Navigating New Markets: How Expert Insights Paved the Way for a Tech Company’s Successful Market Entry

Background:

Nextyn’s client - a leading software company specializing in AI-driven analytics - faced challenges entering the South-East Asian market. Despite having a successful track record in the North American and European markets, the company struggled with understanding local market nuances, consumer behaviour, and regulatory landscapes in South-East Asia. The key objective was to successfully launch the client’s flagship product in three key South-East Asian markets while ensuring compliance with local regulations and effectively addressing the unique needs of the local customer base.

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Solution:

The client partnered with Nextyn’s expert network to gain deep insights into the South-East Asian market. Our approach involved:

• Connecting with Local Experts: We provided access to a panel of 11 industry experts from the South-East Asian tech sector, including former CTOs of leading local tech firms and regulatory consultants.
• Market Analysis Workshops: Organized a series of workshops where the client’s executive team met with our experts to discuss market trends, consumer preferences, and entry barriers.
• Regulatory Compliance Guidance: Facilitated sessions with two regulatory experts who had previously navigated the introduction of foreign tech products in these markets.

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Results:

• Market Understanding: The client gained valuable insights, learning that the South-East Asian market favored flexible, cost-effective solutions over high-end features, leading to a 22% adjustment in their product offering.
• Regulatory Compliance: With expert guidance, the client successfully navigated local regulations, reducing their go-to-market timeline by 14%.
• Successful Launch: The product launch resulted in an 11% higher adoption rate than initial projections. Within the first six months, the client secured 10 major contracts with top local companies, marking a 25% increase in their customer base in the region.
• Revenue Growth: In the first year following the market entry, the client reported a revenue increase of 28% from the South-East Asian market, exceeding the initial forecast by 8%.

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Conclusion:

By leveraging Nextyn’s expert network, the client was able to make informed decisions, tailor their product and strategy to meet local demands, and achieve a successful market entry in South-East Asia.

About Nextyn:

Nextyn is a leading expert network with offices in Singapore, Mumbai, Bangalore and the UK. With experts in spread across 70+ countries and 30+ meta industries, Nextyn's global capabilities have helped clients in over 16 countries make informed business decisions. Our clients largely constitute strategy & management consulting firms, PE/VCs and corporates. We deliver the highest quality, flexibility and the most competitive prices in the industry. To know more, write to us at [email protected] or visit nextyn.com