While business growth is always positive, stepping into a new market is often simultaneously nerve-wracking, thrilling, and intimidating. Strat Americas has assembled an experienced and knowledgeable team to help you navigate the complexities of such a transition. Read below to learn more about specific processes in our market entry consulting services.
We begin our business expansion services with extensive market research for your new venture. This includes but isn’t limited to, growth trends for your industry in the new market, economic and demographic tendencies, key competitors in the market, and any formalities or barriers that are unique to the market. Having a firm grasp of the market factors that presently influence your new territory enables us to present quality recommendations in an actionable framework.
When a successful business is entering a new market, it’s always worth spending significant time evaluating primary competitors, as well as their sales and pricing strategies. It’s prudent to adopt characteristics similar to the competition yet enact and market them in an advantageous fashion. This allows you to achieve momentum in the early phases where your focus should be building customer relationships and generating solid revenue.
Depending on the products or services you offer, it may be worth partnering with local firms or setting up your own operations. Our market entry consulting services team reviews all the legal and technological prerequisites for doing business in the new region, so you’re prepared for success from day one.
One of the more challenging aspects of offering your service or product to a new market segment is knowing what to invest in first and how to scale revenue properly. Through conscientious evaluation of services and processes that can help your new market expansion succeed early, we provide strategic options to maximize customer retention, profit, and scalability.
Ready to learn more about our business expansion strategy consulting? Go here to contact us and start a conversation. We look forward to working with you!