BuyersBuyers

Trade Related Technical Assistance for SRE

Peter BennettTrade Development Consultant

Mexico: SRE Buyers 2

BuyersBuyers

Q. How difficult is it to make appointments with buyers?

A. Can be very difficult. Cf The Trade Mission problem!

Mexico: SRE Buyers 3

Buyer introductionsBuyer introductions

• Introductions to buyers – key service Exporter business missions Trade missions

• Must understand buyer characteristics

• Must understand the commercial issues

Mexico: SRE Buyers 4

Buyers / Purchasing professionalsBuyers / Purchasing professionals

• Well informed• Difficult to get access to – cf. large cos• Existing suppliers – must replace• Demonstrable advantage to product / service• Benefits / benefits / benefits• Marginal price difference – generally won’t

work• RFQ – benchmarking• IPR with impact on buyers business

Mexico: SRE Buyers 5

Large companies / OEMsLarge companies / OEMs

Interested in Intellectual property Technology Design Logistics Price

(Our trade mission problem. What were buyers interested in?)

Mexico: SRE Buyers 6

Engineering - Example 1Engineering - Example 1

• Two enginering companies Identical products Identical machinery Identical labour costs and raw materials

• What distinguishes them is: Design Technology Logistics

Mexico: SRE Buyers 7

Food – Example 2Food – Example 2

Two food companies Identical products Identical machinery Identical labour costs and raw materials

What distinguishes them is: Design / brands Technology Treacability / ISO Certification / Confidence Logistics

Mexico: SRE Buyers 8

A new supplierA new supplier

Buyer will change supplier1. When it is safe to do so

2. Minimum risk

Mexico: SRE Buyers 9

Vendor auditVendor audit

• New suppliers / Plant inspection• Quality control procedures• Financials• Raw material QC and storage• Tracability• Manufacturing standards• End product QC• Security – drawings and IPR

Mexico: SRE Buyers 10

Access to buyersAccess to buyers

• Senior buyers - very busy

• Many new vendors seeking attention

• Appointments – weeks in advance

• Renumeration based on success of merchandice

• Decision – concensus But only in some geographic areas

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Signs of seriousnessSigns of seriousness

• Speed of communication• Willingness to tell you about needs• As trust builds:

Divulge more information Identify preferences Buying intentions Buying Loyalty

• Process takes time

Mexico: SRE Buyers 12

Contacting buyers - 1Contacting buyers - 1

• Local language English / Spanish / French

• Phone – AM is best• Mobile – OK to talk / re-schedule call• Importance of buyer’s assistant or secretary• Tel conversations – short and cryptic

Must prepare Avoid – “No. I’m not interested”

Mexico: SRE Buyers 13

Contacting buyers - 2Contacting buyers - 2

• One of many new vendors• Majority trained in purchasing

techniques Ask direct questions – blunt Must pre-empt what these questions are Have prepared answers

• Arranged meeting Confirm by email – date, time and location Copy buyer’s secretary or assistant

Mexico: SRE Buyers 14

Contacting buyers - 3Contacting buyers - 3

• Gifts No

• Be on time• Scheduled call

Use Outlook to remind you. Call on time.

• Switch off your mobile phone / Not silent• Check format of meeting

Insert into Export’s mission document Large organisations

Mexico: SRE Buyers 15

Contacting buyers - 4Contacting buyers - 4

• Send an acknowledgement after meeting• Spell buyer’s name correctly!

Incorrect – reflection of quality

• Give buyer at least 2 names in your company• Alert your switch board• Correspondence

Acknowledge 24 hrs Full response later

Mexico: SRE Buyers 16

EmailsEmails

• Unsolicited emails – spam• Ask for permission

Senior buyers – dozens / hundreds of emails per day

• The subject line Do not use a commercial theme

• Use individual email addresses Info@mail_address.com

• Keep message short

Mexico: SRE Buyers 17

Getting the buyer’s attention - 1Getting the buyer’s attention - 1

• No commercial theme in subject line• 1st sentence

What the exporter does. One or two sentences Cos may be of no help. Co brochures!

• 2nd sentence - benefits List one or two

• 3rd sentence – references• 4th sentence – refer to exporter’s web site

If you are happy with site!

Mexico: SRE Buyers 18

Getting the buyer’s attention - 2Getting the buyer’s attention - 2

• 5th – State what you want Appointment To talk Show or send samples

• 6th – Suggestion for follow-up You will phone at……

• 7th – Who you are One sentence about TPO Do no insert a paragraph The buyer is not interested in the TPO

Mexico: SRE Buyers 19

Getting the buyer’s attention - 3Getting the buyer’s attention - 3

• Once dialogue established – send more elaborate info

• Exporter’s web site – broachures / PDFs

Provided you are happy with quality

Mexico: SRE Buyers 20

E-mail attachmentsE-mail attachments

• The buyer should expect the attachment

• No unsolicited attachments

• Dated, contact, address, tel no, e-mail

• File format

• Attachment size