You're expanding your sales into uncharted territories. How do you gather market intelligence?
-
Tap into local expertise:Connecting with local business associations and chambers of commerce provides valuable insights and networking opportunities. This allows you to understand the nuances of the new market from those who know it best.### *Run pilot campaigns:Testing the market with small, targeted campaigns or surveys helps gather real-time feedback. This approach enables you to adapt your strategies before committing to a full-scale launch, minimizing risks.
You're expanding your sales into uncharted territories. How do you gather market intelligence?
-
Tap into local expertise:Connecting with local business associations and chambers of commerce provides valuable insights and networking opportunities. This allows you to understand the nuances of the new market from those who know it best.### *Run pilot campaigns:Testing the market with small, targeted campaigns or surveys helps gather real-time feedback. This approach enables you to adapt your strategies before committing to a full-scale launch, minimizing risks.
-
Market research isn’t enough - if you do what you do well - rely on honing your pitch to your core capability. If you do too much - reconsider your GTM. What I’ve learned in selling complex solutions is that now more than ever, clients are looking for innovation backed by case studies to de-risk. If you haven’t got those case studies, invest in them. That may require you to hire delivery expertise (forget the chicken or the egg - take the leap), and/or buy the business in a competitive tender. Success in selling is your ability to convince clients your company can deliver better than your competitor. Don’t just rely on sales skill and your network - rely on delivery skill so that your client gets the value so everyone wins - not just sales!
-
When expanding sales into uncharted territories, gathering market intelligence is crucial for success. Start by researching local market trends, customer behaviour, and economic conditions through industry reports and government data. Engage with local experts, such as market consultants or business associations, to gain on-the-ground insights. Conduct competitor analysis to understand who the key players are and identify potential gaps in the market. Leverage social media and online reviews to assess customer preferences and pain points. Additionally, run small pilot campaigns or surveys to test the market directly, allowing you to adapt your approach based on real-time feedback before a full-scale launch.
-
Leverage your existing network - talk to people who are based where you want to go or get connected through people you know. The direct inputs are golden
-
-Collect and gather customers feedback. -Analyze competitors and understand their behaviour. -Check the current market trends to understand the market mood. -Conduct as many surveys as you can by targeting different segments. -Visit the market by your own team get satisfied with the direct interactions. -Set up the objectives and get to know the market preferences if aligned.
-
Ask your clients and ask your teammates. Usually, the market intelligence is best acquired from people. If you have great clients, they will tell you the in and outs. Alternatively, you can find people via LinkedIn
更多相关阅读内容
-
International SalesHow do you collaborate with local partners and experts for global market research and insights?
-
International SalesWhat are the best sources of market research for international sales?
-
Sales ManagementWhat is the best way to develop a competitive analysis for a new territory?
-
Institutional SalesHow do you identify and address the pain points and needs of your institutional prospects?