3 June 2020
Working with international distributors comes with several advantages to your business. The first advantage is that you get to expand your client base while at the same time making it established.
The market size of international distributors is growing. As such, it shouldn’t be a challenge for you to find a reliable one who’ll take your business to the next level. Remember that trade, both local and international, demands for loyal players.
Check out these methods that you can use to find international distributors.
1. Government Resources
Every registered business can gain access to government resources. Such are designed to help it connect to the international market. The government avails a variety of tools that companies can use to connect with potential buyers. In the U.K. the government has the Export Champion Community.
It’s a community that has seen companies of all sizes across the U.K. benefit from first-hand advice. Over 1,000 businesses have entered the overseas markets through this community. Export Advocates associated to the Export Champion Community play a key role in promoting the government’s message about businesses going global.
The community works closely with the Department for International Trade. Their collaboration has made businesses thrive in exporting and driving both inward and outward investment. They’re also able to advocate for free trade between countries and gain international market access.
In the U.S., for example, there’s also the International Partner Search program, offered by the U.S. Commerce Department. The program connects you to specialists in over 80 countries. Once you provide them with the background and marketing materials, they’ll interview potential partners for you. Their services include helping you
- Get high-quality market information on marketability and potential sales
- Obtain relevant contact information on principal officers of each prospective partner
- Access all this information in 30 business days or less
Wherever you’re based your local government has several resources you can use to connect to international distributors.
2. Trade Shows
One of the most potent places to find potential business partners is at the trade shows. You can target them in local trade shows or in the markets you target for expansion. You can always get updates for upcoming trade shows through the Trade Show News Network.
It publishes data on the top upcoming events in the United States and Canada. On the TSNN site is a searchable database that lists all shows across the world.
In Europe, the UFI is one of the largest global tradeshow organizers. It draws membership from 86 countries and has 789 registered member organizations. The organization strives to provide the international business community with a unique marketing media.
You can also sign up with the Association of Event Organizers; a trade body that represents international businesses. While thinking of which trade shows to attend, consider having a booth on the grounds. You’ll market your business while gaining exposure to find potential international distributors.
3. Trade Associations
Trade associations are another useful avenue for finding potential partners. One example of an association is the World Trade Centers Association. It operates in about 88 countries across the world through 317 affiliates.
One of the services the association offers is physical infrastructure for business in local markets. The association provides networking and programming opportunities. Through them, you can connect with sellers with suppliers in local markets.
Some World Trade Centers are industry-specific. For example, some focus primarily on real estate, while others offer a wide range of services for a variety of industries.
Another potential source of information is the American Chamber of Commerce. It provides you with market data, trade opportunities, and potential trade partners from across the world. Both U.S. and non-U.S. associations can provide detailed information related to specific industries.
4. Online Marketplaces
One of the renowned online marketplaces where you can get relevant connections is Kompass B2B Portal. Here all types of businesses, both large and small, can access a wide range of business solutions to meet their needs.
Through the portal, more than 75 countries have connected internationally. Over the years, the company provides tailor-made services in overseas markets. Businesses from across the world can join the platform and get help overcoming any potential export barriers.
Making the Most Out of International Distributors
Once you’ve found a global distributor you can work with, ensure to make the most out of the deal. The distributor will only help you soar if your products are market-ready. Unfortunately, most sellers aren’t ready to sell to international markets because they’ve not made their product outstanding.
Some of the things the seller should work on improving are packaging and pricing. You want to upgrade from local to international standards of packaging. You also need to find a balance in pricing so that there are good profit margins for all the players in the supply chain.
It’s also crucial to prepare statistical information targeting the retailers. They could indicate how much space is required for the product, on the shelves, and in the warehouse.
As a seller, you also must prove to the distributor that your product will sell. You can do this by selling to a few local retailers as proof that consumers will buy. Remember that even then, the distributors may not reach out to you, and you might have to call them.
Proving that the product can sell also calls for creating demand for it. It’s up to the manufacturer to make consumers want the product. Once this hurdle has been solved, distributors will quickly sign up for business with you.
Distributors play a very crucial role in getting your goods and services moving. If you’re aiming at doing business internationally, it’s advisable to have international distributors in your supply chain. Many platforms exist that connect you with the suppliers.
One very trustworthy source is government resources. Programs like Export Champion Community serve to open up our world to well-established global suppliers.
You may also check online marketplaces Kompass B2B Portal. Trade associations and trade shows are also other potential sources of business partners.
Once you get the connections, ensure your goods are market-ready. It’s not upon the distributor to convince consumers to buy your products. Make their work easier and they’ll help your business thrive internationally.
Do you need help in growing your international business? Talk to our professional team.