Has Customs Data Extended Values? I Bet You Didn't Know that

tendata blogTrade Data Provider

ten data blog02-08-2023

Getting your hands on customer contact information but not knowing where to start? Just sending out emails without getting any response? Relying solely on customs data for customer development and losing potential clients? Let's face it, you might not be using customs data effectively. Customs data goes beyond just finding international trade clients; it offers many other powerful applications. Today, Tendata will share the additional value that customs data brings, hoping to gradually demonstrate the significance of utilizing these data combinations in Tendata's future data services.


I. Why Use Customs Data?

1.Understand who your competitors are selling products to and how much they export.

2.The buyers we provide, if they aren't doing business with you, are probably doing business with your competitors.

3.Check if your buyers have orders with other companies besides you.

4.Even though your customer base might be stable, your competitors' customers may be at risk of shifting, and buyers may want to establish business relationships with suppliers like you.

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custom data,customs data,import customs data,export customs data

II. Six Problems Solved by Using Customs Data

1.Identify the most critical, urgent, and main export markets overseas (e.g., the United States, Europe, etc.).

2.Determine where your main competitors are primarily located.

3.Evaluate current export volumes (production value/sales revenue).

4.Review past methods of finding new customers (e.g., trade shows, e-commerce).

5.Explore how competitors are being monitored (have surveillance methods been implemented?).

6.Investigate whether the company has applied similar intelligence in the past.

III. The Role of Customs Data for North American Clients

1.Maintaining a Competitive Edge

(1)Know when your competitors start selling to your North American clients.

(2)Identify new competitors entering your North American market.

(3)Evaluate your company's position in the market.

2.Discovering New Suppliers

(1)Identify manufacturers worldwide that can supply products similar to yours.

(2)Track their sales and customer lists in North America to find new sources.

3.Finding New Sales Targets in North America

(1)Discover potential buyers importing products similar to those you sell.

(2)Examine their current suppliers and purchase quantities to pinpoint potential targets and position your offers accordingly.

4.Keeping an Eye on Your Clients

(1)Monitor your North American clients' purchasing activities.

(2)Find out how much they buy and from whom.

(3)Improve your bargaining position when negotiating contracts.

IV. Tracking Customer Class with Customs Data

1.Changes in Customer Business

Good business relies on strong customer support. If your main clients undergo business changes, such as adding new suppliers (adding how many new suppliers) or changing their scope of operations (e.g., shifting from beach buggies to garden tools), you should be aware.

2.Increased Customer Demand but Stable Purchases

If your customers' demand increases by 30%, but they continue to purchase the same quantity of goods from you, this may not meet your expectations.

3.Understanding Your Clients' Global Suppliers for Negotiating

Do you have insights into your existing customers' suppliers globally? This will directly influence your bargaining position when negotiating contracts.

4.Identifying Competitors Competing for the Same Buyers

Don't expect buyers to choose only you as a supplier, as there are undoubtedly many competitors vying for buyers, especially those competing for the same buyers as you. Who are they? Where are they located? What products do they offer to your old customers? How much have they exported? When did they export? This transaction information is crucial for you; do you know it?

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V. Tracking Competitors with Customs Data

1.Established companies in the industry generally pay more attention to their competitors' situations in the market. For example, newly emerging competitors, bankruptcies, and those vying for the same buyers.

2.Assessing Competitiveness with Similar Products

3.If you sell beach buggies similar to those of ** boss's ** company, and they perform well in the North American market, who do you think has a better competitive edge if negotiating with the same buyer simultaneously?

4.Exploring Middlemen Exporters

Many beach buggy exporters from Taiwan or Hong Kong are intermediaries without their processing plants. Instead, they rely on accumulated buyer resources to engage in export businesses. For companies starting to export, such exporters can be an excellent entry point into the North American market.

VI. Market Information with Customs Data

1.Background information, such as which buyer currently sources from whom, their main product categories, and typical purchase quantities, can be crucial when finding customers or when customers approach you for discussions.

2.Have you heard that North American customs can collect authentic import data of buyers?

3.For example, in the last quarter, only a few companies exported beach buggies to North America, such as ** and **. But from the first quarter of this year, the export companies have expanded rapidly, with ** being one of them. This should serve as a timely market signal for you.

4.Do you have any new product plans to enter the North American market? If the North American demand for that product is small, would you still consider entering the market? If the demand is significant, and there are many buyers, do you know which buyers are more likely to purchase from you? Do you currently have comprehensive insights into this market situation?

About Tendata

Promoting the good development of the foreign trade industry is the long-cherished wish of Tendata, which, based on Big Data + Artificial Intelligence, focuses on data collection, mining, application and services in the field of international trade, and at the same time extends its services with industry consulting and trade facilitation, and devotes itself to exploring the overseas market for enterprises, developing foreign trade customers and enhancing the competitive advantages in foreign trade.

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