unmatched customer service. Serving more than 100 million global buyers worldwide, it is one of the largest online trade marketplaces that serve thousands of customers daily. There is no better online place to find umpteen online buyers in one place.
Working on more than 56 industry domains, it is a diverse marketplace that can be translated into different languages for better user understanding. Having a rich history of satisfying customers for more than a decade, Tradewheel.com is traders' first choice when it comes to finding overseas buyers and domestic buyers.
What is the first place you go to when finding a supplier for your product? Browser, right? So, think like your customers and be available where they might be looking for you. SEO (search engine optimization) is the ideal approach if you wish to be discoverable for global buyers.
SEO is the best possible path if you wish for global buyers to find you. Research shows that every 9 in 10 buyers search browsers prior to making the purchase decision. SEO will organically improve the rank of your website, enabling buyers to find you. Alternatively, you can use paid practices like PPC to be visible to your potential overseas buyers.
Is social media just for mingling and staying connected? If you still believe in that version, then you are missing out on a great opportunity! Social media is just as beneficial for businesses as it is for enjoyment. There is so much more to social platforms than meaningless chats and entertainment. B2B marketer actively uses social media platforms in order to find new international buyers. Facebook, LinkedIn, YouTube, Twitter, Instagram, all these can be used to promote your brand and gain customers from foreign lands.
Although offline methods are not recognized as effective as the internet to find new global buyers, they are still used as supportive approaches to complete the export strategy. Some of the best traditional export tactics are:
Trade fairs and exhibitions are certified to help businesses find genuine global buyers. Although it can take some time and effort, trade fairs are a more direct platform to meet buyers. Organized all over the world, these exhibitions allow buyers, sellers, and other stakeholders to come together under one roof and discuss business.
Even though embassies are not trade-centric, these government bodies are great for getting the right trade-related information. They have access to local news and market trends; this can help exporters expertly tap into the foreign market.
Another trusted approach is to connect with the buying agents available in the host country. You can hire a buying agent, and then it is their task to find the right buyers for your products in their local market. Although this method is quite time-consuming yet, it can easily help you find the right international buyers.