Are you expanding into a new market? Are you unsure about how to get leads cost-effectively? Business Development & Marketing Transformation (BDMT) Global uniquely helps assess the market with local and industry know-how, developing both effective GTM (Go-to-Market) strategies to support your new business direction and reach the market you are targeting. Our team helps ensure that your expansion sales pipeline and your marketing initiatives support your company’s overall goals, from strategy, planning, and research to execution, launch, and driving results.
Every year thousands of international companies come to the North American market and roll out the same business development playbook: sending 500 emails, making 400 calls, and attending 200 trade shows hoping to secure meetings with prospects and fill their pipeline.
A strong sales effort is a must, however, most companies skip one important step—deep analytics about the new market, the new segment, or gathering deep intelligence about specific prospect accounts to confirm that the direction is right and the GTM strategies are fully developed and differentiated from competitors.
For example, if you are a high-tech manufacturing innovator with products and technologies that can expand into various different markets such as semiconductor, healthtech, automation, pharmaceuticals, cosmeceuticals, etc., with an eye on the US market, and you are looking to win business from other vendors and expand sales, have you thought about the following questions: How many verticals and market entry options did you consider to maximize your ROI? How many other channels and scenarios have you evaluated before booking 15 expensive trade shows? Did you equip yourself with the right marketing assets to support your new business direction to be relevant to your new prospects? Do you have in-house experts for market opportunity evaluation, segmentation, and GTM planning, who have deep knowledge of the new segments or markets?
If the answer to these questions is no, your plan and your direction are likely not optimal. This is when you know that you need better business development.
Another big issue is that every one of your competitors has the same playbook, with a remarkable challenge to stand out from digitally-native players. What’s worse, the COVID-19 crisis has removed the trade show as a channel, replacing it with webinars. Now you are competing with others for prospect attention in an online marketplace. Does your team have the know-how?
Can you track and convince buyers in the most relevant ways without trade shows so that you can effectively solve their problems? Are you selling a solution or a product? Have you figured out a winning business development AND marketing strategy that optimizes automation for cost effectiveness and conversions to position yourself as a solution for your prospects? Or, are you still manually triggering mass emails hoping to get noticed? That is when you know that marketing transformation is needed.
When launching into new markets, you need deep local expertise, you need to evaluate all options, and you need to choose smart, high-impact, cost-effective GTM strategies and marketing execution plans. Do you have strategy experts on your team? Do you have the right team and capabilities to execute your vision?
If your market entry expenses greatly exceed results, it’s time to stop and rethink your options and hire outsourced business development and marketing transformation experts. Market leaders have long been collaborating with outsourced providers to quickly and effectively generate results.
Outsourced BD (Business Development) and Marketing Efforts Have Been Proven Effective
Market leaders aren’t just taking a shot in the dark with outsourcing; there are cold, hard numbers behind the need to outsource. A Bain & Co. study of 2,000 companies over 10 years found that only one in 10 companies achieved sustained, profitable growth. The numbers don’t tell the full story, until you look at what the winners had in common: more effective capability sourcing. 85% of the winning companies used capability sourcing more broadly and innovatively than their competitors. If you need to find new ways to dominate in the market: the numbers prove that intelligent outsourcing is a good strategy to help your company secure its spot in the top 10%.
Your company stands to realize at least 8 benefits from outsourced BDMT Global services:
- Speed to Market & New Markets Entry
- Expertise Breadth & Depth
- Cross-Industry Knowledge & Innovation
- Expanded Go-to-Market Strategy
- Flexibility & Freedom
- Savings & No Overhead
- Accountability & Results
- Objectivity & Your Best Interests