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4 critical factors when entering the U.S. B2B technology markets - a great read for all overseas companies not yet familiar with the U.S. business environment and culture
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(C) 2013 Takehill Partners LLC
80% of U.S. Market Entry Projects Fail*
* McKinsey Quarterly
...why is that?
(C) 2013 Takehill Partners LLC
In B2B Markets, is it because:
- Lack of prior success - U.S. Accounting
- Regulations - Taxing
- Legal agreements - Product certifications
- Distributor or reseller selection - Office location
- Local employee selection - Supply chain logistics
- Investor funding - Customs and tariffs
- IP rights and agreements - Incompetent consultants
- Language skills - Advertising
- 100+ other details...???
(C) 2013 Takehill Partners LLC
NO!
(C) 2013 Takehill Partners LLC
It is because of the Four Cs !
....that is, 4 easiest ways to FAIL in your U.S. market entry.
(C) 2013 Takehill Partners LLC
1
2
3
Lack of CLARITY about market position
and target customer
Inability to COMMUNICATE compelling customer value and differentiation
4
Lack of interesting and educational CONTENT to enable lead generation
Missing CREDIBILITY due to not having presence in the USA
(C) 2013 Takehill Partners LLC
Let’s Walk Them Through
One by One:
(C) 2013 Takehill Partners LLC
1 Lack of CLARITY about market position
and target customer
CLARITY
(C) 2013 Takehill Partners LLC
1 CLARITY
Remember this? Where are you on the Cycle?
Clarity required with: 1. Problem vs. Solution 2. Performance vs. ”old method” 3. Customer Value & Benefits 4. Features/Functionalities
Clarity required with: 1. Differentiation /Competitive advantage 2. Quality 3. Ease-of-use, User Experience 4. Customer Value & Benefits 5. Features/Functionalities
About finding the first reference client at market entry...
So what? Ask: does my marketing match the adoption cycle, RE: nature of competition and customer behavior?
(C) 2013 Takehill Partners LLC
2 Inability to COMMUNICATE compelling customer value and/or differentiation
COMMUNICATION
(C) 2013 Takehill Partners LLC
2
B2B Communication USA (Strengths) EUROPE (To improve)
Marketing Claims: Bold: ”This is the #1 leading solution, because...(prove us wrong!)”
Modest: ”Here are the facts, and it works.”
Bragging: Required Considered Unprofessional
Strategic Marketing: Same strategic marketing ”Mantra” for all Marketing Dept disconnect as ”island”
Social Media & SEO: TOP Priority MEDIUM priority
Competitive Advantage: Clearly communicated (front page) Communicated (last page)
Marketing Comm Budget Investment ! Expense !
Customer Service The customer is KING. We serve them when we have time...
COMMUNICATION
It’s not only about technology. It is also about the CULTURE. Adjust your marketing communication accordingly.
(C) 2013 Takehill Partners LLC
3 Lack of interesting and educational CONTENT to enable Lead Generation
CONTENT
QUESTION: At which point (%) of the purchasing process
cycle, does B2B customer contact vendors, to seek out information to support his purchase decision?
1997
2013
Customer Due
Diligence Begins
Customer Purchase Decision Customer
contacts vendor
Customer contacts vendor
27%
57%*
* Source: CEB survey of B2B customer purchasing behavior 2012
Customer’s own internal & online analysis
Customer’s own internal & online analysis
Customer analysis begins with vendors
Customer analysis begins with vendors
(C) 2013 Takehill Partners LLC
3 CONTENT
OK, 57% ... so, what does it mean?
(C) 2013 Takehill Partners LLC
3 CONTENT
It means, that:
IF you do NOT have interesting & educational content available online,
you have already lost to your competition!
(C) 2013 Takehill Partners LLC
3
Website and Data Sheets (minimum requirements)
Blog, Tweets, Facebook, E-mail news (updated weekly)
Customer Case Stories (convincing)
Whitepapers & Solution docs(educational)
Videos (facts & fun)
CONTENT
(C) 2013 Takehill Partners LLC
4 Missing CREDIBILITY due to not having presence in the USA
CREDIBILITY
(C) 2013 Takehill Partners LLC
4 Steps to B2B Trustworthiness
No U.S. address
Virtual U.S. address
Physical U.S. office
Bad grammar
OK English
Engaging Industry
Language
No dedicated contact person
in the USA
U.S. consultant
w/your business card
Your own U.S. employee(s)
No customer case stories
European case stories
U.S. Customer
case stories
Unhappy customers in Soc- media
Happy Quiet Customers
Happy Customers in
Soc-media
CREDIBILITY
= You are so NOT Ready = This is Your First Step = You Are Winning Business!
Presence:
Marketing language:
U.S. contacts:
Testimonials:
Word-of-mouth:
(C) 2013 Takehill Partners LLC
Let’s repeat, 4 easiest ways to
SUCCEED in Your U.S. market entry:
(C) 2013 Takehill Partners LLC
1
2
3
Maximize CLARITY about your market position and target customer
Improve COMMUNICATION about customer value and differentiation
4
Create interesting and educational CONTENT to enable lead generation
Secure CREDIBILITY by having physical or virtual presence in the USA
(C) 2013 Takehill Partners LLC
Thank You and
Good Luck*!
* Yes, luck always helps. If you are not sure, contact Takehill Partners: [email protected] or +1-703-504-8157
© Takehill Partners LLC, McLean, VA 22101, USA, - Takehill Partners provides U.S. market entry and business development services to
technology companies worldwide, focusing on B2B solutions, mobile platforms, enterprise software and Health IT markets.