WEBINAR – Exploring DealMakr and its benefits

WEBINAR – Exploring DealMakr and its benefits

Last month, go4WorldBusiness.com conducted its second webinar featuring the Guest Speaker, Ms. Bindu Rajwar who talked about one of the most exciting features of the website, the DealMakr. Attended by hundreds of members and followers from around the world, the webinar was a success, explaining everyone the process and benefits of the premium service.

Aside from talking about the process flow, challenges and high success rate DealMakr service boasts, Ms. Rajwar also answered many questions posed by the panelists and attendees. Some of the unanswered questions were later taken up by Ms. Rajwar and are answered below –

Commonly asked questions and their answers during the Webinar

1) If I lose a deal, can I get the update? 

Yes, we will keep you updated about the deal’s progress from time to time. So if the buyer goes ahead with another supplier for that particular deal, we will surely inform you about the same.

2) Can we display our products on dealmaker and also on go4WorldBusiness apps? –

At the moment we do not have any option to display your products on the Dealmakr page. Only a buyer can post his buy requirement. However, as a gold member you can add a number of products to your profile page along with pictures which will be shown on the website. Additionally, as a Gold member, you can also have a banner image of your company designed by our staff which increases your visibility on our website.

3) Is DealMakr free for gold membership?

Yes, Dealmakr service is free for all gold members.

4) I have one month gold membership but not any deal and one month receive enquiry.

Thanks for choosing our Gold membership for your business. Cracking a deal as a Gold member depends on various factors. While commodities and products you choose to deal in and their subsequent demand in the market play a major role in the conversion of a lead you receive on the website, several other factors, including meeting the target price, specification requirements and communication with buyer lead to a successful deal. For the latter, we are happy to provide our assistance, via DealMakr and with the help of our support staff and your Relationship Manager.

5) How we do trust on suppliers or buyers while dealing with them in terms of payment 100% TT?

We try our best to filter out suspect profiles, scammers and troublemakers through our profile verification services. However, this should not be the basis of your decision to do business with someone you meet on our platform. We advise all our users to carry out detailed and complete background checks on any and every user they meet online by utilizing embassy resources and third-party verification agencies such as DnB before dealing with them.

6) Hello ma’am it has been one and a half month since I am a gold member but I have not got any client or order. I am worried about that please tell me the possible reason of not getting any order yet.

Thanks for choosing our Gold membership for your business. Cracking a deal as a Gold member depends on various factors. While commodities and products you choose to deal in and their subsequent demand in the market play a major role in the conversion of a lead you receive on the website, several other factors, including meeting the target price, specification requirements and communication with buyer lead to a successful deal. For the latter, we are happy to provide our assistance, via DealMakr and with the help of our support staff and your Relationship Manager.

There is no need to worry as deal conversions take time and understanding of what the buyer wants. Try to connect with as many buyers as possible and share product samples with them if possible. We’re sure you will be able to convert leads into a successful deal very soon.

7) What are the common challenges people face during a deal?- Annoymous

That’s a great question. Let me take up some of the most common challenges we encounter while helping buyers and suppliers crack a deal –

Language Barrier – One of the most common challenges one faces in international business is the language barrier. People find it difficult to communicate with the foreign buyers, so here we help them to reduce this gap and communicate with the buyer on their behalf in a professional manner.

Competition from other countries – The price offered from some countries is always lower than the others. Hence this creates a tough competition in the market to get the deal. Getting a better price is always a challenge. To solve this, we always advise our members to work with direct factories or manufacturers and get good rates from them.

Scammers – A lot of businesses get scammed as they fall for fraudulent prices and end up losing money. The real challenge is to identify right people and work with them. It is advised to verify the credentials of the company before working with them. We highly recommend that you use your registered email address or company domain email to correspond with the buyers and suppliers you connect with. Conducting a personal round of verification is advisable to eliminate any possibilities of dealing with frauds.

8) What kind of buyers/sellers is Dealmakr best suited for?  

In Dealmakr, we look for mostly end buyers and end suppliers so that the deal can be closed faster. However, we are also open to work with traders and brokers if they are able to offer good product prices and specifications which are needed by the buyer.  We try to get LOI’s (Letter of Intent) and SCO’s (Soft Corportate Offer) from both the parties to judge the seriousness and genuineness of the deal.

9) What are the minimum requirements to participate in the DealMakr program?  

In order to participate in any deal, you must be a Gold member of our website. Before we connect you with the buyer, you need to complete the verification of your company, which is a prerequisite for participation in deals.

We need the below-mentioned documents:

1. Company Registration/Incorporation Certificate.

2. Any ID proof such as Passport copy/Driving license.

3. Any previous Bill of Lading showing your company name.

Once the verification is complete, we send your quotation to the buyer. Also, you need to share complete specifications of the product along with the price and images.

10)  As a gold member on the portal, how is dealmaker different from relationship manager? 

A relationship manager is assigned to your profile, once you become a gold member of our website. If you have any issues related to your profile such as updating your profile, uploading products, issues with not receiving buy leads of your product etc., you can contact your Relationship Manager. They will help you out in resolving those issues. In fact, an RM is a single point of contact in the company.

A Deal Manager comes into picture only once you join any deal through the Dealmakr page. Once you join the deal, he/she will help you in connecting with the buyer after all the necessary verification is complete. So, Dealmakr team will be in touch with you only if there is any active deal you are working on, for any other issues you need to discuss with your Relationship Manager.

11) Is it possible to distinguish between manufacturer and agent?

There are several aspects that can help you distinguish between a manufacturer and an agent. Apart from conducting a general round of verification through third party, you can also ask the manufacturer to set up a video call from the factory of establishment he claims to be part of. You can also request the company registration certificate in order to ascertain more about the manufacturer. More often than not, the agents are quick to inform you about their profile beforehand. Finally, most companies seek the services of a manufacturer to have something custom-made, for example, packaging or a specially sized part, or some custom design work. This type of work is where manufacturers excel because they tend to focus on the creation of something rather than the sale of a product.   

12) If 3 members join the deal, how many will win the deal in the end and on what basis?

No matter how many members join the deal posted under DealMakr, only one member will eventually get the order in the end. There are multiple factors that are responsible in a successful conversion of a deal. From target price to meeting the specifications required by the buyer, a supplier needs to ensure that they benefit from the effective communication provided via the DealMakr platform to convince the buyer of the best price, highest product quality and efficient shipping and delivery to be able to close the deal.

13)  Will the supplier be able to know about all the other deals of any particular buyer?

That’s a very good question. Once a buyer posts a deal, multiple suppliers join the same and are being assisted by the assigned DealMakr to ensure their quotation is shared with the buyer. However, the quotation of one supplier is not shared with another supplier involved in the same deal. Respecting the privacy and confidentiality of the supplier information, we only share the details with the buyer and then it is up to the buyer to make the decision, based on the price, specifications etc. If a buyer is involved in multiple deals, it is only possible to find details of the deals he has posted on the website that a particular supplier is a part of. So in simple words, if a buyer is working on multiple deals, you only get to know about them when you join them and at a time, a member is only allowed to be part of 3 deals.

14)  As a seller of a particular product, how many deals can I join of that specific product?

You can join any 3 deals of your choice, irrespective of their category.

15) Please tell me that why in deal sheet it’s showing previous year deal for last 5 months deal?

At the moment we do not have any filter to show the active deals of last 5 months or last year. If the question could be elaborated, I can answer better. If you wish to ask why the deals posted a year ago still show up on DealMakr page, please note that for some commodities, finding the right supplier who matches the target price takes time and buyers often leave the deal open and active before the right supplier is found and the deal is closed.

16) Is it possible we get to know what the products most wanted in dealmaker at the end of the month?

Since we deal in all commodities, you will get all kinds of products listed on the Dealmakr page. You can however keep a check on which products are posted frequently or on a daily basis to get a better idea for demand of that particular product.

17) As a suppliers, we can display our products on Dealmakr maximum customer don’t give any reply.

At the moment we do not have any option to display your products on the Dealmakr page. Only a buyer can post his buy requirement. However, as a gold member you can add a number of products to your profile along with product images which will be shown on the website.

18)  You don’t have anyone who can make our deal?

You need to join any deal of your product through the Dealmakr page. Once you join the deal, we will help you in connecting with the buyer and send your offer to them. This will surely help you in getting better response from the buyer and fasten the deal process.

19)  How many Gold members will single relationship manager handle? Will he or she handle our competitors too?

Thanks for a very interesting question. Please note that go4WorldBusiness.com hosts paid members who sign up from all over the world and deal in a whole array of commodities. While trust is the foundation stone upon which we have built such an enormous member base, we ensure that on every step of the way, confidentiality is maintained in support and services we provide to each and every member who is part of go4WorldBusiness.com.

Having said that, even though a same Relationship Manager may handle two members with similar product range, there is never any cross dissemination of information since  there is no conflict of interest on our part. As RMs, our employees are dedicated to provide you the best services and advice to help flourish your business.

20)  Can seller post a deal?

No. Only buyers can post a deal on DealMakr.

21) As a supplier in the same time can we choose two different categories or listing to different categories?

Yes, you can choose two different categories in Dealmakr.

For those of you who missed the webinar, here’s its complete recording-

We really appreciate the participation and engagement our attendees showed during the webinar and look forward to hosting another informative webinar soon.

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