5 Steps to Dominating the International Market
Within five easy steps, you can dominate the foreign market in 100 days. Follow these guidelines which are critical to making your market expansion a success.
1. Establish the Current State of the Nation
Look at the market landscape and determine what opportunities currently exist. Use this time to identify the “sweet spots” for your business. Look at the barriers of entry and determine what barriers exist in blocking your path to success such as lack of branding, language, culture, or competition.
Next, study and identify who your main competitors are, what their strength and weaknesses are and what presence currently exists in the market already for your own business. Lastly, determine what proper systems and automation methods should be implemented.
2. Place Your Team
After your initial evaluation is completed, it is time to get the right profiles and roles established for your team. Determine which ones will be in house or outsourced and create job descriptions, roles, and duties for your recruitment efforts.
Define the agency responsibilities and start the selection process based on your needs. If you want to solicit an external agency, get your requirements in place and prepare to launch a kick-off meeting when done.
3. Plan Your Market Initiatives
Start local with registering domains, launching new regional websites, and optimizing your local search traffic. Look at participating in events such as industry related trade shows, analyst events, partner events, and your own events. Build a database, perform third party email broadcasts and produce webinars.
Create compelling content through blogging once a week or day, show leadership, and offer additional relevant topics on your site. Use ebooks to help your audience become experts, focus on design, and promote via social media methods. Lastly, promote customer advocacy and produce assets like customer testimonials, video testimonials, quotes for press, and positive social promotion.
4. Fuel the Buzz
Create a buzz around your brand by working with key influences in your marketplace. Gather fans of those who really love your product, journalists in your industry, social media users, and analysts to speak your company up.
5. Enable the Sales Team
Without a sales team, you are unable to convert leads to sales. Create a competitor cheat sheet to find weak points in their business and enable your own personnel to succeed. Create sample emails that match your marketing messages and target the top 20-50 accounts for your marketing plan to augment existing knowledge with third party data about each customer.
Integrate slides and other content methods to answer consumers FAQ’s about your product and service. Ensure to provide online demo support and email invitation templates to live online demos.
These five tips will help you evaluate your current businesses position and make you aware of prospective opportunities you can exploit when expanding your market. After the 100 days, you will find yourself in a better position than you started.