New Market Entry Planning Services

New Market Entry StrategiesExpanding internationally is a business imperative for many companies looking to diversify their revenue stream and smooth out the dips of one country sales efforts. That being said entering a new market shouldn't be dumping product in a new country only after their current market has slowed as an afterthought - that rarely works more than once. Instead taking a strategic approach to entering new markets is the best bet for long term sales and less headaches along the route.

Our goal is to provide companies and entrepreneurs with the knowledge and information they need in order to make their entry into a new market or expanding in a current one as easy and profitable as possible. We understand the many challenges entrepreneurs face because we have been there and have partners that are switched on / get it! Most are familiar with the language and cultural challenges they will face in a new market entry. However, the other aspect is that many countries have different business and negotiating styles that must be taken into consideration and planned for in order to succeed, in market.

One of the things that differentiates IMES is the ability to do end to end market entry. That means we can help you research the market to ensure it has sales potential for your product or service, develop a marketing and targeted sales strategy, create the marketing content, build a tailored website to properly position you (as well as a social media marketing plan / SEO strategy) and even help with business development, office location and legal/accounting referrals. Each of these pieces requires a significant amount of local coordination and knowledge. We do this by stepping back and taking the birds eye overview of your company then drilling down to specific actionable planning. When and where IMES feels that other companies are better suited to assist in specific aspects of a clients work, we will either have a recommendation at hand or work to find the right talent to get the job done.

Marketing Plan Outline

There are lots of variations on marketing plan outlines but at its most basic level most would agree that this covers the basics:

  1. Executive summary
  2. Current marketing situation
  3. Opportunity and issue analysis
  4. Objectives
  5. Marketing strategy
  6. Internet / Social Media Strategy
  7. Action programs
  8. Projected profit and loss statement
  9. Controls / ROI Measurement
  10. Budget

 

The ten headings above are starting points that require significant work between the consultant and the company building the entry plan.  IMES works with each client on a one-on-one basis to completely understand what the overall objective is, in order to focus on the essential parts of the plan.  We usually like to start with a competitive analysis - who will be your in market competitors? How are they selling the product or service and at what price? Who would be your potential customers? What regulatory or tax requirements need to be taken into consideration? Will you be able to provide the product / service at a cheaper price than your competitors or what do you beleive will differentiate your company in market?

The reason IMES prefers to start with a competitive analysis is to ensure your product is actually a good fit for the country you're trying to sell into.  If our research indicates that a client can't beat the competitors currently in market either by price, quality or service then this is probably not the market to enter and we should look at other countries to enter.