Top 10 Tips for Safely Connecting with Verified Buyers and Sellers Through GTP

Establishing your business in a new marketplace is exciting, bringing in a new multitude of opportunities for growth but it also comes with its challenges. Connecting with buyers and sellers is hard but connecting with reliable buyers and sellers is harder. As a small scale or medium scale business, it becomes increasingly competitive to find one's footing in the B2B marketplace. Using the platform provided by Global Trade Plaza is one of the ways to ensure one enters the foreign waters of trade with a reliable customer base and establishes its social presence strongly. 

Top 10 Tips To Successfully Connect With Verified Buyers And Sellers 

The top 10 tips for successfully creating a B2B marketplace for secure trades are as follows:

1. Conducting Market Research 

The basis of a secure marketplace that also meets the needs of the real market is a survey of the market. Whether it is a generalist or specialised marketplace, targeting the marketplace that offers the most opportunities is essential and can only be done through thorough market research. 

Once the market is targeted defining the business model like commission on sales, subscriptions, listing fees, and drawing up a precise business plan is important. The business plan entails the following sections:

• The cost of launching the business

• The fixed cost to be incurred in the operations

• The variable costs will be incurred

• The parallel resources will allow a company to meet various expenses.

 

2. Surrounding with the Right Players

Creating a reliable marketplace requires the involvement of multiple B2B  players in developing the platform and operation after it. The software developers, collaborators, financial partners, vendors, etc. make up a business and ensure its future. Having the right players for your business is essential for ensuring its sustainability and growth. 

3. Having a Flawless Legal Framework

A flawless legal framework with the terms and conditions laid out is the requirement of the B2B marketplace. The label, patent, financial transactions, VAT, RGPD for personal data protection, etc. are some of the legal parts of trade that need to be up to date with the law of the region one intends to trade in. 

To ensure all the legal sections are covered before embarking on trade contacting lawyers, jurists, chartered accountants, auditors, and several other specialised professionals of the state is recommended. 

4. Use Social Media Platforms

Using social media platforms like X, Instagram, and Facebook is a cost-effective way of connecting with the global trade sector. Ensuring secure trade through these platforms is possible as it connects potential buyers and sellers and allows them to have a preview of the products and services they provide. 

Large-scale businesses have started spending a fortune on social media advertising since it has proven to increase the exposure received by a company.

5. Working with Trade Agents

A trading agent ensures one can connect with reliable players in the market since they are experienced in the same. They can perform market research, logistics, and reliability for the business also ensuring legal compliance. Helping companies gather valuable support throughout the export process, a trading agent can help sustain a business in foreign lands while mitigating the risks expertly. 

6. Leveraging Existing Networks

The existing network of a business is a great way of finding reliable buyers and sellers since the factor of trust is transferred to the new parties introduced. It is a simple and cost-effective way of generating leads and closing deals.

7. Participating in Government Programmes

Participating in government programs held in many states is a way to ensure funding, training, and support for the business to find a secure ground to expand upon in international trade. 

8. Using Global Trade Plaza

Expanding a business is easier when backed by a supporting platform that is credible. Global Trade Plaza ensures a business gets the most secure buyers and sellers to grow in the international trade sector without any hassles or fears. It aims to lessen the risks accompanied by expanding a business as much as possible.

9. Attending Trade Exhibitions and Shows

Attending trade exhibitions and shows is a great way to find potential and reliable buyers and sellers face-to-face and showcase the products and services provided. The opportunity to network with credible names from the sector is immense at trade shows and exhibitions.

10. Credit Insurance

As a guarantee for the seller against the risk of unpaid invoices from the customer credit insurance saves the seller. It is a significant cost to incur which the operator can deduct from the commissions one gets back but it provides durability for the business and is worth it. 

Ways of Influencing Buyers and Sellers to Connect with Your Business

There are many influential factors that help a buyer and seller connect faster now or in the future to satisfy their need for a product or a service. Some of the factors that a business can directly control to connect with buyers and sellers are as follows:

 

• Making a value based offer and a reason to connect

• Updating all social media platforms to ensure credibility

• Sending relevant information to target buyers

• Posting valuable content on industry-associated forums

• Making the other feel a real connection