Connecting with European buyers
European buyers are generally interested in meeting new suppliers, but they only want to do business with new suppliers that are better than the ones they already deal with. For this reason, it is crucial for foreign suppliers to meet buyers that match their exact requirements. A generic offer will not be accepted, so it is important to tailor your offer to suit the European buyer’s needs. While this report will help you connect with new buyers in Europe, it cannot guarantee you a successful deal.
Intermediaries are the most interesting buyer for you.
There are two main types of intermediaries: long-term relationships with companies and short-term relationships with brokers and agents. Intermediaries are long-term partners with companies, while brokers and agents work for commissions. Companies that use the internet for distribution may use intermediaries, or they may have their own sales teams.
An intermediary can streamline a series of transactions that can take a lot of time and money. For example, if a company like John Deere sells tractors through local farm machinery dealers, a single intermediary can reduce the number of transactions from eight to two.
Online matchmaking events
Whether you are a new supplier to Europe or a seasoned one, you can benefit from connecting with European buyers through industry sector associations. These organizations provide information on sourcing issues and can connect you with potential buyers through newsletters and matchmaking events. Most of these organizations publish a member directory online.
Most buyers in Europe are interested in hearing from new suppliers. However, they will only connect with new suppliers that match their requirements. It’s crucial to make your offering unique and perfectly compatible with the needs of European buyers. Avoid sending generic offers; they’ll be turned down.
Trade fairs
Trade fairs are a common marketing method for many European buyers. However, they can be costly to attend. Attending trade fairs is a good way to introduce your business to European buyers and learn more about the market there. Typically, European buyers are looking to purchase goods from new suppliers.
Trade fairs are often held for specific sectors, so you can expect extra space. For example, the automotive industry hosts thousands of trade shows every year. One of the biggest is the SEMA trade show, which focuses on automotive aftermarket equipment. Manufacturers rely on this show to showcase their latest products and services.
sustainability performance of your company
Today, 80% of global consumers expect companies to disclose their environmental impact and track progress. Companies must demonstrate progress by using appropriate data, leveraging technology, and setting ambitious targets. Companies must also be transparent about the impacts of their suppliers. If they fail to disclose this information, they risk being penalized. Companies should also measure progress using clearly defined metrics, including non-financial KPIs.
Sustainable practises are more important than ever as the effects of climate change continue to affect human beings and all other species. In addition to the environmental impact of products and services, consumers are increasingly concerned with labour practices, human rights, health and safety, and modern slavery. Companies that are able to demonstrate their commitment to these issues often perform better than those that don’t.
Connecting with European buyers.