Back Door Routes to New Markets
Time, energy and passion have led you to release a new technology product or service. You couldn’t be prouder as you send this prodigal-technological baby out in to the world.
One problem, it seems to be toddling. You’d envisaged your perfect solution racing out the door but your vision shows little sign of becoming a reality. Your B2B and B2C technology sales and marketing activities haven’t had the impact you’d hoped. The usual markets seem to be flat. You need your product or service to thrive not just to reach a small number.
So, what positive actions can you take? The answer is simple and powerful.
You must seek out a back door to new markets.
This takes effort. Tough markets won’t present themselves and deliver you opportunities so you must take the initiative and work on selling to people and organisations who may not have realised that they need your assistance.
Sales teams in technology sector companies must focus on these areas:
- White space.
- Creating winners.
This is the area of opportunities in the market that you can meet the demands of, immediately. Define your white space accurately because it’s an essential tool. Strive to offer services or products that aren’t currently in operation.
White space is vital to revenue growth.
- What is your USP? Unique selling point. What will attract new markets?
- What is your UVP, the unique value proposition? Who really needs your product or service and why should they invest?
You must be confident about the USP and UVP to ably deliver information to potential B2B and B2C technology sector clients and stakeholders. Draw them to your solution to their problem. Bored, puzzled or luke-warm listeners won’t invest. Would you?
Learn who the key decision makers are and what they care about. Are they revenue oriented, aiming for substantial growth or do they perceive themselves as exceptional service providers? A probable choice of contact is the CEO but who else is involved in decision making processes? They’re important because they need to be won over for you to break in to the tough market.
A far too common error which B2B technology sales teams make is to approach the IT department about white space. This may seem logical but it’s outside of their role to make decisions. New markets form no part of their workload so you can talk, they can listen but that’s it. You must seek the real decisionmakers or waste energy.
Let your potential purchaser know that there is no room for company politics in the decision. The result should be a win-win for all parties.
B2B technology sales requires focus, especially when breaking in to tough markets. You don’t need to act alone. Thames Valley Business Advisor’s member David Orren and his team are perfectly placed to guide SME’s. Using B2B technology sales specialists who have the experience and knowledge to work with you towards positive results is a wise course of action.