How do you develop sales operations best practices for new markets?

Establishing feedback loops fosters communication channels connecting sales teams and various departments. Upholding ethical standards and cultivating trust between the brand and its customers remains of utmost importance. Adapting to evolving market dynamics and embracing change is imperative, yet we should always remember that in-person interactions continue to play a pivotal role in nurturing genuine rapport and deep connections.

I agree. But the other thing that has to be mentioned is that you have to out-work everyone else and learn from everyone you can. AND be sure to teach the next generation of leaders and they will teach you so much more by how well they listen.

Before you try to make any sale ask yourself, What stereotypes will I be battling? The first question of entering a marketing is, what's our positioning. The second question should be, how are companies and people in this market perceived? The book 'You, Inc.' does a great job iterating this point.

While assessing the market potential is crucial, it's also essential to consider the cultural and local nuances of the new market. Understanding the cultural and social factors, consumer behaviors, and business etiquette can be as important as the quantitative data. Cultural differences can significantly impact how products or services are received and marketed in a new market. Therefore, conducting in-depth research into the cultural aspects of the market and potentially seeking advice from local experts or partners can provide valuable insights for a successful market entry strategy.

Another important title should be ‘Adapting your product’. Especially in conservative markets like US, as a new company, you cannot come up with a completely different product if there are similar ones in the market. You should consider: - Application habits of the first level customers (B2B) either they use within their production or they resell it directly. - Habits of the market related to packing and finishing. There might be a specific tool that they use with your product. Your packing should exactly match it - Identifiers of the products. Sometimes a specific color of packing might recall a specific manufacturer. This can be a good or a bad similarity, which may effect the acceptance of your product by the end users

Adapt sales strategies to the local culture, language, and business practices. Customize product messaging and positioning to resonate with the specific needs and preferences of the new market. Highlight the problem solved by the product.

TRAINING and DEVELOPMENT: This might also involve cultural sensitivity training, language courses, or deep dives into local industry trends.

Provide comprehensive training to sales team on the nuances of the new market. Ensure they understand the cultural sensitivities, market dynamics, and competition. Equip them with the necessary product knowledge and sales techniques tailored to the new market.

Develop a standardized sales process that aligns with the unique characteristics of the new market. Clearly define the stages of the sales cycle, from lead generation to deal closure. Implement tools and technology to streamline and automate processes where possible. Create a Process driven system.

Collect customer feedback regularly and use it to iterate and refine sales strategies. Stay agile and be willing to make adjustments based on market feedback and changing dynamics Establish key performance indicators (KPIs) to measure the success of sales operations. Use analytics tools to track and analyze sales performance, customer behavior, and market trends.

Eli Goldratt writes a beautiful book, "The Goal" on managing to the correct metrics. Today, especially in the digital world, we have too many metrics. Too many metrics to manipulate what success is determined by. Keep it simple. Identify your leading and lagging metrics to support The Goal. Example: I hired an operations manager for a company. This manager thought efficiency was the number one goal. Sounds correct, right? Wrong. To make matters worse, companies that strive for efficiency are slowly putting themselves out of business. Profit is the goal, efficiency is a tool, not a means to an end. Being too efficient can sacrifice profit. See the problem? Using the wrong metric to determine success can run you right out of business.

If this sales development is about a manufacturing company, there is a great advantage to offer the correct version of your product. Here are basic pros: - Each market might have a specific understanding of the products that you offer, or a specific way to use your product. As a manufacturer, you will have the advantage to fine tune the product for that specific market. - Besides the core product, there might be a different kind of packing used in the targeted market; which might ease the application in the way that they are used to. You will have ability to do so. - After some time, you will start hearing the problems about the product in the way it is, and there comes the biggest opportunity.