Business Diversification – Grow in New Markets
Statistics prove companies that sell to a variety of customers and markets enjoy more predictable sales, profits, employment, and higher employee retention & satisfaction.
- Does your company ride the Market Rollercoaster?
- Is your company as diversified as your Investment Portfolio?
- Do your ride your Customers’ Rollercoaster?
Build a Market Development Process
- Identify “best fit” markets
- Classify barriers to entry
- Increase channels used such as Reps, Distributors, and Online selling
- Expand geography – achieve nationwide and international export sales
- Diversify industries served
- Take the guesswork out of new market entry
- Develop a new market pipeline
Build New Market Entry Pipeline
- Prioritize market entry based on ROI
- Market Research identifies “best fit” markets
- Grow using a path of least resistance
- Benefit from synergies of action. For example, a new Sales Rep
expands your sales into a new region. Customer in new region
introduces your firm to a division in a new industry. Each action generates incremental sales opportunities
- Learn and apply best practices to overcome barriers to entry
- Learn and apply best practices to establish your company’s visibility and reputation in new markets
Deliverables – Business Diversification
- Market pipeline
- “Best fit” market profile
- Research to prioritize “next best” market
- New market entry campaigns
- Market Development process
- Custom metrics & KPIs (Key Performance Indicators)
What’s Next? Implement