How to find buyers for export business

How to Find Buyers For Your Export Products? It makes no difference whether you’re a first-time international exporter or a seasoned exporter trying to expand your business internationally in the export business. The major issue you have is constantly finding buyers for the products or services you offer. It’s never easy to sell in a foreign country. Physical distances, cultural differences, and language limitations are all factors to consider. Fortunately, we live in an era where technological advancements have reduced the size of our world and brought us closer together. This means that finding international buyers for your export firm is easier today than it was, say, 20 years ago. Ankush Dhawan best import export institute in Delhi, India provides export import training practically online at affordable price. The two primary components of an efficient export company plan are discussed in this blog. They are as follows:

How to use product analysis and market research to locate international markets for your export product

Finding and connecting with international buyers can be done both offline and online. Where does the demand come from? Determine which countries are interested in your export product. If you are a basmati rice exporter, for example, Iran is the main importer of this product from India, followed by Saudi Arabia. The leading importer of seafood in the United States, followed by China. What is the best place to look for this information? Government websites such as the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) provide a wealth of information. Expanding to international markets allows you to reach out to new clients and enhance sales. According to a Deloitte analysis, small businesses that export their products might make three times as much as those that solely sell locally. Connecting with international buyers can also assist to avoid risks like being vulnerable to local business cycles. All of this translates to increased competitiveness and prospects for growth. However, beginning an export company isn’t all roses and sunshine; it comes with a slew of new problems. International buyers with various features and preferences, political, legal, and economic risks, slower payments, sophisticated logistics, local restrictions, and complex contracts are just a few examples. In light of this, you must seek out the best international B2B partners to ensure a smooth export/import procedure.

A straightforward way to exporting
You can connect with overseas buyers using this strategy. Selling directly to importers, working with a buying agent for exports, locating international distributors and retailers, or selling to international B2B merchants are all possibilities. Please keep in mind that organizations with a specialized export department can take a more direct approach to export and save money. You’ll be in charge of the export company’s documentation, insurance, shipment, payment collecting, and marketing.

1. The method of exporting that is taken in a roundabout way

You only deal with intermediaries like Export Trading Companies (ETC) or Export Management Companies if you use the indirect way of “how to approach importers” (EMC). These are companies that, for a price, handle all of your export activities. They deliver the goods.Although this method is far more convenient — and in some cases, more effective – you risk losing control of your sales.

2.An exporting strategy that is proactive

This entails locating domestic purchasers who represent international corporations. Essentially, you’re looking for domestic players who are actively involved in foreign trade (retailers, distributors, government agencies, or trading corporations).

3. When it comes to exporting, there are two approaches: reactive and passive.

This strategy entails passively filling orders from domestic customers. Someone in domestic trade determines that your items match a specific overseas need and purchases them locally before exporting them. This is just like any other domestic transaction to the original vendor. METHODS FOR FINDING OVERSEAS BUYERS ONLINE AND OFFLINE — THE WHERE You must ensure that worldwide buyers are genuinely interested in your product offering if you want to secure export orders to fuel your international expansion efforts. This means that your business idea must be brilliant as well as appealing to an international audience of purchasers. Finding overseas buyers, on the other hand, is perhaps one of the most important and difficult challenges facing budding exporters. So, how do you go about doing it? How do some of the world’s most successful exporters locate trustworthy buyers? The process of locating international buyers often falls into two categories, as shown below: online and offline. Finding international buyers via the internet is a realistic option. The Internet and globalisation have transformed modern life, and the impact is felt most strongly in international trade. We’re more linked than ever before, whether it’s through smooth communication, fast transportation, instant transactions, access to internet marketplaces, or obtaining real-time market insights into a foreign market. Look no further than online sources if you’re seeking the most simple way to find overseas buyers. You can use Alibaba.com, freelance portals, social media, and SEO to research online B2B eCommerce platforms (search engine optimization).

1. Alibaba.com is a B2B eCommerce platform.

The relevance of Alibaba.com as a platform for communicating with international B2B buyers can be seen simply by looking at the stats. Alibaba.com now connects quality suppliers with over 150 million registered customers from across the world. In recent years, the number of buyers has increased by more than 30% yearly, with Europe, North America, and Latin America experiencing the highest growth.

2.Freelancing portals:Rather than actively seeking global buyers for your export items, a freelancing platform can help you find a buying agent for exports.

For instance, you might go to a site like Freelancer.com or Upwork.com and express your need for international customers to fulfil your exports, then choose the top freelance expert from the applicants.The freelancer is frequently well-versed and well-connected in the foreign market you’re targeting, allowing you to connect with international buyers and secure export orders. You can also hire someone to assist you with promoting your export business.

1. Social Media: Social media platforms are about more than just entertainment, developing relationships, and having fun. Aspiring export enterprises can take advantage of the platforms’ popularity to locate global consumers.
2. Search engine optimization: Someone is always seeking a dependable exporter, just as you are looking for international B2B traders. In today’s world, this usually just opening a browser and typing specific keywords into a search bar. In fact, according to industry studies, nine out of ten consumers2 look for a product or service online before making a purchase.

SEO (search engine optimization) is a collection of best practices for improving your SERPs naturally (search engine rank positions). When you use SEO, you make yourself visible to potential exporting or worldwide buyers. Alternatively, you can generate export orders by using PPC (pay per click) ads, in which your postings appear as ads on the first page of Google for specific keywords, but at a cost per click. Methods for locating international buyers that are not online  Exporters and importers connected in more traditional ways long before the internet era — and even after its development —:

• Trade shows and exhibitions:These are direct venues that allow small and large exporters to interact with export-import firms and foreign buyers. These events are usually industry-specific and serve as a focus for networking and product demonstrations. You could even be able to get export orders from one of these events if you play your cards well.
• Government organizations: Export Promotion Councils and Commodity Boards can provide a wealth of information to exporters looking for international clients. These organizations are tasked with assisting individuals like you in order to enhance the country’s export business. You can get in touch with potential purchasers.
• Personal trips: What better way to learn about a foreign market than to go there yourself? This is an old-school strategy that works well but requires a lot of resources. If you go this route, make sure you have a guide or contact in the country you’re visiting. Alternatively, you can gather essential information by contacting friends and family in a distant country.
• Promotion bureaus and market research firms: For a price, these firms use their connections in overseas marketplaces to assist exporters in finding global buyers. They provide overseas buyer lists, marketing advice for your export company, and information on shipments.
• Third-party agencies: To operate as your representative, you can hire a foreign middleman, export buying agents, foreign agencies, or a salesperson in the target market.

How can you tell if your buyer is genuine? After you’ve chosen a buyer, the following step is to double-check that they are who they say they are. Buyer verification is both possible and highly suggested with a few checks and the assistance of a few authorities (government and third party). Simply follow the steps below:

1. Verify that the buyer’s location and address are correct with a simple Google search.
2. Check out their social media pages (Facebook, Instagram, LinkedIn, etc). Their social media activity is usually a good indicator of how companies conduct business.
3. After these online checks, ask your possible buyer to provide certain documentation, such as their import-export license and a certificate of participation in a government trade organization (Export Promotion Council, for example). Check the documents against the information you found online once again.
4. Request a buyer verification from the Indian embassy’s commerce section in the buyer’s country. You can send an email to them. When the embassy receives your request, it will contact the government of that nation to verify that the certifications and licenses provided by the buyer are genuine. They will also give you information about the buyer’s credit history.
5. The ECGC, which provides credit insurance to Indian exporters as protection against non-payment, is another government organization that can assist you with buyer verification. The ECGC will assess the buyer’s creditworthiness through its international network. Its findings will also affect how much insurance coverage you can get for your exports.
6. In addition to government organizations, reputable private companies offer buyer verification services for a price. Two companies that specialize in credibility reports are Dun & Bradstreet and Bureau Veritas.
7. Finally, the easiest technique to check your customer is to pay a visit to their factory or business location in the target market. Though most exporters may not be able to do so, it is worthwhile if the transaction is significant.

How to make sure your buyer pays. This is where the ECGC (or similar government agencies) comes in. The ECGC, as we mentioned above, offers Indian exporters export credit insurance. An export credit insurance plan can cover up to 95% of your invoice value and protect you against the risk of non-payment. Should your foreign buyer default on a payment due to a specific risk mentioned in your plan, your insurance will cover you. To know more about export credit insurance and other ways to ensure your buyer pays you, read our blog here. 

How to Legally Start an Export-Import Business in (India)