At the factory, whenever a customer complained about the high prices, I would confidently respond by emphasizing our commitment to quality. Later, after joining a trading company, I realized that pricing is often the decisive factor, particularly for larger clients. Quality is important, but price considerations often outweigh them, especially for major accounts. Never assume that because you can't afford to lower your price, neither can others. What might cost a penny in your factory could be half that elsewhere. Take the electronics industry in Dongguan, Guangdong, for instance—there are thousands of small and large manufacturers competing for clients. When a client threatens to move their order elsewhere due to pricing concerns, don't dismiss it as impossible.
If a client requests a factory inspection, see it as an opportunity rather than a burden. Only significant clients conduct such inspections before placing orders.
Avoid overselling past achievements to interested clients. When discussing prices, refrain from boasting about your biggest clients or comparing them to others. Such discussions can unintentionally discourage further engagement.
Always communicate openly with clients, even if you can't fulfill promises. Honesty is crucial—not just for the company but for personal integrity as well. If you fail to deliver, inform clients promptly instead of delaying their inquiries.
Quoting effectively requires skill. Some factories inflate quotes excessively, sometimes three to four times higher than competitors. While you may justify this by citing superior quality, clients aren't easily convinced. They’ll compare across suppliers and opt for better value.
Respond quickly to client messages, even with a brief acknowledgment. This demonstrates professionalism and respect. Procrastination can lead to missed opportunities, especially in industries like Alibaba or Global Sources where traffic is high.
Business acumen is vital. It's challenging to define precisely, but essentially, it means identifying what truly matters to a client during decision-making. I once lost a $5 million order due to oversight—something as simple as a follow-up call could have made all the difference.
Don't dismiss client requests outright. Instead, propose alternatives or negotiate. For example, if a client’s target price isn't feasible, assure them you'll advocate for a better deal.
When attending trade shows, arrive early to ensure your booth stands out. Exhibitors who wait until the last minute often lose momentum, leaving clients unimpressed. Presenting with enthusiasm and professionalism is key.
Sitting idly in the office waiting for leads won't yield results. Focus on targeting key clients rather than casting a broad net. For instance, if selling cheap gifts to the U.S. market, target retailers like Walmart, Dollar Tree, or Dollar General. For stationery, aim for Office Max or Office Depot. For home appliances, consider Circuit City, Radio Shack, or Staples.
Quotation accuracy is critical. Many clients use standardized formats to compare offers. If your business lacks attention to detail, clients may hesitate to place orders.
Foreign trade demands more than just document handling. Study domestic sales techniques to enhance your negotiation skills. My wife works at a global trading firm and has taught me invaluable lessons.
Payment terms are crucial in foreign trade. Control risks by choosing secure methods, such as working with China Export Credit Insurance. Though the process is complex, it ensures safety once approved.
Balancing relationships with superiors and clients is essential. Understand your boss’s limits without overstepping. Learn to read their mindset, especially during tough negotiations.
Service quality matters. Treat clients respectfully, even when dealing with repetitive tasks like samples. Arrogance or impatience can damage relationships.
Confidence is important, but arrogance can backfire. Avoid appearing aloof or dismissive, even if you're familiar with the product.
Psychological insights are useful but not foolproof. Base decisions on facts, not assumptions.
Maintain a detailed client database. Regular updates and personalized communications can leave a lasting impression.
Even seasoned professionals make mistakes. Acknowledge errors gracefully to preserve relationships.
Within companies, internal dynamics matter. Cultivate positive relationships with colleagues to gain support.
These lessons have shaped my approach to foreign trade, emphasizing adaptability, honesty, and professionalism.
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