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4 Techniques to Expand Commercial Businesses at a Time of Economic Uncertainty

The economy is changing. Consumer behaviors are changing. Whether due to Covid-19 or other causes, businesses worldwide are being impacted to one extent or another. Today, Thaitrade.com, the top B2B e-commerce platform in Thailand will recommend some techniques for expanding business to adapt and survive at a time of economic uncertainty and sustained economic downturn. These are the techniques we would like to recommend:

1. Adapt by marketing on a variety of online platforms.

Certainly, many businesses (or practically every business) have already transitioned in favor of online platform marketing. However, what these businesses lack could be their failure to market on a wide variety of online platforms to improve target group reach and reduce risk from one particular platform’s inability to continue meeting consumer needs.

Each business has to use the strong points of each platform and target group behaviors and combine them with its own business operation to identify new opportunities for achieving stronger and more commercially secure business growth. Businesses can also reach out to international customers by marketing on platforms used by large numbers of people from particular countries.

2. Expand marketing by importing eye-catching products to meet one’s own business needs.

At a time of changing consumer behaviors, it is essential to expand marketing. Businesses that want to successfully reach new customers to strengthen their commercial base can search for new products that meet and match their consumer and target group needs by importing products from abroad. This is particularly true for the case of businesses working in the food, ingredient and beverage sectors. Therefore, we recommend that businesses import products from countries that are distinguished in terms of high product quality and export potential.

Furthermore, if your business still does not know what products or from where products should be imported, feel free to contact us for additional news and information about eye-catching products to import from Thailand at https://www.thaitrade.com/home. This is because it is the B2B e-commerce platform that allows everyone to choose products and engage in business negotiations without borders.

3. Reach new target groups, especially Generation Z.

For any business that is engaged in traditional marketing methods to reach their existing target groups, we recommend you seek new channels to reach customers, especially Generation Z customers, since customers in this generation will continue to grow and remain alongside your business for a long time to come. Moreover, these consumers have a high average value of online purchases and, importantly, they tend to make their purchase decisions quickly if businesses can market accurately according to their interests.

Nevertheless, businesses also have to maintain their existing customer base by planning strategies to engage in CRM (customer relationship management system) while simultaneously and continuously searching for new target groups.

4. Search for trade partners to support strong business growth.

The final technique to recommend is to expand trade opportunities by searching for foreign business partners through holding trade negotiations and establishing partnerships to jointly promote continuous business growth, because business trade partners can help your business reach its goals more rapidly.

And importantly, if your trade partner is an international operator, your own business will reap many benefits and be able to effectively achieve growth in the global market. This is because, in addition to making product import and export easy and convenient, this also supports business in expanding its commercial world and discovering new business perspectives without only operating in its own country. Rather, it gives your business the opportunity to gain a borderless trade experience.

Search for strong trade partners in Thailand, discover best-quality products and monitor news to participate in online business matching opportunities organized by the DITP at https://www.thaitrade.com/home.