A New Market Sales Strategy In 8 Simple Steps
With 20% of new businesses failing inside 12 months, and more than 50% nowhere to be seen 5 years down the line, do you really need any more incentive to get your sales strategy in order? Well, the truth is, you might do. Just because you’re a well-established business doesn’t mean these kinds of stats shouldn’t jump out and grab your attention. Failure comes around the corner just as quick if you enter a new market the wrong way. Now that we’ve got that out the way, let’s take a look at how you can do things the right way…
1. Know what your audience actually wants
Before you jump straight into the world of outsourced B2B lead generation and everything else that comes with it, you need to know what your audience actually wants. Whether you’re an aspiring startup or an established name, when you move into a new market you have to know what the audience there is looking for. Do your research, check that there is in fact a niche and a gap there to be explored, and then move to step 2.
2. Create an Ideal Customer Profile & UVP
Now that you know what your audience wants, it’s time you got to know them in a lot more detail. Creating idealized customer profiles and unique value propositions might sound like it’s pretty far removed from making sales, but you’re really not going to get very far without one. If you want to be able to speak the language of your new audience, how can you expect to if you don’t know who they are, what they’re looking for, and what they can’t do without?
3. Differentiate your sales team’s roles
Now you know there’s a gap in the market and you understand the people who want you to fill it, you need to start shaping your team. What you want is a team where each member has their own speciality, rather than a team of all-rounders who don’t quite cut it. Many organizations, particularly startups and SME's, opt to partner with a team of specialists who focus on generating the initial leads and qualifying the prospects for you. By partnering with the right outbound sales agency, you’ll be able to devote far more of your time to that all-important fine detail and closing that’s going to make all the difference.
4. Give your prospects more than just another sales pitch
Sales pitches are okay, but you don’t want to hear them all day long. Take this blog for example. We could be sat here typing a huge long list of ads to bombard you with, but instead we’re aiming to add some value with advice on how to get started. See what we’re getting at? If you act more as a consultant and advisor when it’s appropriate, rather than constantly pushing the hard sell, you’ll find the numbers do the talking at the end of the quarter.
5. Make sure you’re targeting the right people to begin with
Before we get too far ahead of ourselves, let’s just take a pause. Ask any B2B lead generation agency what one of the biggest mistakes companies make when expanding into new markets is and they’ll tell you it’s targeting the wrong people. Take a step back and check that all those leads you generate that seem to largely be staying ice cold aren’t people who were never likely to buy in the first place.
6. Highlight the track record, but don’t rely solely on it
One of the great things about being an established name that’s had success in another market is you have a track record. It shows you know how to run a business and please your customers, but it’s not a magic bullet that will take care of every objection and decision point.
7. Create a pipeline and keep moving prospects through it
Once you’re starting to get the hang of things, you want to start thinking about longevity. It’s your pipeline that will ensure a steady stream of business comes direct to your door. Partner with a team who know how to get one moving and it’ll make a world of difference.
8. Remember the personal touch makes all the difference
Nobody ever got good at personalized outbound sales by copy and pasting responses and messages. It’s the personal touch that makes all the difference because it shows every prospect that you care about doing business with them. Find a team of experts who will add these kinds of touches to your strategy and you’ll be well on your way to where you want to be.
Now that we’ve told you all about how to conquer a brand new market, you’re probably ready to get started. To ensure you have the basics in order so you can focus on meeting clients and closing deals, why not book a 15 minute phone call? We’ll tell you everything you need to know, check we’re the right fit for you and then you can get ready to conquer that new market we were talking about.