18th April 2017
“The grass is always greener on the other side.” - Erme Bombeck
There are divided opinions on this famous quote but it's something that comes up at board meetings across the world.
Companies use a 'land and expand' strategy as they attempt to expand their business and increase their brand presence in a new region. However, the grass isn't always greener and there's some steps you should consider before going down this road.
Let's use an American Software as a Service (SaaS) company as an example of a business that wants to expand into Europe. There's some very valuable considerations I would highly recommend they research before landing on potentially 'greener grass'.
- Sell from your current US location to test the market. Gaining a few European customers would provide valuable insights on how to do business not just in the UK but through-out Europe.
- Market research: Is there enough of a market for your services in that location? Have you got them in a database or CRM to set a strategy for sales hunting.
- Resellers or Partners: Having a partner in Europe promoting your services can be one of the easiest ways to expand. Resellers are similar but you'll risk losing some brand control so you'll need to pick wisely.
- Outsource first: Using a European based sales team means you don't need an office location, nor do you need to worry about laws and HR headaches. Once you gain customers (and revenue!) move to phase 2 where you consider opening an office.
If you're interested in expanding to new markets we'd love to chat, worst case scenario from a discovery call you'll get to pick up tips on how we built sales teams in London, Brazil, Australia and Hong Kong!
Thanks for reading and feel free to share.