Convert international market potential into real market penetration
There are rich commercial opportunities for businesses bold enough to look beyond borders. Just look at the EU ─ over half a billion people and 22 million enterprises. Potential customers are multiplied by an order of magnitude. As the saying goes ─ “who dares wins”.
Trust what you already know
Effective international marketing has been transformed by approaches like email ─ increasing reach and reducing costs. But how do you identify targets in such vast and unfamiliar territories? It’s clear that it’s not just customer potential that is multiplied, says Rob Eaton, director of sales, International, at Avention.
The key to success is to trust what you already know. In home markets we understand that ‘spray and pray’ approaches are outdated. Insight is critical if we are to reach the right customers at the right times with the right messages. So it follows that unlocking the potential of international markets requires the same levels of intelligence.
Broaden horizons ─ define objectives ─ sharpen focus
Home or abroad, data is the foundation of insightful marketing. As your organisation broadens its reach, your data provider needs to sharpen its focus. This places new demands on providers ─ one that knows your home market well might be hopelessly lost overseas.
Choosing the right provider requires that you think hard about objectives ─ whether you’re entering one country or a whole continent. If the former, a local-only data provider might seem sensible, but risks missing wider opportunities. If the latter, a global provider may not have the on-the-ground insight to give you the detail you need.
Overseas adventures ask for a data provider that combines global reach and local expertise. They are able to look at all the opportunities open to you ─ in breadth and depth ─ rather than the limitations of geographies or sectors.
Reach into the right markets
Basware, a leader in financial process enterprise software, is a great example of a company that has seized international opportunities by leveraging its data provider’s global reach and local expertise. Basware’s Ceri Jones said, “Our success is driven by deep customer understanding. We know that bringing our unique insight to new audiences ─ SMBs in untapped markets ─ offers growth potential, but the challenge is to identify targets across geographies and sectors.”
Basware uses Avention OneSource to gain this insight by delivering a truly targeted view of accounts. OneSource links with Basware’s CRM to combine internal and external data identifying what Ceri describes as the “whitespace” ─ fresh areas of opportunity. Simplicity and flexibility are highly prized: OneSource is embedded within the CRM where it automatically identifies the high value accounts, but also allows for manual creation.
Time and efficiency gains represent the big wins. Sales are more efficient ─ with teams focused on the sectors, companies and contacts who count. This increases conversion and, in understanding targets in a wider context (such as company relationships within groups), brings additional cross and upsell opportunities. Ceri is impressed by the breadth and depth of Avention data, “It brings Basware the power to reach into the right markets, the right sectors and the right contacts ─ turning international market potential into real market penetration.”
Dare to win
International markets are rich in potential ─ but realising the opportunities demands commitment and intelligence ─ from your organisation and its data provider. Avention is a one-stop-shop for companies wanting to grow across borders. We deliver the data and associated expertise ─ such as an understanding of local, national, regional and international email regulations ─ that ensure you reach into the right markets at the right times with the right offerings to the right contacts.
As I said at the start of this blog, “who dares wins” – so why don’t you take the first bold step and talk to me about international opportunities today.
The author of this blog is Rob Eaton, director of sales, International, at Avention.
Comment on this article below or via Twitter: @ VanillaPlus OR @jcvplus