Cheat Sheet: Market Entry Strategy

Defining your roadmap: planning and preparing your international expansion.

01: Market Entry Strategy: What, Why and How?

What is a market entry strategy?

It is he strategy with which your business plans to achieve increased sales, brand awareness and business stability in the new market. It will set your goals, your milestones, and your roadmap along the way.

Why do you need a market entry strategy?

Once you are in the market, you will need to act fast and decisively, and the clearer your strategy has been prepared in advance the fewer mistakes you will make. It will also help plan your budget and operational roadmap for the first year.

How do you structure a market entry strategy?

The Market entry strategy should help you clearly define your sales and business development strategy, as well as the best way to support it through your marketing and communication efforts in the local market.

02: Sales & Business Development: Getting your first local clients

Which clients?

Make a short list of the most interesting clients, depending on your Ideal Client Profile (ICP), to target during the market rollout based on their industry, their size, and their location, as well as the contact details of them, in order to enter all that information in your CRM.

Which personas?

Define the buyer personas of those clients, compare them to your local market, and analyze the differences when it comes to their business focus, their expectations, and their buying process, in order to prepare your sales team.

Which channels?

Compare direct, indirect and hybrid sales approaches in the local market, and select the one most adapted based on your solution, your sector and your clients, as well as your partner network in the local market.

03: Marketing & Kommunikation: Developing your brand in the new market

Define your USP:

By benchmarking your local competitors and the needs of local buyers, validate your product-market fit, and clearly define which elements of your value proposition are the most relevant for the local market.

Adapt your messaging:

Analyze the wording and the messaging of competitors and partners in your industry in the local market to adapt your communication to the local audience by using the appropriate keywords and expressions.

Select your communication channels:

Compare various marketing channels, from social media to events, list which ones are used by competitors, assess their impact on your target audience, and select those most suited to your needs.

04: Resource plan and action plan: Managing your first year in the local market

What you will need: Resource Plan

Assess the impact of the market entry on your business by listing the required resources in each business function over the first year. Based on this you will be able to decide how many additional resources you need to invest to succeed.

    • Legal team
    • Marketing team
    • Sales/BusDev team
    • Logistics/Operations
    • IT/Security
    • Others…

What you will do: Action Plan

Clearly define a roadmap for the first year, with ambitious but realistic milestones for each business function. Set clear KPI’s and objectives to check the progress once the market entry is launched.

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International Readiness Workshop

The status quo before the project

The DACH market had been identified by the Collective Thinking management as a strategic target market in Europe. First business development and sales actions have been conducted by the first German team and a GmbH had been established. 
The CT team wanted to continue to build their knowledge of the German market, the identification of key partners, key client groups in order to better evaluate business development potential and sales targets. This knowledge shall help define an appropriate strategic and operational marketing approach for CT in the DACH markets. CT is also in the process of raising a Series A funding round, a European approach can be evaluated in this project.

What we did

Wyngs wanted to support the Collective Thinking Team to create a strategic and operational roadmap for optimized business development and marketing/communication, with a special focus on developing the DACH markets – Germany, Austria and Switzerland.

We prepared a 1-day workshop, divided into 2 major parts:

  • Review of existing actions, the discovery of the key players and potential business development partners, enhancing market knowledge. 
  • Creation of a strategic and operational business development and marketing plan for 2021. 

Presentation of results of the workshop in the form of a roadmap to concretely address the mentioned challenges.

CEO Vincent

The “International Readiness” workshop with Wyngs allowed the German team of Collective Thinking to better understand and define the needs of the German market, particularly in terms of marketing strategy & business development. If you too are planning to develop internationally, Wyngs would be a very good partner to succeed in these first steps, which are essential for successful development.

Vincent Susplugas

CEO Collective Thinking

CEO Vincent

The “International Readiness” workshop with Wyngs allowed the German team of Collective Thinking to better understand and define the needs of the German market, particularly in terms of marketing strategy & business development. If you too are planning to develop internationally, Wyngs would be a very good partner to succeed in these first steps, which are essential for successful development.

Vincent Susplugas

CEO Collective Thinking

CEO Vincent

The “International Readiness” workshop with Wyngs allowed the German team of Collective Thinking to better understand and define the needs of the German market, particularly in terms of marketing strategy & business development. If you too are planning to develop internationally, Wyngs would be a very good partner to succeed in these first steps, which are essential for successful development.

Vincent Susplugas

CEO Collective Thinking