Tendata: For Chinese foreign trade enterprises, it has not been a smooth year or so. The overall demand for overseas orders has been weak. First, suppliers were unable to start work and supply when the epidemic broke out in China, and then they faced the problem of weak overall trade demand due to the outbreak of the epidemic overseas after the start of work. Not only that, the offline exhibitions and foreign customer visits familiar to foreign trade people are also difficult to implement because of the epidemic. In this situation, change became the thinking of this Chinese enterprise (Wuxi Mi Feng International Trade Co., Ltd.), and going online became the best choice for Mi Feng in front of it. We also hope that other foreign trade enterprises will open the journey of online jianghu, like Mi Feng, to find another route to the sea.
Data Analysis Helps to Take down Customers
MiFeng is considered to be one of the earlier batch of companies that laid out online. In 2018, MiFeng finally chose to cooperate with Tendata after considering multiple aspects such as cost, effect and function. When it first started to use the Tendata platform, MiFeng was mostly used for data analysis, for a certain segmentation and segmentation of customers. In this process, Tendata has brought us a lot of convenience in doing business. said Guo, CEO of MiFeng.
In 2019, MiFeng had the honor to contact a big customer in Vietnam who was ranked Top 2 in the target market for condiments, and there were several suppliers competing for this customer, and the competition was fierce. Mifeng. And through Tendata data analysis, they provided some value-added services and became a stable customer with long-term cooperation, which laid a good foundation for MiFone to develop the market.
The words "fierce competition in the industry" actually contain several layers of implied meaning.
First, the background information of the customer is not fully grasped, can not prescribe the right medicine, resulting in difficulty to impress customers and get orders; Second, the competitors do not know enough in-depth, do not know what kind of services others can provide to customers, it is difficult to show their competitive advantage, but also easy to be rivals to exploit the loopholes; Finally, how to have been taken by others to dig up the big customers again, is also one of the difficulties to expand one of the difficulties of expanding market share.
In the end, in the market environment of low industry threshold and serious homogenization of products, the lack of information is one of the fundamental reasons that make it difficult for enterprises to survive in the fierce competition. And Shanghai Tendata accumulated 18 years of 10 billion + trade data, is born to solve this pain point.
The trade data in Tendata system is a great treasure to understand the target customers. Guo said, Tendata contains market product procurement habits, procurement heat, procurement data volume, preferences, but also accurate analysis of product weight, model, price, heat, etc., can serve buyers at the right time, positioning products, efficient to do sales, reduce unnecessary sales costs and risks; this is the most direct and effective way to understand competitors.
Knowing oneself and one's enemy is the only way to avoid a hundred battles, which is the soul of China's ancient and modern military. As Guo finally lamented, a customer's true needs, only through simple communication is easy to miss the details, the most practical situation, is to consult their past purchase records.
The epidemic: online customer expansion helped me multiply my performance
In 2020, the epidemic suddenly hit, for a company with more product categories, although Mifeng's overseas business covers many national markets, as most of the overseas customers have not yet resumed work and many large projects are suspended, the demand for their products will be weakened considerably in a period of time.
As a leading company in the industry, the way of perfecting multiple market layouts and striking out online makes Mifeng look more relaxed during the epidemic. In MiFone CEO Guo's opinion, although the development of the epidemic varies from market to market, there is always a market with business demand.
In addition, MiFeng saw the users' changes in demand trends and supply chain through Tendata's data research. Guided by the data, Mifung found the products and buyers with rising procurement demand. In addition, in the process of analyzing the various overseas markets that are important to Mifeng, Tendata's data allowed Mifeng to understand the information on the resource investment needed to reach a high level in the industry, so that Mifeng can allocate resources more rationally and make changes.
The quality of inquiries used to be the biggest problem for MiFeng. The business team often felt that the quality of the B-side was not accurate enough. The customers found through Tendata platform can analyze the potential buyer's strengths and weaknesses, understand his purchasing trend, purchasing quantity, and supplier situation, and screen the most suitable customers, which has greatly improved MiFeng Group's customer accuracy and transaction rate.
Strategy: Winning online marketing battles in line with the times
International trade is always in a state of flux.
This sensitivity is projected to the situation of Chinese foreign trade enterprises going abroad, which makes the construction of business relationships more difficult from multiple perspectives. Customer acquisition methods, sales channels, prejudice against Chinese brands and defects in the construction of the brand itself can make this road to the sea become a twist and turn. Chinese foreign trade people have learned to adapt quickly to the ups and downs. The brand story is not well told to break the reinvention, offline can not be beaten to go online.
That said, but for foreign trade enterprises, in the process of going abroad to truly embrace the online jungle is a long process. In the case of Mifeng, even if the layout of big data active marketing model has been started as early as the beginning of 2018, this company really embraces online only three years. The urgency of the transformation brought about by the epidemic, the online digital marketing model is a brand new field for Chinese foreign trade people who are used to the offline model.
In Guo's opinion, it is inevitable that companies just go to the international market, embrace business online and keep trying. The last reserved Tendata big data active marketing platform must be the one that can help enterprises focus continuously after spending the confusion period. This platform should be able to efficiently provide enterprises with the information analysis of customers, peers and markets they need, bringing high-quality business opportunities to conversion, while taking up part of the function of exploring potential opportunities.
He admits that Mifeng was very apprehensive when it first went to the international market. However, the cooperation and friction with Tendata has brought a sense of peace of mind to MiFeng's journey to the sea. As the main entrance for overseas companies to understand potential buyers and get information and user profiles of international markets, Tendata is one of the platforms MiFone started to cooperate with in the early exploration stage, and it is also one of the better retained ones. It is a platform that we hope to continue to leverage in the future as we continue to optimize our strategies and ideas, said Guo.
In the roller-coaster foreign trade market of 2020, huge opportunities and twists of fate have come from the online jungle into the business routine of Chinese foreign trade people, and this jungle is likely to become a blue ocean in the post-epidemic era. Who can be the first to stand out online, who can seize the first opportunity.
Finally, Mr. Guo would like to say to some foreign trade counterparts in the current epidemic, we can not go directly to foreign countries to participate in exhibitions, to visit customers, then some online promotion methods, online customer acquisition channels, for our foreign trade industry is particularly important, if you seize this opportunity, it may also be an opportunity for us to reshuffle.
Online is not something that can be done overnight. On the one hand, enterprises must have the will to change, on the other hand, the process of change is required to provide and create some prerequisites. In the post-epidemic era, foreign trade enterprises need to cooperate with platforms like Tendata to find new business opportunities while breaking geographical restrictions and reaching a broader market.
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