Test your entry into a new market with a trial batch
Posted: Sun Jan 19, 2025 4:40 am
Select strategic steps for expansion taking into account the market size and the activity of competitors operating in it. If, for example, they are clearly weaker than you, and the market is huge, then you can enter boldly, even aggressively. But if you are not confident in your abilities, try a test launch with minimal costs and see how everything goes. Then make adjustments to your actions.
At the initial stage, it is recommended to organize the first sales through partners (and not aim straight at the end consumer), that is, to use the agile format to enter a new market. There is another approach - to offer your product for test use to potential clients, and pay them for this and for providing feedback. A couple of such clients will help to understand in what form the product will be in demand in this particular market. This is very valuable information both for france business email list entering new regions and for implementation in not yet mastered market sectors or segments. Before investing in full-scale sales, it is necessary to assess the capabilities of the selected market.
A trial run will give you valuable information to adjust your program of action and make further and further attempts until you have developed a strategy for a full-scale launch.
The company's entry into new markets during a crisis
It is not worth thinking that entering new markets in a crisis situation is a wrong strategy. No matter what cataclysms rage in the economy, opportunities for development and advancement can always be found.
During a crisis, the following happens in the market:
demand is falling, lead generation rates are very weak;
the average bill amount is decreasing;
the transaction duration parameter increases;
The conversion rate is very low.
However, all these manifestations can be caused only by your internal circumstances. If so, then your competitors should prosper. Therefore, monitor their activities, keep your finger on the pulse and do not miss the opportunity to make a breakthrough when everything is bad for them (what can you do, such are the realities of market relations).
Well, if the issue really is a general crisis, then there are undoubtedly some advantages here too.
The first advantage: try to hold on with all your might, work 24/7 and even more. Weak market participants will soon make room for those who have survived, and excellent opportunities will appear for entering new markets.
The second advantage: due to the difficult economic situation, it will be necessary to quickly optimize low-profit projects, or even close them down. And this will save you from unnecessary expenses.
The third advantage: suppliers also need to survive somehow, which means you can negotiate with them on more favorable terms and prices.
Always know that if in business you have to somehow strain yourself, suffer for something, this is a sure sign of upcoming growth, active development and entering new markets.
At the initial stage, it is recommended to organize the first sales through partners (and not aim straight at the end consumer), that is, to use the agile format to enter a new market. There is another approach - to offer your product for test use to potential clients, and pay them for this and for providing feedback. A couple of such clients will help to understand in what form the product will be in demand in this particular market. This is very valuable information both for france business email list entering new regions and for implementation in not yet mastered market sectors or segments. Before investing in full-scale sales, it is necessary to assess the capabilities of the selected market.
A trial run will give you valuable information to adjust your program of action and make further and further attempts until you have developed a strategy for a full-scale launch.
The company's entry into new markets during a crisis
It is not worth thinking that entering new markets in a crisis situation is a wrong strategy. No matter what cataclysms rage in the economy, opportunities for development and advancement can always be found.
During a crisis, the following happens in the market:
demand is falling, lead generation rates are very weak;
the average bill amount is decreasing;
the transaction duration parameter increases;
The conversion rate is very low.
However, all these manifestations can be caused only by your internal circumstances. If so, then your competitors should prosper. Therefore, monitor their activities, keep your finger on the pulse and do not miss the opportunity to make a breakthrough when everything is bad for them (what can you do, such are the realities of market relations).
Well, if the issue really is a general crisis, then there are undoubtedly some advantages here too.
The first advantage: try to hold on with all your might, work 24/7 and even more. Weak market participants will soon make room for those who have survived, and excellent opportunities will appear for entering new markets.
The second advantage: due to the difficult economic situation, it will be necessary to quickly optimize low-profit projects, or even close them down. And this will save you from unnecessary expenses.
The third advantage: suppliers also need to survive somehow, which means you can negotiate with them on more favorable terms and prices.
Always know that if in business you have to somehow strain yourself, suffer for something, this is a sure sign of upcoming growth, active development and entering new markets.