Finding the most suitable buyers for your goods is the first step in expanding your brand. While improving product quality and range is a top priority, it is vital to generate sales and profits. This is where the international buyers come into the picture.
In 2020, there was a 46% month-over-month jump in cross-border e-commerce revenue. In other words, adding international buyers to your clientele can improve your revenue.
To find global buyers online, it’s important to first recognize the multi-faceted advantages they offer. International buyers not only help increase income but provide wide exposure for your company.
This scales up your brand’s growth and boosts sales and revenues.
However, selling in a different country is not a mere cakewalk. There isn’t a hard-and-fast formula to find buyers for export as such. The challenges in the way of finding buyers largely depend on what you’re exporting and to which country or region.
Nevertheless, it is easy for entrepreneurs to lose direction when trying to expand their business internationally. Below are some of the most efficient ways to expand your company globally via international buyers.
Where to Find International Buyers For Your Products?
Here are some of the most innovative ways where you can find global buyers online:
1. Commission Agents
Similar to the real estate industry, where you deal with property dealers and not the owner, when dealing in international markets, you communicate with commission agents.
Commission agents are the middlemen who assist businesses in finding and buying varied export products on behalf of a foreign wholesale distributor. They form an easily accessible communication channel for seamless deliveries between you and the buyer.
You can conveniently deal with a local agent rather than a foreign-based one. This way, they find buyers for export which help you generate increased sales and revenue in the international market.
2. Trade Fairs and Expos
Large-scale public exhibitions, also known as expos and trade fairs, are some of the busiest marketplaces where companies from around the world stop by in search of business opportunities.
You can book a stall and advertise your product in these trade fairs. At expos, you can interact with various international buyers and expand your business outreach.
You can expect interested global buyers to take the time to understand your product in detail and can find potential buyers for your products. These exhibitions are often specific to an industry where buyers, sellers and stakeholders come under one roof.
All the information regarding upcoming fairs stays with the trade ministry and the respective export council.
3. Foreign Agencies
Most foreign countries have state-controlled organizations, widely known as trading companies. These usually import products in huge quantities. Find the countries where your brand can possibly scale up and contact their embassy either in the USA or in their country itself.
Since the US embassies usually have a representative who assists people with their queries, communicating with them can help you get in touch with potential global buyers online. Not all the foreign agencies stick to a single import category; rather, they specialize in distinct materials.
These majorly include IT/ agriculture, raw material, and many more. You can deal with these representatives to acquire international buyers at a faster pace.
4. Foreign Wholesalers
Just like the US has wholesale distributors, there are wholesale distributors in other countries as well. Such import-export organizations have a long list of reputable global distributors, saving your time in searching for the same.
You can use this valuable time to focus on other essential factors of selling your product to the international market.
5. Buying Agents
Local embassies are one of the most helpful sources of buyers for export. Some of the foreign agencies take proactive steps and hire some buying agents. These agents assist suppliers like you in finding the right buyers for their products and expand their income.
Before you initiate a call with any of these agents, make sure to leverage the power of the internet. Browse their complete website or thoroughly research local representatives. This provides you with the assurity of dealing with the right person.
Also, make sure you deal with an accredited representative of high authority who can confirm your deals on behalf of the agency.
Verifying the legitimacy of your buyer once you’ve found one is vital to ensuring your business stays intact. You will need to take steps beyond researching your buyer on the internet by looking for them on search engines, browsing through their website, and checking their social media accounts.
It is vital for you to ensure that the buyer holds a valid import-export permit and has a certificate of membership of a government trade body. You could also rely on a private company to verify the buyer for you.
Visiting the buyer’s factory or office in the target market is the final check that will ensure that you’re doing business with the right people. While an on-site visit may not be practical for most exporters, if your transaction is large, it’s best to invest the time, money, and effort to visit the premises.