Enter New Markets
Process for Entering New Markets
Process for Entering New Markets
Get an objective Sales Readiness Assessment of your strengths and weaknesses before Entering a New Market. Read more…
Develop stronger Value Propositions for selling to big budget customers. Read more…
Choose Initial Customers wisely. Listen closely and learn from them to improve your offering. Read more…
Target better leads by developing your Sales Pipeline. Read more…
Optimize Pricing by better understanding the value you provide. Read More…
The diagram below shows the important elements in the development of a company.
The founders have a Vision of what they want to do. That gets transformed into a Strategy for approaching potential markets. Then, it is important to explore market segments and to focus once a desirable market segment is identified. Having developed the Product/Solution/Service and acquired the Initial Customers (Development Partner Customers), it is time to apply the execution resources to grow the business.
Listening is a key skill when entering a new market. Learn about the customer’s pain regarding the problem that you propose to solve. Understand how the prospect does it now and what they want to change. Early customers provide feedback on feature set and become your initial references. It is very important to choose these customers wisely, as they can consume your resources.
The most important contribution that first customers in a new market (for you) can make is to give you their time to help you develop your technology into a product/solution/service that the market needs.
Our approach to new enterprise markets is to acquire Development Partner Customers. We select potential Target Markets, Target Companies and Target Title Types within those markets to test the level of pain about the proposed problem to be solved. Once we have verified that there is sufficient pain in a market segment, the Development Partner Customer relationships are formed. GPG has deep experience executing this approach in our AlphaDeal Program, in which we are the client’s out-sourced sales team. It is also supported by Steve Blank, in his book “The 4 Steps to the Epiphany”.
Growth Process Group offers a Sales Readiness Assessment service to identify and fix important gaps in go-to-market capability before they become crippling.
