Importance of import-export training for trading agents

A trading agent plays a quintessential role in the field of the import-export business, as he has adequate product knowledge of this industry. Apart from product knowledge, a successful trading agent must have good negotiation and presentation skills, knowledge about international payment methods, international trading laws, and much more. To learn all these skills and make a scintillating career in this field, you should join the best import-export course online from a reputed institute.

Here, we are mentioning some useful tips that you should keep in mind to become a successful import-export trading agent.

Find a product you want to present

To become an established trading agent, first, you need to decide what you want to sell. Then, find an international supplier/manufacturer or a source of products. Generally, you can try two sourcing methods.

First, you can contact the commercial department of a country’s embassy in your country (For example, the United States embassy in your country) and then request them for the list of manufacturers and suppliers of the product you want to source from.

Another one is you can contact the overseas trade fairs and ask for the list of companies that have participated in a trade fair. Then, you can get in touch with the manufacturers mentioned in the list and start making a relationship with them by adding to your network.

100% product knowledge

Good product knowledge is very much required to become a trading agent. Product knowledge comprises the manufacturing details, the cost of production, wholesale and retail price, profit margins, etc. Sometimes, you may not know the answer to the question asked for a product you pitched on behalf of your client. Try to give an answer like “let me get back to you on this asap”. By attending webinars, watching product videos, etc., you can enhance your product knowledge.

Do thorough research on your competitors

To become a trading agent, you should have a proper knowledge of the market. You can become an expert or leader of that specific niche if you have proper market knowledge. By making calculations, you can also decide what would be the profit margin for getting into the niche. This can only be achieved if you are well-informed about the market. You should do thorough research on the following points.

•       Who are the contenders for your niche?
•       Who is importing and wholesaling the product?
•       What’s the price of the wholesale and retail products?
•       Is your pitch better compared to your competitors?
•       What is the USP of your products that your competitors don’t have?

Safety regulations

As a trading agent, you should be aware of all safety regulations. If you overlook this, it becomes pricey for you or your client. The product must be well-matched with all the health and safety regulations in the country you are selling. If it doesn’t obey all the safety regulations, it will add cost and will become a hindrance for you or the client.

Marketing territory

You should decide what territory you want to represent. It solely depends on you and your goals if you want to become an international import-export trading agent.

Circumvention clause

As a legal trading agent, you need to ensure that you have incorporated the circumvention clause into the contract. In future, no buyer or seller can exclude you from sales as the commission agent.

Asking for samples

Ask your suppliers to provide samples so that you can promote or give a demo of the product while pitching in various meetings. You can easily sell a product if it can be shown with a demo.

Promotional material

If you carry product images or videos, then this can make a professional impact on a supplier in the meetings. But all videos and images are clear, professional, and properly represent the brand you are associated with. If you are carrying a product brochure on behalf of your client, then show it to the potential clients after or in a meeting for more clarification regarding cost, margin, and prices.

Commission rate

What would be your commission rate? This is what you are expecting against all your effort. So, you should have adequate knowledge of import-export and what profit margin you can earn from this trading agent profession.

If you think you need support to become a professional and successful trading agent, join the best import-export course online from a renowned institute.

Digitalexim is a prodigious institute that offers a compressive import-export course online. The institute has experienced and deft faculty members who will boost up your career and will help you to become a successful trading agent.

Don’t waste your time, just enrol in the best import-export courses online from Digitalexim.