When you first launch your business, the world may seem full of potential customers and opportunities for growth. But as your company expands, you may find that your home country just doesn’t have a big enough market to sustain your sales needs. You may start to turn your attention to foreign markets and worldwide expansion opportunities.
The question at that point will be how to find buyers for your export products. Read on to discover how to find clients on the international stage and keep your business growing and expanding.
Work with foreign agencies
One of the most reliable ways to find buyers for your export products is to work with a foreign import agency. Many countries have state-managed trading companies that work through embassies from other countries. If you can get contracts with these agencies, they can become some of your most reliable clients.
Do some market research and figure out which countries might be good candidates for your product target market. Reach out to their embassy or get in touch with the agency headquarters in their own country. Make sure you work with an import company that specializes in your particular industry. Start building a relationship with a specific representative who can help you.
Find buying agents
In some cases, foreign agencies will do more than wait for businesses to contact them about export products. They will have to buy agents in your country seeking out businesses like you. Getting in touch with these agents can be a great way to connect with those state-sponsored trading companies.
Once you find the countries you want to work with and the relevant agencies in that country, start browsing their websites. Look for local representatives, or get in touch with their sales department and ask for contact information for their buying agents. Double-check that the person you’re dealing with is an official representative who has decision-making power with that agency.
Deal with foreign wholesalers
In addition to state-managed agencies, you can also look for private companies from other countries to export to. Working with these companies can be quicker and simpler than going through trading companies since you don’t have to navigate all the red tape. And while these wholesale companies may cut down some on your profit margins, they can save you a lot of time and hassle.
Some countries maintain import-export lists of reputable foreign wholesalers, so check if your country has these lists available. If not, go back to your list of viable countries and start researching import wholesalers in your industry. Make sure you do plenty of research to confirm these companies are legitimate and reputable before establishing relationships with them.
Seek out commission agents
Much like trading companies, many foreign wholesalers have agents who seek out export companies. These people are called commission agents, and working with them can be a great way to establish partnerships with these companies. Usually, a commission agent will be authorized to make purchases on behalf of the wholesale company.
Finding a commission agent should be pretty straightforward since they’re always on the lookout for new businesses. These agents work on commission, so they’ll be very motivated to form a solid business relationship with you. This also means that working with these agents can be simpler and more accessible than a buying agent for a trading company.
Hire an internal salesperson
If you prefer, you don’t have to work exclusively through other companies’ salespeople. Trying to manage both client acquisition and business operations on your own can be extremely difficult. You may want to consider hiring an internal salesperson who can dedicate all of their time to forging new business relationships for your company.
You may want to consider paying your internal salesperson a base salary supplemented by a commission to motivate them to forge new sales relationships. They can work with all of the groups and agents we’ve discussed. They can even seek out individuals or companies who work in the direct B2C world to sell your products.
Attend trade fairs
Aside from doing research and contacting potential leads one by one, you may also want to consider attending trade fairs in your industry. These events involve large groups of potential clients, all gathered in one place. You can connect with dozens of new leads and start gaining a positive reputation for your company for a few days.
Of course, in the wake of the COVID-19 pandemic, many in-person events have been canceled. However, many industries are still holding virtual trade fairs where you can connect with potential clients. Register for these and be sure to be an active participant, meeting new clients through virtual forums and looking for opportunities to present to the entire group.
Use Kompass Solutions
Another great way to boost your global potential is to use solutions from Kompass. We have 500 employees who speak more than twenty-five languages in more than seventy countries worldwide. We also work with more than 59 million companies worldwide and can put you in touch with more than 78 million executives.
We can help you choose the right markets, thanks to the Kompass Market Ranking report.
We can identify potential distributors in Top countries thanks to the Kompass Worldwide Company database.
Last but not least, we can improve your online visibility to attract potential clients in the selected markets thanks to our Booster solution.
You can also use our RFQ section to find new international opportunities. We have RFQs posted from global buyers worldwide in a huge variety of categories. You can browse RFQs in your industry or in a country you’d like to work in so you can find the perfect opportunities for your business.
Find buyers for your export products
Working on the international market can be a great way to grow your company, but finding buyers for your export products can be challenging. Look for opportunities with trading companies and foreign wholesalers and their representatives. You may also want to consider hiring your salesperson and attending industry trade fairs.
If you’d like to learn more about finding buyers for your export products, check out the rest of our site at Kompass. We are your route to business worldwide and have been a leading business development partner for over 70 years. Ask for a demo today and start capturing new business opportunities with smart business data and digital marketing solutions.