1. Old Customer Referral: A Trust-Based Customer Acquisition Channel

In the landscape of import and export operations, global import and export trade data and old customer referrals emerge as two prominent paths for enterprises aiming to acquire new clients, each carrying distinct value in driving business growth within the import and export sector. Old customer referral refers to the offline customer acquisition method in which a company recommends its products and services to individuals or companies with potential needs through existing cooperative old customers, in order to acquire new customers.

Its essence is based on trust in word-of-mouth communication and resource fission: old customers form a trust foundation due to their recognition of the product/service, and this trust will naturally be passed on to the referrer, reducing the decision-making threshold for new customers; At the same time, the social circles of old customers (such as industry partners, family and friends, colleagues) often have similar needs, and achieving precise demand matching through "acquaintance endorsement" .

As a low-cost and high conversion channel for expanding customers, the value of introducing old customers is reflected in multiple aspects:

Reduce customer acquisition costs and improve conversion efficiency

Compared to channels such as advertising placement and exhibition participation, the cost of introducing old customers is lower, and new customers have a higher initial trust in the brand, resulting in a shorter decision-making cycle.

Accurately match requirements and reduce ineffective communication

Old customers have a better understanding of their social circle needs, and when recommending, they will naturally screen out potential customers who match the product/service.

Strengthen customer stickiness and consolidate trust relationships

The process of active recommendation by old customers is essentially a secondary recognition of the brand, and this "sense of participation" will deepen their sense of belonging to the brand; By rewarding or responding with gratitude, enterprises can further enhance the satisfaction of old customers, forming a positive cycle of "recommendation being valued being more loyal".

Convey authentic word-of-mouth and shape brand credibility

'Recommendations from people around us' are considered a more authentic reference, and spontaneous sharing from old customers can create a word-of-mouth effect, especially in the early stages of niche brands or emerging enterprises, which can quickly accumulate brand awareness and be more persuasive than official promotion.

Limitations of Old Customer Referral

However, old customer referral also has certain limitations. Firstly, the expansion scope of customer resources is limited. The network and industry resources of old customers are fixed, and the number and types of new customers that can be introduced are relatively single, which is difficult to meet the needs of enterprises to expand the market on a large scale. Secondly, the initiative and timeliness of referral are poor. Whether old customers are willing to introduce new customers and when to introduce them depend largely on their own wishes and timing, and enterprises are difficult to take the initiative to control and plan. In addition, some old customers may be reluctant to actively recommend new customers due to concerns about competition or other reasons, resulting in the waste of potential resources.

2.  Global Trade Data: A Help for Breaking Through Limitations in Customer Acquisition

Global trade data can effectively break through the limitations of old customer referral and provide enterprises with a broader space for customer acquisition. It details the import and export trade information of enterprises in various countries, including the name of purchasers, purchased products, purchase volume, cooperative suppliers and transaction time. Through in-depth analysis of these data, enterprises can tap a large number of potential target customers, not limited by the network of old customers.

Unique Value of Global Trade Data

The unique value of global trade data is reflected in many aspects. Firstly, it can help enterprises accurately locate target customers. By screening data of specific products, regions, purchase volumes and other dimensions, enterprises can quickly find customers with high matching degree with their own products and actual purchase needs. Secondly, it can help enterprises understand market dynamics and customer needs. By analyzing customers' purchase records and trends, enterprises can grasp the changes in market supply and demand and adjust product strategies and marketing strategies in a timely manner. Thirdly, it can provide data support for enterprises to explore new markets. Enterprises can use global trade data to understand the market demand and competitive pattern in different regions and formulate targeted market expansion plans.

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Through import export data, enterprises can analyze the import and export activities of various countries around the world and grasp global market changes. Taking the canned fruit(HS code: 08109090) as an example, through Tendata, companies can easily obtain the import and export records of electronic watches in 2024, including supplier’s names, transaction amounts, product quantities, import frequencies, etc.

Tendata updates its data in real-time, providing the latest international trade trends. Enterprises can obtain the latest market information at any time to maintain competitiveness.