4 tips to keep in mind when sourcing from online B2B
Sourcing has largely been looked at a cost saving opportunity. With online marketplaces dotting the horizon of the internet realm, buyers are better equipped to deal directly with manufacturers worldwide. Buyers though keen to explore the myriad options available are held back by the fear of inherent risk that comes with the territory of every online transaction. Most buyers also don’t know where to and how to begin.
Here’s what to keep in mind when sourcing from online marketplaces:
Don’t narrow the playing field – Buyers toying with the idea of sourcing through online marketplaces randomly search for global suppliers. These random searches could churn out desired results. Credibility however remains the million dollar question. Which is why, we recommend using a reputed online marketplace that truly offers a wide range of choice, products or suppliers.
Negotiate a fair deal – Business deals are scarce win-win situations. As a buyer your focus is on making sure that you are getting good value for your money. Especially since the products being sourced will be resold. Online marketplaces makes it incredibly easy to find an exporter who meets your needs. Online marketplaces also enable you to communicate, negotiate and close deals faster in one place.
Keep fraudsters at bay – Working on a business deal with an exporter thousands of miles away can be intimidating. You are constantly worried about the quality of products that you are sourcing. Exporters most often demand partial payment. For a small order, full payment is mandatory. So how do you ensure that your investment is secure? Online marketplaces undertake checks to weed out exporters who are exposed as fraudulent. Several online marketplaces make it obligatory for exporters to send in documents released by the respective export committees/associations. Buyers could also opt to get into business deals with only verified suppliers.
Overcome language barriers – Online marketplaces are open to exporters from any part of the world. There does not exist a geographical barrier. The language barrier is hence bound to exist. While there exists a misconception that communicating with exporters from non-English speaking countries is very difficult, the occasions may be few and far from the truth. To avoid complications communicate in plain, simple English.