When you want to gain market share in a new region or vertical, you need a market penetration strategy, which can help you answer questions like:
- Who are your buyers? What do you know about them?
- Who is your competition? What is their market position?
- How can you solve your buyers’ problems? Why are you their best option?
- How will your sales and marketing team enter the market and capture market share?
- Once you’ve answered these questions, you need to roll up your sleeves and get to work. In our decades of helping companies enter new markets and increase market share, we have identified the following market penetration tactics:
To understand your buyers and your competition, consider investing in:
- Professional competitive analysis services
- Subscription to online company research portals
- Search engine analysis and online marketing firms
- Independent company market research reports
To understand how to best enter and capture the market, consider investing in:
- Online marketing (website, SEO, blogging, social media, webinars, videos, e-mail)
- Lead generation, lead nurturing and CRM software and training
- Press releases, media events and tradeshows
- Online, print and media advertising
- Pay-per-click (search engine) advertising
- Sales Outsourcing as a Market Penetration Strategy
Sales outsourcing can also help you penetrate new markets quickly and successfully
Your success in penetrating new markets will depend on your commitment to both the strategic and the tactical elements of the project. Sales outsourcing can shorten the time it takes to implement your market penetration strategy, which means you can rapidly grow your business.
When you outsource your salesforce to ALT TAB, you gain an experienced team of sales executives who are familiar with your target markets and the sales nuances associated with them. We can scale the team to meet your sales objectives, and minimal training will be necessary. We take responsibility for quickly building pipeline and generating revenue from those markets which you are targeting at, and we will provide detailed reporting that gives you the information you need to measure market acceptance and the effectiveness of our messaging.