Using import-export data to find new buyers is an excellent way to expand your market reach. Here are some effective steps to leverage trade data in discovering potential buyers:
How to use import export data for overseas trade?
- Identify Target Markets
Start by analyzing import data for regions where your product category has high demand. For instance, look at countries with rising import volumes of your product type. Prioritize markets based on factors such as economic stability, demand consistency, and trade policies. - Analyze Competitor Export Records
Review export records of competitors in your industry to identify who they are selling to. By studying their shipment history, you can pinpoint active buyers and approach these potential clients with a unique selling proposition. - Filter Buyers by Product Codes (HS Codes)
Use the Harmonized System (HS) codes associated with your product to filter importers who have recently purchased items within that category. Many import-export data platforms allow you to search by HS codes, ensuring the data is relevant and specific to your products. - Examine Buyer Import Frequency and Volume
Look for buyers who have a steady import frequency and high volume for your product type, as this indicates a stable demand. These buyers are likely to seek reliable suppliers and may be open to forming partnerships for consistent supply. - Use Trade Data to Build a Direct Outreach List
Compile a list of active importers, including their contact details, from the data. This list can form the basis of a targeted marketing or outreach campaign. When reaching out, offer insights into how your product can benefit their business, and if possible, provide market intelligence to show your understanding of their needs. - Leverage Trends and Forecasts to Time Your Outreach
Analyze seasonal and market trends from historical import-export data to time your approach. For instance, if a buyer typically increases orders during specific seasons, reaching out just before their peak season can increase your chances of securing an order.
By systematically analyzing and acting on this data, you can uncover opportunities to connect with new buyers and build strategic relationships, ultimately expanding your market reach.
How to use import export data to find new buyers?
Import-export data can be a powerful tool for identifying potential buyers for your products or services. Here’s how you can leverage this data to find new business opportunities:
Identify Potential Buyers
- Search by Product: Use the data to find companies that have imported similar products to yours. This gives you a list of potential buyers who are already active in your target market.
- Search by Country: Focus on specific countries where you want to expand your business. Analyze the import data for those countries to identify companies importing products relevant to your offerings.
- Search by Buyer Profile: Refine your search by looking for buyers with specific characteristics, such as company size, industry, or purchasing history.
Analyze Buyer Behavior:
- Identify Buying Patterns: Study the import data to understand the buying patterns of potential buyers. This includes information on purchase frequency, quantity, and preferred suppliers.
- Identify Competitors: Analyze the data to identify your competitors and their market share. This information can help you develop effective marketing and sales strategies.
Build Relationships:
- Direct Outreach: Once you have identified potential buyers, reach out to them directly through email, phone calls, or social media.
- Attend Trade Shows and Conferences: Participate in industry events to connect with potential buyers in person.
- Leverage Online Platforms: Use online platforms like LinkedIn to connect with decision-makers at target companies.
Utilize Data Providers:
- Paid Data Providers: Consider using paid data providers like Tradesparq. These platforms offer detailed import-export data, including contact information for buyers and suppliers.
- Free Data Sources: Utilize free resources like government websites, industry associations, and online directories to gather import-export data.
Additional Tips
- Verify Information: Always verify the accuracy of the information obtained from import-export data.
- Personalize Your Approach: Tailor your outreach efforts to the specific needs and interests of each potential buyer.
- Build Trust and Credibility: Establish strong relationships with potential buyers by demonstrating your expertise and reliability.
- Be Patient: Building new business relationships takes time and effort. Be persistent and patient in your approach.
By effectively utilizing import-export data, you can identify new buyers, understand their needs, and develop targeted marketing and sales strategies to drive business growth.
What is the import export data?
Import-export data provides detailed records of goods moving across international borders, capturing transactions between exporters (sellers) and importers (buyers). This data typically includes information such as:
- Product Description and HS Codes: Details about the products being traded, often categorized by HS (Harmonized System) codes, which are internationally standardized product codes.
- Quantity and Volume: The quantity and total volume of goods shipped, helping analysts understand demand and supply scales.
- Value and Pricing: Transaction values, such as the total value or price per unit, which give insights into market prices and economic trends.
- Shipment Dates: Dates of shipments help track trends over time, useful for identifying seasonal demand or market cycles.
- Origin and Destination Countries: The country of origin (export) and country of destination (import), useful for analyzing trade routes and understanding regional demand.
- Buyers and Sellers: Information on companies or individuals involved in each transaction (where available), useful for identifying potential business partners or market competitors.
Access to import-export data can help businesses in market research, competitive analysis, sourcing, and finding new buyers or suppliers.
What are best providers of import export data?
There are several reputable providers of import-export data, each offering unique features and coverage that suit different business needs. Here are some of the best providers:
- Tradesparq
Tradesparq combines trade data with a social network model, allowing users to directly connect with verified suppliers. Their data is useful for businesses looking to source products and identify suppliers while building industry connections. - ImportGenius
ImportGenius offers import and export data for a wide range of countries, particularly strong in North and Latin America. They provide detailed information on shipment histories, including buyer and supplier details, product descriptions, and customs records. Their platform also includes tools for tracking competitors and discovering new business opportunities. - Panjiva (by S&P Global)
Panjiva is known for its comprehensive global coverage, providing access to millions of shipment records from over 30 countries. It offers insights into supply chain dynamics, competitor analysis, and sourcing opportunities, making it particularly valuable for larger businesses looking for a global perspective. - Datamyne (by Descartes)
Datamyne specializes in U.S. trade data but also provides import-export information for Latin America and Asia. Their platform includes advanced search filters for specific products, companies, and regions, and it’s popular with logistics and market research companies. - Trademo
Trademo offers a user-friendly platform with global trade data, including detailed information on buyers, suppliers, products, and shipments. They also provide compliance and financial data, making it a suitable choice for companies looking for end-to-end trade insights. Trademo’s platform also integrates AI for deeper data analytics. - Kompass
Kompass provides business-to-business data with a strong focus on trade leads, industry analysis, and company profiles. While it’s less focused on specific shipment data, it excels in helping companies identify potential trade partners worldwide. - TradeMap (by the International Trade Centre)
TradeMap is a free tool provided by the International Trade Centre, a UN organization, and offers trade statistics for over 200 countries. While not as detailed in individual shipment records, it’s a great resource for high-level trade analysis and market research, especially for SMEs. - Export Genius
Export Genius provides detailed customs data, including shipping records, for over 60 countries. They specialize in both import and export data and cover regions like Asia, Latin America, and North America, offering insights into buyers, sellers, and market trends.
Each of these providers offers different levels of detail, geographic coverage, and industry focus, so choosing the best one depends on your specific business goals and the regions you are interested in.