Go-to-Market Strategies: Mind the Gap
We help our clients formulate successful market strategies and optimize their business operations in new, local markets. Our insights into local trends and market dynamics combined with our business and management expertise put us in an excellent position to answer the relevant questions for a successful market entry.
Whether you want to tackle the market with channel partners, go direct with your own sales force or look for OEM partners, we support you with our network and our experience.
Go-to-market has a lot to do with strategy but even more with seizing the opportunities using local expertise and help. Therefore we strongly believe in offering you a one-stop approach, using proven ready-to-run services and campaigns, which can be enhanced and driven with your specific messages and USPs.
Three Lessons Learned from Go-to-Market Projects in IT
(1) Use local advice and networks.
Compared with other investment goods markets, IT is a fast-moving market environment. Many software and IT sevices companies fail to identify important new trends and market opportunities even in their local markets. On entering a new foreign market this challenge is even bigger.
The relevance and adoption of trends vary a lot in different local markets. While e-discovery, for examaple, has always been a huge issue in the United States, most European customers don't really care. On the other hand requirements on data privacy,protection, and compliance regarding cloud offerings are much more stringent in Europe than in the United States.
So, using local IT expertise will save you from many pitfalls and mistakes. In addition, using an existing network will accelerate your entry.
(2) Speed and timing are key.
Timing, adoption, and most of all, speed of implementation are crucial for success. Other consulting firms offer exhausting market entry consulting programs consisting of lengthy market analysis efforts and tiring strategic development routines. Reality shows us, that by the time these approaches are ready to be executed, the opportunity is gone.
Don’t get us wrong. We don’t underestimate the benefits of detailed analysis and planning. We simply value real business experience and success more. If your market entry approach does not deliver a substantial demand and a steady stream of new leads within six months, you are stuck, even with the best strategy. If you cannot show great references and substantial revenues after 12 months, you are stuck again.
(3) Seed the market before you enter it.
As soon as your team hits the ground, you are generating costs. It’s easy to spend EUR 750,000 per year for a great start-up team of five, i.e. two sales representatives and three sales engineers, consultants, or project managers. If they need to start from scratch, it will take them a minimum of six months to generate the first tangible customer leads and engagements.
The more effective approach is to seed the market wuth your presence before you establish high costs teams on the ground. Our high impact, low cost seeding approach allows you to engage with opinion leaders and local influencers using PR, analyst relations and social/online media. Using our ready-to-run marketing services and campaigns, which can be enhanced and driven with your specific messages and USPs, we can generate demand before your team hits the ground.
The same applies to a channel- or partner-based approach. It is much easier to engage and develop partners if there is already a steady demand for your products and services.
Our Bento Box Approach caters to these lessons learned from organizations who have failed to enter foreign markets.
We are highly specialized in go-to-market strategies for the two most promising markets on both sides of the Atlantic: The US market and the DACH market consisting of Germany, Austria and Switzerland. Our English- and German-speaking teams will support you with offices in the United States and Germany. Our team consists of IT positioning and marketing specialists with extensive experience in transatlantic cooperation.