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Identifying Potential Buyers

Your business has already identified its most potential markets and established a plan to enter them. For example, your business might sell directly to customers, utilize in-country representatives (agents or distributors) to reach end-users, or use one of the many B2B or B2C e-commerce platforms, or a mix of these. This blog discusses some of the resources available to assist you in locating buyers, assessing trade exhibits and missions, and generating sales.

 

Worldwide Buyer-Finding Programs of the US Department of Commerce

The U.S. Department of Commerce may assist exporters in identifying and qualifying leads from both private and public sources for possible customers, distributors, joint-venture partners, and licensees.

The U.S. Department of Commerce maintains an extensive network of commercial officers deployed in nations that account for 95 % of the market for U.S. products, in addition to its expertise in different products, countries, and programs. Regional teams are made up of officers from the U.S. Commercial service stationed in U.S. embassies and consulates across the world. You may choose Bulgaria as your target market, but if the market in Poland is better, you will be given that advice as well as consumer contacts in Poland.

This section lists the programs offered by the U.S. Department of Commerce, including those offered through the U.S. Commercial Service. For further information, exporters should contact the nearest U.S. Commercial Service office. At export.gov/usoffices, you may find a list of offices as well as contact information.

 

U.S. Exporters Featured (export.gov/fuse)

FUSE (Featured U.S. Exporters) is a list of U.S. products that may be found in the local U.S. Commercial Service websites. It allows your organization to target specific markets in certain nations using the local business language. In addition, qualified U.S. exporters seeking trade leads or representation in certain markets can use this service for free. Visit 1.usa.gov/1yIJRks to see whether your business qualifies and to get a free listing.

 

Market research tailored to your needs

Customized market research reports draw on the U.S. Commercial service's global network to assist U.S. exporters in evaluating their sales potential in a market, selecting the best new markets for their products and services, establishing effective marketing and distribution strategies in their target markets, identifying the competition, determining which factors are most important to overseas buyers, pinpointing exporting impediments, and understanding many other pieces of critical market information. These personalized reports will be created according to your instructions.

Contact your local U.S. Commercial Service office to request a customized market research study.

 

Matching Service for Gold Keys

The U.S. Commercial Service's Gold Important Matching Service is a tailored buyer-finding service available in key export markets worldwide. The service provides support with finalizing the purchase, transporting the products, and being paid, in addition to orientation briefings, market research, appointments with possible partners, and interpretation services for meetings. Contact your local U.S. Commercial Service office to arrange a Gold Key Matching Service.

 

Company Profiles from Around the World

An International Firm Profile (ICP) is a background study created by commercial officers of the U.S. Commercial Service at American embassies and consulates on a specific foreign company. These reports contain the following:

• Information about the business.

• The year the company was founded.

• Size concerning others.

• The total number of employees.

• Your overall reputation.

• The territory has been covered.

• Language proficiency.

• Handling of product lines

• The main proprietors.

• Financial references are required.

• Business contacts.

Each ICP also includes a general report from the U.S. Commercial Service officer who performed the investigation on the foreign company's credibility.

The ICP service is available in areas with insufficient private-sector credit and background information providers for local businesses. Many private-sector sources, such as Dun & Bradstreet and Graydon International (in the United States), offer credit reports on overseas corporations. Contact your local U.S. Commercial Service office for assistance in locating private-sector credit report sources.

 

Searching for International Partners

Teams of specialists from more than 75 countries work with the U.S. Commercial Service's International Partner Search to locate you the best strategic partners. You supply your marketing materials as well as information about your business. The U.S. Commercial Service interviews potential partners and provides you with a list of up to five prescreened firms using its extensive network of foreign connections. You save time and money by only engaging with prescreened firms interested in purchasing or selling your products and services. In just 15 days, you may get high-quality market data with the International Partner Search. The search returns information on each possible partner's size, sales, years in the company, and several workers, as well as a comment on the marketability of your product or service from each potential partner. You'll also get comprehensive contact information for important persons among possible partners interested in your business. Contact your local U.S. Commercial Service office for additional information or to request an International Partner Search.

 

Trade Event Programs of the US Department of Commerce

Because of their nature, some things are difficult to sell unless a potential customer gets the chance to see the items in person. Sales letters and brochures are useful, but a live presentation of items in the international market may be more effective. Participating in trade events like trade shows, fairs, trade missions, matchmaking delegations, and catalog displays is an approach for your firm to offer its products to a foreign market genuinely.

Trade shows are "store windows" where tens of thousands of enterprises from all over the world exhibit their products and services.  They act as a marketplace for buyers and sellers to meet at their leisure. Some fairs, particularly in Europe, have a centuries-long history. Furthermore, some purchasers find it simpler to collect in Europe than in the United States. Attending trade shows takes a tremendous deal of preparation. Consider the following:

• Ability to distinguish serious business prospects from "tire-kickers" (indecisive people who are never satisfied and aren't likely to become buyers)
• Obtaining space at the fair, as well as designing and constructing the exhibit
• Shipping products to the show, as well as unpacking and setting up the exhibit
• Providing proper hospitality, such as refreshments, as well as maintaining the exhibit. At the end of the fair, dismantling, packaging, and sending the display home

Often, information about large exhibitions may be found in a trade publication or association. In addition, many trade exhibitions, whether privately owned or government-sponsored, contain a U.S. pavilion dedicated to participating American companies. Contact your local U.S. Commercial Service office for further information, or go to 1.usa.gov/1x7zuao for a comprehensive list of trade events by nation, state, industry, or date.

Medtrade, which is aimed toward the health care services sector, and the Automobile Aftermarket Industry Week, which is attended by firms from various areas of the automotive industry, are two examples of yearly trade exhibitions.

 

(export.gov/ibp) International Buyer Program

The International Buyer Program (IBP) of the United States Department of Commerce sponsors large domestic trade fairs that feature U.S. products and services with significant export potential. Trade professionals recruit prospective foreign customers in marketplaces worldwide to attend certain trade exhibitions. These exhibits are widely marketed in targeted markets through commercial bulletins from embassies and regional offices, catalog publications, international trade associations, chambers of commerce, travel agents, government agencies, businesses, import agents, and equipment distributors. You will receive numerous significant complimentary perks as a U.S. exhibitor at an IBP event, including:

• Meetings with potential overseas customers, agents, and distributors from all over the world who have been contacted by ITA commercial professionals in over 150 locations.
• Global exposure of your products and services through the exhibition organizers' Export Interest Directory, issued to all foreign guests attending the event.
• Hundreds of up-to-date foreign trade leads in your business.
• ITA country and industry specialists provide hands-on export counseling, marketing analysis, and matching services.
• Access to an on-site international business center, where your company's representatives may meet discreetly with potential foreign customers, sales reps, and business partners, as well as get support from ITA professionals.

ITA selects and promotes about 30 trade shows each year, representing a wide range of industries.

 

(export.gov/eac/trade events.asp) Trade Fair Certification Program

The US Department of Commerce's Trade Fair Certification (TFC) program is a collaborative effort between private-sector show organizers and the US government aimed at enhancing US exports and extending US participation in international trade fairs. These trade exhibitions are critical entry points for American enterprises looking to enter and extend their presence in overseas markets. The approved show/U.S. pavilion guarantees that American businesses have a high-quality, diversified chance to sell themselves internationally.

Exhibitors from the United States will benefit from the following:

• U.S. exhibitors receive a pre-show industry/country market briefing.

• U.S. exhibitors receive one-on-one counseling on themes such as:

Overview of the market, prospects, and difficulties, as well as entrance tactics.

• How to find and work with an agency or distributor.
• Direct sales and distribution options are both available.
• Licensing and joint ventures
• Selling to a foreign government is a risky business.
• Factors and approaches for selling
• Promotion, advertising, and marketing are all terms used to describe how something is promoted.
• Intellectual property rights must be protected (IPR).
• Pricing methods are important.
• Customer service and sales support
• International Customer Profile, Due Diligence (ICP).
• Nuances and practices in business and culture.
• Technical specifications and documents.

 

• Arranging for official military or other foreign buyer delegations to visit U.S. exhibitors, if applicable.

• Coordination of other U.S. government entities' activities to assist the event at the post.

• Collaborating with the show/pavilion organizer to ensure that U.S. attendees have enough space and services.

• Assisting U.S. exhibitors with (IPR) protection during the exhibition.

Each year, the United States Department of Commerce certifies over 100 events in over 23 countries in a variety of industries.

 

Missions of Commerce

Every year, the U.S. Department of Commerce organizes or sponsors several trade missions. The missions involve U.S. corporations and Department of Commerce workers traveling to foreign nations, occasionally headed by a senior official such as the secretary or undersecretary. In the market they visit, participants interact face to face with prescreened foreign business people. Trade missions help American businesses save time and money by allowing them to meet with more eligible distributors, sales agents, and partners. Missions of the U.S. Commercial Services are industry-specific and focus on two to four countries every trip.  Specialists from the U.S. Commercial service will screen contacts, schedule business meetings, and handle logistics ahead of time.

This preparation is followed by a one-week tour by personnel from the U.S. firm to meet with the new prospects in person. Missions may help grow businesses and increase credibility in the national market by creating "buzz."

 

Agricultural Service Abroad (www.fas.usda.gov)

The Foreign Agricultural Service (FAS) of the Department of Agriculture may assist agricultural exporting businesses by establishing abroad partnerships. And providing marketing assistance through a network of counselors, attachés, trade officers, commodity analyzers, and marketing specialists.

 

USID (United States Agency for International Development) (usaid.gov)

The United States Agency for International Development (USAID) oversees programs that provide export possibilities for American providers of professional technical assistance and commodities. In addition, commodity import programs run by USAID in certain USAID-recipient countries and the agency's direct acquisition of commodities provide opportunities to export commodities.

Furthermore, USAID money may be available in some recipient countries to fund developmentally sound initiatives incorporating U.S. capital products and services. Information on grants and projects under consideration is accessible for exporters heading to developing nations where a USAID program operates.

 

Department of State of the United States of America

The Commercial Information Database System (BIDS, bids.state.gov) is an online trade lead tool run by the U.S. Department of State that aggregates business opportunities across the U.S. diplomatic system. In addition, every embassy has a commercial division that may provide further information on a specific business lead and other market-related services.

 

Millennium Development Corporation (MDC)

The Millennium Development Corporation is a governmental body tasked with supporting the world's poorest countries in developing their economies. Millennium purchases millions of dollars in products and services each year for use in partner nations, which must agree to strengthen their governance in exchange for the support.

Winning a contract from the Millennium Development Corporation is how many U.S. enterprises start international commerce. Many government agencies hire American corporations to work in other countries. Subcontracting with smaller specialty firms is common when major companies win bids for larger projects. Yours may be one of them. That is why it is critical to keep an eye on Federal Business Opportunities (FedBizOpps, fbo.gov). Make a note of this website.

 

Trade and Development Agency of the United States of America (ustda.gov)

By aiding American enterprises in seeking overseas commercial prospects, the United States Trade and Development Agency (USTDA) aids in creating jobs for Americans. USTDA assists American enterprises in competing for infrastructure and industrial projects in emerging markets by sponsoring feasibility studies, orientation visits, specialist training grants, business workshops, and other types of technical assistance. The twin purpose of the USTDA is to assist enterprises in getting in on the ground floor of export prospects while also making them competitive with substantially subsidized international competitors. Because of its narrow emphasis, USTDA only examines infrastructure and industrial projects that have the potential to grow into large export prospects for American businesses and create jobs in the U.S. Agriculture, energy and electricity, health care, manufacturing, mining and minerals development, telecommunications, transportation, and environmental services are major project sectors. Your product or service must fulfill the following requirements to be considered for USTDA funding:

• Faces stiff competition from international firms that benefit from government subsidies and other benefits.
• The project must be a development priority for the country in which it is situated, and it must have the support of the U.S. embassy in that country.
• Must offer a significant possibility for U.S. products or services sales that outweigh USTDA support costs.
• It must be likely to acquire implementation funding and include a procurement procedure available to American businesses.

 

Assistance from the State and Local Governments

Most states can assist exporters with a variety of services. Many countries have foreign offices in key markets, with Western Europe and Japan being the most frequent. State foreign offices, in collaboration with the U.S. Commercial Service offices at foreign embassies and consulates can aid exporters in establishing relationships in overseas markets by offering services such as:

• Providing particular trade leads to international buyers.
• Assisting trade missions with itinerary preparation, appointment scheduling, transport, and lodging, among other things.
• Organizing promotional actions for goods or services, such as attending trade events to promote the state.
• Assisting with the screening of prospective buyers, agents, or distributors.

Furthermore, State foreign offices also play a vital role in attracting foreign investment and increasing tourism. These services are being provided by an increasing number of cities and counties.

 

Publicity in Newspapers and Other Media

You may get a vast and diverse selection of periodicals addressing foreign markets through American publishers. They range from specialist international journals focused on specific sectors like construction, drinks, and textiles to global industrial periodicals that cover a wide variety of industries. A large number of consumer periodicals published in the United States are also available. Several are available in national-language versions (for example, Spanish in parts of Latin America), while others provide "regional buys" for specific export markets worldwide. In addition, some American company directories feature foreign agents by geography or industry specialty.

Publishers typically provide useful market information to potential exporters, offer particular suggestions for selling in the regions they cover, assist advertisers in finding sales representatives, and provide other services to overseas advertising.

Libraries, U.S. Commercial Service offices, and the U.S. Department of Commerce's reference room in Washington, DC have a wealth of informative publications and directories. In addition, state commerce departments, trade groups, business libraries, and big colleges may all have such resources.