Market development is essential for business growth. A great market development plan will uncover opportunities for your sales people to target and help close new business from existing and new customers. It also directs you to the right customers and segments. It should dovetail with your communication strategy to ensure your message gets across to those you want to influence.
Often a diverse approach which finds innovative channels to markets will yield the best results. Also, establishing sales systems with the right management tools and incentives is critical to sales success.
A winning formula for success in the Australian market may need to be adapted in international markets to suit local conditions, buying preferences, distribution methods and government regulations. Developing the right export market development strategy for each new country and finding the right partner will be critical to success.
Rycom Business Services can kick start your development efforts by guiding your business into new markets (in Australia and overseas) and helping you establish the sales systems that underpin growth. We also have considerable experience in export market development, particularly in Asia where there continues to be the fastest regional growth.
- Work with you in preparing your market development and communication strategies, as well as produce electronic and printed product literature.
- Manage product launch events etc.
- Find new customers and close sales in new and emerging markets.
- Find the best channel partners (distributors, agents, licensees etc.) and negotiate agreements with them.
- Establish sales systems that ensure monitoring and rewards.
- Recruit full time sales staff with the skills needed by your business.
- Assess the attractiveness of overseas markets and develop effective market entry strategies (export, licensing, MUL).