How to Track Competitors buyers using trade data.

What every business owner wants to know, quite simply, is this: Who is buying from my competitors and how can I get in front of those buyers as well? It might sound like a secret trick that only big companies know, but it’s not you can do this just as easily using trade data.

Trade data can appear complex at first, but once you grasp how to use it, becomes one of the most powerful ways to expand your business. It also helps you identify real buyers, align them with their buying habits and even see which companies your competition trusts. In This blog I am going to reveal how you can simply Track your competitor's buyer one by one and step by step.

Let us break it down.

Trade Data: What It Is and Why It Matters

Trade data refers to information about the goods that are going from one country to another. It is made up of the buyer's name, seller's name; the product they trade, quantity and price. Businesses often rely on this data to analyze the market, discover new buyers and check out what competitors are doing.

Trade data is like a public scoreboard. You can see who is trading with whom, what products are hot and which company is growing fast. When you read this scoreboard correctly, you can create a smart plan and target the right buyers at the right time.

This is where Siomex comes in very handy. Siomex is a reliable trade data source for clear and easy understandable information to companies.

The Siomex founders put the company together as entrepreneurs, and know how bewildering the map of global trade seems for small and mid-sized business. So they built a website that delivers clean data, clear filters and straightforward reports anyone can understand.

Why Is It Important to Keep an Eye on Your Competitors’ Buyers?

Following a competitor’s buyers doesn’t necessarily mean you have to copy them. It is known as to get to know the market better. It lets you answer questions such as:

Who is buying in my category
How much are they buying
Which customers have an affinity for a particular competitor
What types of demand and supply scenarios exist
Which countries are most active

Once you know these things, your decisions become stronger. You stop wondering and start knowing how to act.

Consider a simple case.

Imagine you sell cotton bags. You want to build your business in Europe. You wonder which European firms are even now purchasing cotton bags from India. Trade data provides you with the names of buyers, their purchasing history and can even tell you how frequently they buy. Now you have a perfect person to call.

This is the magic of following your competitors’ buyers.

How to Find and Follow Your Competitor’s Buyers Step by Step

Here’s a friendly, even lazy route.

Step 1. Choose the competitor you want to study.

Start with one main competitor. It may be a big name in your industry, or a company that consistently gets the buyers you want. Record the company name and what types of products they sell.

This helps you stay focused.

Step 2. Make use of a Trade Data Platform such as Siomex

Now that you know what the name of your competitor is, you need a tool to SHOW YOU who they sell to. Siomex provides straightforward services where you can search by exporter name, product or country.

Type your competitor’s name into Siomex, and immediately see below a list of their buyers. The platform displays:

Buyer company names
Countries they belong to
Product description
Frequency of buying
Approximate volume

This helps you to identify who is already a client of your competitor.

Step 3. Study the Buyer Behaviour

Not all buyers are equal. Some purchase on a regular basis, others just buy once. They like low prices; others, high quality.

Trade data helps make sense of these trends. Look for things like:

How often the buyer orders

Depending on the increase or decrease in order size

If they purchase from multiple providers or just your rival

Which product variation they like

This detail will help you to make a better offer when it comes time for you to contact the publisher.

Step 4. Compare Their Customers to Your Customers

Perhaps you already have a few customers. You compare them to your competitor’s buyers. Ask yourself:

Do we share the same markets

In what countries is my competition strong while I am weak?

Do I have hidden buyers

This comparison is how you see lost opportunities.

So, if there 10 buyers in Brazil of your competitors' solutions and you have not a single one, that means you have to consider Brazil. This discovery is easy to come across thanks to trade data.

Step 5. Create Your Buyer List With Data from competitors

Once you’ve reviewed who is buying from your competitors, now you can build your own list. This is now your list to market and sell against.

Include:

Buyer name
Country
Past order details
Product preference
Contact information
Notes

A well-thought-out list will help you approach buyers with confidence. You know what they purchase, how frequently they make purchases and what else the growing number of zombies out there might want to buy.

Step 6. Smart, Simple Pitches Reached Out to Them

When you reach out to a competitor’s buyer, be courteous and direct.” They’re already purchasing such products from somebody else. You goal is to demonstrate value, not pressure.

Use a message like:

Hi, I found your company when I was search in global market. I produce the same product you get your supplies from if you can please let me know what kind of quality I will be able to provide really good smooth service and nice prices. Please inform me if I can share samples or details.

This is a message that is a few simple, honest, confident it and go.

Never admit to the buyer that you identified their info from trade data. Just keep the product and service at the center of it.

How Siomex Makes It Easy for You to Monitor Your Competitors

Siomex enables this as a whole because their platform is for real people not just experts. The founders know how tough it is for companies to find buyers. They hoped to design a tool that everyone can use from day one.

Here’s why Siomex is different:

Easy to understand summary record of teatenders
Accurate buyer and seller information
Product, name, country and trend checking filters
Quick support for questions
Information that small and big companies can use

A lot of firm’s use Siomex because it saves time and spares them the guess work. Rather than spending hours online searching, you can get clean buyers lists within minutes.

Real World Example To Get a Feel of How This Works

Let us take a simple case.

Rohan sells handmade candles. He hears that one of his rivals ship candles to a company in Dubai. He visits Siomex and types in the competitor name. He discovers three buyers in Dubai who order candles regularly.

He studies their buying pattern. A buyer orders once every other month. Another purchaser orders in large volumes just twice a year.

Now Rohan understands exactly how the market operates. He comes up with his pitch and calls those buyers. Two of them reply. One of them asks for samples. This becomes a new business relationship.”

This occurred simply because Rohan made intelligent use of trade stats.

Common Mistakes to Avoid

A couple things to remember when identifying competitors:

Do not copy prices blindly. Understand your cost and value.
Do NOT contact buyers without having your work in advance. Study them first.
Do not chase every buyer. Focus on the best ones.
Don't expect every buyer to respond. Follow up politely.
Never forget the quality of your own service and product.
Smart tracking along with muscular execution equals results.

The Future of Business Is All About The Data Driven Decisions

Trading is a growing industry the world over. There are more options for buyers and sellers have it tougher. Which is why data is more important than ever.

You’re trading trade data as if you were a confident business owner. You know the market, you know your customers and you know your competitors. You quit being a guesser and start learning.

And platforms such as Siomex will continue to have a crucial place because they make this easy and useful.

Frequently Asked Questions

Why the Hel should I be following my competitors’ buyers

Because it helps you know who is buying similar products. This enables you to make better offers, and enter new markets.

Is it legal to use trade data

Trade data is yes public in most countries. That data is then gathered by platforms like Siomex, which presents it in a user-friendly format.

How does Siomex help me

Siomex delivers a paper trail of trading in plain language. Buyers, sellers, product details and patterns can be readily located.

When I get in touch do buyers reply?

When you send a simple, honest message many of them will respond. But remember to be brief and focused on value.

Can beginners use trade data

Yes, even novices are able to use it. The information is straightforward and services such as Siomex only make the set-up process smoother.