There’s always a bit of apprehension when trying something new. As a kid, it may have been moving to a bigger climbing frame or jumping off something higher and in business it’s exactly the same. It’s the fear of the unknown. When you’re unsure what the outcome is going to be, there’s going to be greater tension. It’s natural. For most of our customers, they have the added expectation of backers or investors, who are looking for a quick return and have put their faith in you on your ability to expand internationally. It’s not as easy as you think. Obviously, you can see household names on the high street, but no one started off as a household name and it can take a long time to get there. It may be better to break this down by the particular difficulties you may face.
Regardless of the territory you want to enter, there are some common problems which may occur. It’s likely you’re already aware of these factors but they are always worth mentioning just in case. What if you don’t know the local language of the market you want to enter and don’t know anybody who could act as an interpreter? There are also cultural nuances and ways of doing business. There may be gestures in your culture which are perfectly normal but in others are highly offensive. These are all things that need to be considered.
A local office
In a lot of ways you’re right, this would be the ideal. The reality though is that this is not only an expensive option but also a genuinely risky one. There are different laws, taxes and rates in different territories and depending on where you’re from, you may have to pay an extra levy to operate in a new country.
It’s a great idea. Local people have local knowledge and know the local market. But, how do you make a qualified hire when you don’t speak the same language? On top of this, how long is it going to take to find the right people and how patient are your backers going to be while you wait for these new hires to become successful?
There is another way
Maybe through pride or perhaps even investor pressure, a lot of companies decide that they want to take care of their own entire sales cycle. Of course, ultimately, the decision is theirs but there’s a very strong case for outsourcing.
The main benefits of sales outsourcing are that they take care of the entire sales cycle for you. From initial market validation to potential assessment and planning, segmentation and lead identification as well as sales process management to closure, everything is sorted.
Not only do we have local people who know the market and understand the culture, we also have an existing network of friendly contacts we can leverage to get you up and running quickly. Beyond this, we know how to get you the ROI you deserve – fast. That’s what you get from our experienced team of high performing professionals who have built up their expertise by being on the ground in the prescribed territory, having in-depth knowledge of the local market and a thorough understanding of the specific domain. And, this kind of sales outsourcing not only works but is available for you to take advantage of right now. In addition to the other benefits, it also reduces your risk by allowing you to test the market without the expensive choice of full market penetration. What’s more, once you have gained a foothold and had some success in the new territory, you are more than at liberty to open an office and hire your own local staff. In short, you can enjoy all the benefits of full market penetration with only a fraction of the risk.
To ensure you make the most of your market penetration, get in touch with Aexus. We’re always happy to jump on a call.