steps to internationaldevelop an market strategy · ¾select your channel partners with care...
TRANSCRIPT
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CXOCXOAdvisory Group
Stephen N. Davis “Partnering With Clients to Drive Sustainable Profitable Growth”
November 2009
Steps to Develop an
InternationalMarket Strategy
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2000 - 2009 © CXO Advisory Group
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Anyone Can Go GlobalAnyone Can Go Global
Doing it Doing it ProfitablyProfitably
Is the RealIs the RealChallengeChallenge
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2000 - 2009 © CXO Advisory Group
CXOCXOAdvisory Group
Common Exporter Mistake #1Common Exporter Mistake #1
Insufficient Insufficient Commitment By Commitment By
ManagementManagement
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Common Exporter Mistake #2Common Exporter Mistake #2
Going Global Going Global Before Domestic Before Domestic Market is Fully Market is Fully
EstablishedEstablished
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Common Exporter Mistake #3Common Exporter Mistake #3
Failing to DevelopFailing to DevelopA FullA Full
GoGo--ToTo--MarketMarketPlanPlan
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Plan Your Entry into the ChannelPlan Your Entry into the Channel
“If you don’t know where you’re going you’ll probably wind up somewhere else”
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Market SelectionMarket Selection
So Many ChoicesSo Many Choices
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Common Exporter Mistake #4Common Exporter Mistake #4
Using Wrong Using Wrong Criteria for Criteria for
Selecting Markets Selecting Markets to Enterto Enter
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Common Exporter Mistake #5Common Exporter Mistake #5
Trying to Enter Too Trying to Enter Too Many New Markets Many New Markets
at One Timeat One Time
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Selecting Your Market: Ease of EntrySelecting Your Market: Ease of Entry
Netherlands, Nordic, Benelux, Germany, France
UK, Australia, New ZealandCanadaSimilarity to US
Business Models
1 2 3
LanguageCanada, UK, Commonwealth Countries
Nordic, the Netherlands
Germany, Spain, Eastern Europe
Employment lawsCanada, UK, Australia, New Zealand
Nordic, Netherlands France, Germany, Italy
Market Size Canada, UK, Germany, France Italy, Spain, Nordic Eastern Europe
Least Amount of Corruption
Canada, UK, Nordic, Netherlands, Germany
France, Belgium, Spain
Italy, Greece, E. Europe
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Common Exporter Mistake #6Common Exporter Mistake #6
Failing to Establish Failing to Establish a Budget Up Fronta Budget Up Front
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Creating Effective BudgetsCreating Effective Budgets
A program without a budget is a wish• Cancelled at any point• Not credible to reseller• Cannot be strategic or justified to management• Costs cannot be measured or controlled
Must estimate costs of program design, implementation and management
• Coverage, sales model, support model, value proposition• Calculate as both cost of sales and return on investment
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Common Exporter Mistake #7Common Exporter Mistake #7
Not Localizing Not Localizing The ProductThe Product
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Localization Localization -- MarkingMarking
Requirements vary from country to countryMade in USA has different meanings around the world
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Localization Localization –– Labeling, Labeling, Packaging & DocumentationPackaging & Documentation
Requirements vary from country to countryLanguage• May have Multi-
Lingual requirementCountry of OriginMay be layers of Labeling BEWARE: Regulations and Reality may DIFFER
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Localization Localization -- StandardsStandards
US Standards are NOT universally acceptedKnow the Standards you have to MeetCE Mark – European UnionCCC – ChinaNOMS – MexicoISO
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Common Exporter Mistake #8Common Exporter Mistake #8
Running Afoul Running Afoul of US Export of US Export RegulationsRegulations
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Common Exporter Mistake #9Common Exporter Mistake #9
Selecting the Selecting the Wrong Wrong
Distribution Distribution ChannelChannel
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Sales Channels Sales Channels –– The RealityThe Reality
“A product with better distribution will always win over a product with poor
distribution or customer access”
It’s not fair. It’s not right.But, it’s reality.
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Sales Cycle Stage
Know Your Customers Buying ProcessKnow Your Customers Buying Process
Customer’s Cycle Objective
Discover NeedIdentify Business GoalsQuantify Impact & ROI
DeliverCloseProposalQualifyProspectIdentify
Seek SolutionResearchFind VendorsGet Information
Review Vendor MaterialsDetermine Total Scope of ProjectRFQTiming & Budgeting
Agree on Solution and Project Specs.Coordinate Buying ProcessConfirm timing & BudgetSelect Vendor
Check ReferencesValidate Proposal EstimatesChoose VendorSign off ApprovalsContract signedPurchase Order
Start ImplementationAssign ResourcesStart TrainingManage ProjectPay Bills
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Channel StrategyChannel Strategy
Must start with the customerHow many channel partners do I need?What channel partners should I have?
• Build a channel partner profile• Link to end-user targets• Fit with existing channels• What role do they play?
• Influence• Sales• Support• Technical
How do I choose them?How do I measure them?How do I generate business for them?Do the financial requirements make sense for our company?
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Distribution Channels Distribution Channels -- Examples Examples
Direct salesStrategic partnersCorporate resellersMaster or local distributorsIntegratorsValue-added resellersManufacturer’s agents
BrokersFranchisesTelemarketersInternet sitese-MarketplacesRetailAgents (consultants, affiliates, etc.)
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Comparison of Major ChannelsComparison of Major Channels
High
Medium
Low
Low
Medium
Low
Low
Slow
Retail
LowLowLowHighMediumHands-On Sales/Marketing Support
HighLowHighLow/MediumLowRisk
LowMediumMediumLowMediumAccess to New Partners
HighLowMediumLowLowDevelopment of In-House Expertise
HighMediumHighLowLowCost of Sales
HighMediumHighLowLowBrand Control
HighMediumHighLowMediumManagement Control
SlowMediumMediumMedium/FastSlowTime to Market
SubsidiaryJoint VentureAcquisitionDistributor/VARAgent/Rep
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Channel Value Add Channel Value Add
ValueAddOf Sale
Cost per Transaction
High
Low
HighLow
InternetInternet
Tele-marketing
Tele-marketing
RetailStoresRetailStores
Dis-tributors
Dis-tributors
VAR’sVAR’s
FieldSalesFieldSales
“Low Touch Channels”
“High Touch Channels”
Direct ChannelsIndirect Channels
Direct
Sales
Channel
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Direct SalesDirect Sales
DedicatedControl message to the marketCustomer contactCompany loyaltyControl the BrandPriorities (focus) or products
Expensive!!!!• Accounts receivable• Inventory• Expenses• Employment costs
Slow ramp upLimited coverageLabor laws
Pluses Minuses
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Joint Venture or Strategic PartnershipJoint Venture or Strategic Partnership
Quick penetration – less riskEstablished market presenceProvides localization of productHandles all marketing, sales, distribution & supportProvides ongoing market analysisProvides ongoing competitive analysisUsually won't carry competing productTough sale – long sales cycle
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Approaching a Potential Approaching a Potential Joint Venture or Strategic PartnerJoint Venture or Strategic Partner
Be Ready to Explain Key Product AdvantagesDo Your Homework
• Why should they be interested?• Fills competitive hole• Enhances existing product line• Prevents having to compete against you• You could develop market in your home country for their
productsHow easy it will be to work with youSupport you will give them
• Technical• Training
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Key Issues Licensing AgreementKey Issues Licensing Agreement
Specs & DeliverablesAcceptanceGrant of LicenseTermsPaymentsBookkeeping RequirementsOwnershipUse of TrademarksTrainingDecision Making Authority
Marketing ObligationsList Price of ProductPerformance RequirementsWarrantiesLimitation of LiabilitiesDevelopment SupportRights to UpdatesTerminationSource Code Access
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DistributorsDistributors
Sells to other channel players within designated areaTakes title to goods and is compensated by mark-up upon saleSells suppliers goods to his own customersNo authority to act on your behalfMaintains InventorySells in original packagingMay or may not provide after sales servicesMany products are taken on consignment basis
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Distributor Network IssuesDistributor Network Issues
Exclusive v’s non exclusiveTerritory coveredPeriod, renewal, notice to terminatePerformance requirements (quarterly/annual)Poor performance cure periodsCross territory salesOEM sales Global account sales to multi national corporationsAppointment of additional distributors
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Manufacturers Agent/Commercial Manufacturers Agent/Commercial AgentAgent
Alternative to own sales forceBoth authorized to solicit orders in designated areaReceive salary or commissionUsually bear no credit riskMaintains no inventoryRequires same support & training as internal salesforceCarries several linesReferences, References, References
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Agent IssuesAgent Issues
Exclusive v’s non exclusiveTerritory coveredCommission ratePeriod, renewal, notice to terminatePerformance requirements (quarterly/annual)Poor performance cure periodsCross territory salesOEM sales Global account sales to multi national corporationsAppointment of additional agents
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The International Marketing PlanThe International Marketing PlanProgram
Coverage modelValue propositionBusiness rulesSales modelPricingSales Support modelCustomer Support ModelBudget
StrategyGoalsTarget MarketProductCompetitionChannels
• Roles• Alignment
ExecutionMedia CampaignCommunicationIncentivesEducation Outsourcing
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Is Your Buyer Package up to Snuff?Is Your Buyer Package up to Snuff?
Marketing materialsLocalized website and URLs – CLAIM YOUR NAMEPrice listsOutline of your marketing campaign – Demand CreationProduct samples – Packaging (LOCALIZED)MDF funds and campaignsIn-store merchandisingProspect & customer correspondenceSales training for their personnelSales supportEnd user trainingEnd user support
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Key Points That Can Make a DifferenceKey Points That Can Make a Difference
Select your channel partners with careDevelop a mutual agreed performance plan that is measureableHave realistic expectationsTop management commitmentFocus, Focus, FocusLong Term ViewClear understanding of end-user targets and their alignment with channel partnersDevelop comprehensive business rules for managing program processes
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Key Points That Can Make a DifferenceKey Points That Can Make a Difference
Take inventory of your partners• Does the 80/20 rule apply?• Build profiles based on successful partners• Align internal resources based on contribution
Invest in your partners• Marketing• Training• Support• Web
Use the Internet to enhance partner salesReview your channel strategy yearly
• Identifies potential destructive channel conflict• Tune channel support programs
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Common Exporter Mistake #10Common Exporter Mistake #10
Ignoring Your Ignoring Your International International
Markets When Markets When the US Market the US Market is Doing Well.is Doing Well.
Lost MarketOpportunity
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QuestionsQuestions
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CXOCXOAdvisory Group
Stephen DavisStephen Davis
Phone: (508) 528-7571Email: [email protected]: www.cxoadvisorygroup.comLinkedin: www.linkedin.com/in/stephendavisTwitter: twitter.com/stephendaviscxo
Interim COO/VP Sales & Marketing | Business Consultant | Sales Channel and Business Development Expert | Author & Speaker
Contact Information:
“Partnering With Clients to Drive Sustainable Profitable Growth”
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The CXO Advisory GroupThe CXO Advisory Group
CXO Advisory Group is a strategic operations advisory and management firm comprised of proven C-level executives with both breadth and depth of experience.
CXO Advisory Group Team members have achieved success in positions ranging from: President/CEO to COO, and VPs of Sales, Marketing, Corporate Development and Human Resources.
Has proven success in business development and in building US sales and distribution channels
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How Can CXO Help You?How Can CXO Help You?
Business Strategy Services• Audit business practices and organization• Evaluate product and pricing strategies• Evaluate effectiveness of sales channel• Assess effectiveness of existing sales and marketing
programsMarket Entry Program
• Analyze competitive landscape• Market launch strategy and plan• Channel strategy and programs• Establish sales channels• Generate sales and manage relationships• Identify and develop strategic partnerships
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How Can CXO Help You?How Can CXO Help You?
Sales Channel Management• Review and revise sales channel strategies• Channel partner identification, prospecting and recruitment• Eliminate channel conflict• Channel contract development and negotiation
Interim Management Resources• Interim CEO, COO, CMO, CSO• Interim VP of Sales and Marketing• Consultant on staff• Launch team coaches
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How Can CXO Help You?How Can CXO Help You?
Venture Advisory Services• Fine tune operations, business strategy and market entry• Assist with due diligence• Strategic business assessment of portfolio companies
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CXOCXOAdvisory Group
Stephen DavisStephen DavisInterim COO/VP Sales & Marketing | Business Consultant | Sales Channel and Business Development Expert | Author & Speaker
Contact Information:
“Partnering With Clients to Drive Sustainable Profitable Growth”
Phone: (508) 528-7571Email: [email protected]: www.cxoadvisorygroup.comLinkedin: www.linkedin.com/in/stephendavisTwitter: twitter.com/stephendaviscxo