Expanding your business by reaching out to new Buyers from other countries is a valuable strategy for growth. To do this, you can use different ways and platforms, Like online marketplaces, or attend trade shows to connect international customers. Digital marketing, like social media or email campaigns, can also help you reach people abroad.
Market Selection For New Buyers.
This research helps you make informed decisions about which markets you should target for new buyers and how to tailor your products and marketing strategies to best appeal to them.
Take advantage of Market Insights & Analysis reports provided by TDAP.
Review online trade directories for new buyers data analytics (i.e. American Association of
Exporters and Importers, International Trade Centre (ITC), UNCTAD, World
Integrated Trade System (WITS), Pakistan Bureau of Statistics (PBS), and TDAP
trade data etc.).
The International Trade Centre (ITC) offers online tools called ITC Market Intelligence Trade Tools. These tools are designed to make global trade easier to understand new buyers and to help businesses access new markets.
- Trade Map,
- Market Access Map,
- Investment Map,
- Export Potential Map,
- Sustainability Map,
- Procurement Map and
- Trade Competitiveness Map.
According to a survey conducted by ITC in 2016, their market intelligence tools helped businesses carry out trade transactions worth about $300 million. These tools are especially helpful for businesses in least-developed countries, where local trade information may not be readily available.
Some key indicators to consider for selecting potential markets are for new buyers:
- The economic position of the country
- Size of the Market and whether it is expanding or shrinking
- Market growth in a given product.
- Unit price of the product. Whether it is more or less than other countries.
- Trade barriers
- Non-Tariff Barriers
- Tariff Barriers
- Location of the market etc
Marketing of products.
Good marketing needs planning ahead of time & Create a plan for exporting your products. then First of all please create a good website for your company before you start marketing. This ensures you have a digital presence online for new buyers.
Before you start marketing, make sure you have promotional materials ready. These include things like your company profile, brochures, and details about your products or services for export. Highlight your successes, showcase your existing clients, and bring your expertise. Also, ensure that these materials are available in the language of the country you’re exporting to.
- Actively participate in International Exhibitions.
- Ensure participation in International Delegations.
- Use different online shopping platforms to show your products effectively and attract new customers without spending a lot of money.
A few prominent E-commerce platforms are:
https://www.globalsources.com/
Social media marketing tools like Canva, Klaviyo, google ads, Facebook, and Instagram you can easily used for your targeted marketing.
Govt Support Abroad.
TDAP helps Pakistani exporters by offering subsidies to encourage their participation in international exhibitions. Guidelines for participation can be found on the TDAP website & Contact Pakistan Missions abroad to find potential importers, trade leads, and other trade-related assistance.
Most Important Link:
TDAP Calendar of Int’l Exhibitions https://tdap.gov.pk/wp-content/uploads/2020/09/Copy-of-eXHIBITION-CALENDAR-ONLY-FINAL-v1.1.pdf
Guidelines for participation in Int’l trade fairs/ exhibitions –https://tdap.gov.pk/wp-content/uploads/2020/10/Guidelines-for-Participation-in-International-Trade-Fairs-Exhibitions-converted.pdf
Trade Missions Abroad https://www.commerce.gov.pk/mission-abroad/pakistans-trade-missions-abroad/
