Before getting into the complexities of B2C and B2B, let’s have a brief recap of the concept of lead generation. Lead generation is a marketing term, commonly used in Internet fraternity that refers to the generation of interest among the consumers regarding a product or service of a business.
Categorization into B2C and B2B
The understanding of the target market is necessary for any business to strategize and eventually stay afloat. An acquaintance with the needs, tastes and interests of the target market helps an organization to plan accordingly and be able to come up with suitable lead generation. For simplification, the target market can classified among any one of the two large groups
Although, the two classes bear narrow distinction, yet the classification is relevant for the fact that the two require different approaches for lead generation.
Techniques for Lead Generation
In context of Business to Consumers, simple advertising is perhaps the best tool for lead generation. Consumers who look for products and services for personal applications are interested in the same once they encounter the respective and frequent advertisements. If in any way they relate themselves with the product, they are curious to know about it. The basic principle of advertising is AIDCA, i.e. Attention, Interest, Desire, Conviction and Action, come into play for the consumer.
Business to Business is altogether a different ball game, to talk in terms of cricket analogy. The prime requisite for lead generation in this case is specialization and a direct interaction with the target market. Specialization, in this context means that the product or a service for a business firm should be specifically meant for it so as to cater its organizational demands with maximum efficiency.
In the case of B2B, advertising proves to be useless altogether. The reason for this is the target market, which comprises of people busy in running their own business. They, on most of the occasions don’t have the time to watch your product in advertisements unlike housewives and children. Here, the lead generation technique seeks a more direct approach such as telemarketing. Telephone proves as one of the most useful tools for a direct interaction, a pre-requisite of B2B.
B2B Lead Generation
In this new age of global communication, import and export trade leads have made it quite easy to find a host of online business services, offering international trade leads. You just need to post a request for import or export trade leads, and soon you will receive calls of interested business parties around the world.
What are Trade Leads?
Also known as Import Trade Lead, Export Trade Lead and International Trade Lead, the Trade Leads are kind of written advertisements, intended as buying or selling offers for product(s) or service(s).
What functional benefits do these Trade Leads provide?
Practical application of international business services helps in:
- Reducing transaction time and costs
- Reducing supplier costs
- Generating new business contacts
- Increasing sales
It is not only sellers who post online trade leads; buyers also get benefited from posting online advertisements. The establishment of business relationship is very much likely if the specifications of buying offer, for a product or service, meet the seller’s portfolio.
Key factors of successful international trade lead posting include:
- Clarity - Clearly state what you offer or what you intend to buy.
- Conciseness - Use short sentences to describe the products in a crisp and brief manner.
- Detailed Information –
- Clearly tell about the product selling, and shipping terms and conditions.
- Clearly state your destination if you are a buyer.
- Hyperlinks to product page –Always post the links of your website or web page on a website, where your trade lead can be seen by buyers or sellers.
Having taken the right steps, international business leads can prove as profitable matter for your business. So, you just need to follow few simple tactics in trade lead matters, and you’ll be amazed to see their magical results.
It is a general fact that world economies need goods and resources from each other to develop and prosper along with the global markets. And, to fulfill these needs, a number of traders put in their time, effort and money in a trading business that can also pay off lucratively. All these traders formulate effective marketing strategies to patronize their consumers, and thereby grow their import export business. In a trading business, especially that involves trade across global borders, the following points can help traders significantly. So, just read them once: -
Role of WTO:
- With the involvement of WTO’s institution in worldwide trade market, the whole process of import and export has simplified manifold.
- The WTO guidelines provide wonderful opportunities that can be passed on to any businessman wanting to keep hold of a successful import & export business.
Advantages with WTO:
- Fewer tariffs
- Less trade barriers
- Import quotas
- Restrictive rules and regulations
- Unbiased, free and well-organized trade flow
Well supported by Advanced Technology? Well, that’s not sufficient!
With the use of advanced technology everywhere, we are able to work conveniently. But, a businessman has to take into consideration a lot of matters that are closely interrelated to his profits. It is unwise to simply rely on modernized technology to assess if your business is progressing or not!
It’s all in Marketing Plan:
Marketing strategies need to be correctly designed and implemented, in order to succeed in any business.
Selling v/s Marketing: what’s the difference?
Selling and marketing are completely opposite from each other. Marketing is a process of promoting products and encouraging people to purchase them.
What does it aim for?
It aims for making people see what makes the products sold by the import export business highly different and why it’s worth a consumer’s money.
In order to get success in import export business, you must empower yourself with the sufficient knowledge and skills. It is always advisable to go for an import export business training course that will surely help you in successfully running your business. These may be pricey but committing mistakes along the way may cost more if you don’t undergo these trainings!
To take the business to the global level is the main aim of every businessman. For the successful expansion of his business, a businessman opts for different strategies so that a strong path can be built to deal across territories. They make sure that endless opportunities come their way without involvement of higher risks. You need to clearly understand the business strategies, which will expand your business in a better way.
Various Options To Enhance and Expand Your International Business:
1. Represent your business by opening a local office:
To expand your business abroad, you need to have a local presence in the country where you are planning to expand your business. This will give surety to your clients that you are genuine businessman and are able to carry the business efficiently. Another reason of opening your local office abroad will ensure your customers that you have a proper understanding of international markets and have in depth knowledge about international strategies. But, along with these advantages you also have some disadvantages towards it:
- You need to take all the responsibility in case of any legal issues.
- To set up finances you need to take tax advice.
2. Search For A Foreign Distributor:
If you are able to find out the right foreign distributor, then you can save lot of expenses which might drain in setting up a foreign office. You will not be concerned about any legal issues as it will be the responsibility of the distributor. With these cons, some pros need to be highlighted:
- Might lose control over sale strategy
- You need to give notice to the distributor if you plan to end the agreement.
3. Enter Into A Joint Venture: To expand your business abroad you can think of entering into a joint-venture which will increase your local presence and will lead to the possibilities of mutual benefit. As every coin has two sides, even this point has some disadvantages associated with it.
- Intellectual property can run into risk
- Need to have through knowledge of legal responsibilities
The above development strategies will give you a proper understanding on how to lead your business abroad without any tribulations.
Today, the main purpose of any company is to plan, execute and distribute ideas according to the organizations objective with whom they are dealing. This process is not only applicable in domestic markets but also in international markets. To actively build relations with international companies, the use of International Marketing has become important. Completing the task of the international clients is a much bigger task as compared to domestic clients. Your main purpose is to build trust with the international customers so that you can carry a strong relation with them.
There are various reasons that why should companies opt for international marketing as compared to other traditional marketing:
Build Long Term Relations With The International Clients:
International marketing helps to create a strong relationship from the basic level as the main goal of the marketing is to seek a long and a profitable relationship with their targeted customers. This type of marketing will help companied to learn about the growing trends in the international sphere as they are dealing in a bigger and profitable job while building international relationships.
Start The Basic Level Of Conversation With Your Clients Through International Marketing:
When you begin with your marketing strategy you need to move one step further by starting your conversation with your international clients. Through the conversation you will get the basic idea about the needs and wants of your foreign clients. You will also get proper understanding that how to deal with the new foreign market which will help you to generate more sales. In the end, you will also come to know that how the foreign market wants to use your product.
Before Marketing Your Product Understand The Culture Of The Country:
The main aim of the marketing is to sell products to people of different cultures. You need to narrow down your thought to the basic level of communication, to understand the needs of people of diverse cultures which will build a good foundation of your marketing skills.
If you want to deal with international clients, you need to keep your basics verified and should have clear understanding about the marketing process.
It is rightly said that cost, demand and competition are the three key factors that determine success of a trading business. To attain a distinguished position in international market, you should be able to source products at such a cost which is better than your competitors. This is because production cost is considered to be the most vital part which determines the success or failure of any trade business.
The factors that play critical role in trading are:
- Sourcing directly from producer: Avoiding involvement of any middleman in your trading business.
- Make best Use of Leveraging incentives like special export processing zone, and cheaper export credit.
- Sourcing from those places that have traditionally excelled in producing quality products makes all difference.
Besides all this, a practical approach in product selection is a must. The key factors, determining the product selection, are listed below:
- The product’s manufacturing or sourcing should be in compliance to consistent quality standards such as ISO or equivalent certification
- The available stock of products should be sufficient enough
- The product should be priced reasonably
- A special care should be taken for the packaging and labeling of products, especially of the products that are of perishable nature
- All the export related matters should be dealt with utmost care and in compliance of norms laid by the government
- Mode of transport and need of logistics
There is no exact way out – one should check various alternatives and take a decision that provides better sourcing solutions. However, the cost factor should be considered as the most crucial criterion in this. It is necessary to perform homework before finalizing a competent source of products.
Companies that want to reach a huge number of potential customers, under one roof, participate in public or private trade shows. Trade shows give a platform to companies to demonstrate new products and examine the ongoing trends in the industry. Trade shows and other event marketing, being a large investment to participate in, need to be tackled wisely. Here, we have jotted down few points with which you can attain huge return on investment by exhibiting at trade shows: -
- No Unidirectional Loom:
You must take multi-faceted approaches in pre-tradeshow marketing so as to ensure positive outcomes from the tradeshows.
- Give Invitations:
The companies who desire to surpass the competition are required to undertake marketing before the tradeshow starts. The pre-tradeshow marketing can be done through mails to make customers aware about the business, offerings and presence in tradeshow.
- List Your Audience:
In order to know more about the attendees, a brief conversation must be held with the tradeshow organizers. Consequently, make a list of your target audience and try to attend them during the show.
- Creativity Speaks In Volume:
Think of a distinctive and innovative approach or idea to promote the products or services offered by your company.
- Graphically Attract Them:
Make sure the graphics on your booth get the attention of trade show visitors. Create a catchy tagline that explains your audience what you do and place the same with your logo.
Whether your tradeshows are a wild success or a wipeout for your business depends entirely on your advance preparation. Get the best return on investment from the trade shows you exhibit at with these tips on trade show marketing. The above mentioned tips will certainly help you to turn the heads of visitors at your stall, and likely to make them interested in your offerings.