Your company is matched with a perfect potential partner, but nothing happens after the meeting. Why? There might be different explanations, but understanding the intricacies of international B2B matchmaking is essential to deciphering this enigma. In today’s interconnected global economy, businesses often seek partnerships beyond borders to expand their reach, leverage expertise, and tap into new markets. However, the path to successful International B2B Matchmaking is fraught with challenges, particularly when navigating diverse cultural landscapes, building trust across distances, and aligning visions amidst market complexities
• Cultural differences: A company seller should do the homework and get prepared for the meetings: communication patterns, the way meetings are organized, etc. vary significantly from country to country. There are numerous visible and invisible differences. This is also critical to follow up after the meeting, express gratitude for the time spent, etc. Ghosting a buyer isn’t a good idea too.
• Lack of Trust: Trust is paramount in B2B relationships. A company might have a great product, but a seller must be able to put effort into being transparent and honest, demonstrate the ability to meet expectations, and (in some countries) also contribute a lot of personal time to relationship building.
• Lack of vision and commitment: If the company starts negotiations with the idea like “Let them buy from us” in mind, in most cases (especially if the product is promoted under a certain brand) this is not going to work. All markets in the world become more and more saturated. Potential local partners expect a vendor to be committed.
• Lack of market knowledge: This is critical to get prepared and understand local market reality, especially main competition, pricing structure, product distribution, and consumer behavior. This is not the sole problem of the local partner (see the “lack of commitment”). If you company can’t match the expectations, don’t step into this minefield.
• Unprofessionalism: It doesn’t make sense to cross the world or attend a famous trade fair and be late for the meeting, come empty-handed (no marketing materials, no samples, no business cards), forget potential partners’ names, address them incorrectly, or make inappropriate jokes.
Read more about B2B Matchmaking here: https://manatex.co/b2b-matchmaking-what-you-need-to-know/
