The US market is one of the most competitive in the world. If you want to grow your business in the USA, you need to make sure that you have an excellent product, and more importantly, know how to market it properly. eWorldTrade is one of the largest digital marketplaces that can help you find exciting products and growth opportunities, especially if you are in the US market.
eWorldTrade can make it easy for buyers and suppliers to connect on a digital platform. The company makes it easy for businesses from all over the world to find new opportunities in the world of dropshipping and rapid sales. Using the platform along with other strategies such as email marketing is a surefire way to quickly boost your business growth.
But, before you start using eWorldTrade, you should have a clear understanding of where your company is lacking. For that, you should start with a comprehensive PESTEL analysis.
What is a PESTEL Analysis?
It is a tool that will help us to discover the whole situation that surrounds us at the level: Political, Economic, Social, Technological, Ecological and Social.
Therefore, the first of the steps to take into account to undertake will be to have a global vision of all these factors. We will base our study in a global way and in this way, we can focus our commercial and marketing strategy taking into account all these factors. The idea of PESTEL analysis is that you can know which of these factors can affect your company today. The PESTEL is a starting point from it we can obtain useful information that will help us develop other strategies and tools such as the SWOT Analysis of your company (a matrix in which we seek to represent the weaknesses, strengths, opportunities and threats of our company).
Market research
The next thing we suggest you do is a Market Study in which you intend to develop your activity.
Some of the questions that can help you about the market:
Is it growing? Is it a young market? How much competition is there? How much money is moving in that market? and the total volume of sales? How much growth do new companies have throughout the year? And the leading companies?
Information is power, can you imagine everything you can achieve if you have all this data before undertaking? And the best of the questions: What do you think will happen to your project if all this is not taken into account?
Choose a market niche
The moment has come! Once we know all this environmental data and about our own company, we can start to think about what we want to do and in what way. The good thing is that we start from a solid base and data on which to support our project. Choose a market niche or a market, that will depend on the type of project you are carrying out and how big it is (with all that it implies).
Objective Positioning of your Brand
Now that we know what we are going to do and how the panorama is around your company or future company, we can think: Where do you want to be positioned in the consumer’s mind? Do these aspects coincide with the main strengths of your company? If the answer is YES, we are heading in the right direction, if not, maybe it is worth stopping to reflect on it.
If, on the other hand, you already have your project underway and you ask yourself: How can I grow my business? First of all, you must reflect on what situation my business is currently in and where do I want to go? In what way would I like my business to grow? Does everything work fine?
As a business owner, you need to keep a close eye on how your company is faring.
Finding Suppliers
You also need to find suppliers for your products. Here are a few tips to help:
Find distributors at a fair
The way of searching for products has varied and the sources for finding merchandise are multiplying.
A fair is one of the best places to wholesale merchandise for your store. Search online for a list of national and international fairs and point out which events interest you the most. The fairs are not open to the general public, they are a way to identify professionals, distributors make themselves known to promote products, and retailers or those interested in the sector visit the stands to take ideas, learn about brands and find out about new items.
In addition to visiting the fair on-site, the event organization usually prepares, either on its website or in the published catalog, a list of suppliers with their respective contact details. This is a quick and easy way to locate wholesalers and distributors.
Once you start your store, finding suppliers will be much easier, since they will come to you, instead of you going to them. Customers also play an important role when searching for suppliers as they will suggest the products they would like to find in the store.
Types of providers
Manufacturers: Some manufacturers sell their products at wholesale prices directly to retailers when the required quantities are high. If you want to sell a product from a specific manufacturer, please contact them to complete the agreement. If you do not work this way, the manufacturer will be able to direct you to the dealer in your area where you can buy the items.
Importers: Due to globalization, importing products is much easier than it used to be. Retailers can relatively easily buy foreign products through direct contacts in their own country. There are importers who not only sell to wholesalers but also to retailers, they are a mix of importer and distributor. On the web you can also find wholesalers in specialized guides and listings or on industry association portals.
You can check out eWorldTrade to connect with suppliers from all over the globe.
