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Internationalizing sales operations enables firms to reach out to new target markets and increase revenue by expanding and accessing a brand new customer base and sales potential. In comparison to online retailers, suppliers of e-commerce related technology solutions can benefit from the fact that there are no such obstacles as delivery or returns. On the other hand, challenges for these firms include getting to know the new market, finding adequate personnel for outbound acquisition activities and building and managing their growth. As a provider of sales expansion tools and services, today I’ll shed some light on why expanding across borders harbors enormous, often underestimated potential for technology firms.
Many brands, manufacturers and retailers have expanded their business across borders using the advantages of online selling to tap the potential of their products and services in new markets. The Internationalization of technical solutions including platforms, payment options, SaaS software and supplying technology, is something that is rarely highlighted. Expanding sales activities across borders ultimately means acquiring more customers – and thus seizing opportunities otherwise left unused. Here come five key priorities every tech company with international aspirations should keep in mind!
1. New markets are not scary.
Exploring new markets means exploring growth potential. Unlocking this potential mostly requires taking a number of organizational steps and investing in a structure capable of generating leads and revenue. Outsourcing sales activity can mean substantially less hassle because there is no immediate need to agree on long-term commitments, recruit and hire personnel and arrange all bureaucratic issues such as local phone numbers, support and product- and system translations. Outsourcing can therefore be an opportunity to try out a new market in an easy and controllable.
2. The time is now!
Your product is successful in you home-market. Your sales are soaring, so now it is time to look beyond your countries boundaries to expand this success. There is reason enough to trust in the product’s international opportunity, so go for it. Once you have selected one or more markets to go for, working with a competent outsourcing partner to kick off your market entries can get a company started within weeks instead of months and start leveraging revenue from start.
3. Rely on global and local expertise.
Knowing which prospects to go for, running an office and managing local personnel are tasks that require local knowledge. Make sure you can tap trained professionals who can assist you with their expertise on the local market and doing business there.
4. Scalability should be your point of departure.
Working in a new market needs a focused and well-structured approach, so it’s recommended to launch your activity with a profound and good solution from the start. Overhead and start-up operational costs can be difficult to estimate and control without a tangible history of sales and revenue. When considering business growth, with the ultimate goal of growing ROI, it’s crucial to accommodate all aspects of growth, from the increase in local expertise to increase in demand. Controlling the in- and output and reacting to changes in the market climate can be a challenge you want to have controlled.
5. Be ahead of your competition.
Being first mover makes in many cases an important difference and gives you an irreversible positive step ahead. Therefore be sure you enter new markets as first mover, but be sure you don’t flood with organisational issues and challenges. When working solely or in addition to your existing salesforce you can assure yourself with a scalable and flexible solution which can easily support you in covering all growth potentials. Hereby you can focus on the things you can do best; the development of your product and services.