Do you have a marketing plan and know how to reach your potential customers?
Understanding your business and product characteristics, your target markets abroad, your industry trends and the competition, will help you plan your go-to-market, budget your B2B marketing efforts, and reach your prospective customers effectively, while also reducing time-to-market.
Creating a solid marketing strategy and marketing plan require that you pinpoint your target customers while also defining your value proposition and unique selling points. Accordingly, you can determine your international marketing objectives and sales targets, establish a go-to-market plan and a reasonable budget.
An international marketing strategy and a marketing plan include:
- Researching and assessing the market’s characteristics, size, potential and industry trends
- Mapping out key market players including industry leaders, consultants, competitors and distributors
- Pinpointing relevant regions and market segments or verticals with highest chance of success
- Establishing “buyer persona” profiles including prospective customer attributes
- Determining marketing goals, including revenues, profits, market share and customer acquisition
- Preparing a ‘go-to-market’ strategy, specifying how you will meet your marketing and sales goals
- Defining company positioning and USP (unique selling proposition)
- Defining exactly your product or service
- Setting up pricing models
- Defining sales channels and assigning distributors
- Defining marketing and communication channels, and marketing tools
- Incorporating digital channels, tools and social media in the marketing plan
- Step-by-step work plan with action items and target dates
- Establishing a marketing budget
- Base decisions on facts and professional analysis, not on gut feelings
- Focus on target customers in a specific market segment to achieve successful, cost-effective marketing, and reduce time-to-market
- Ability to compete with large international companies that have vast resources
- Ability to compete with companies that operate locally in your target markets, and that sell products tailored to those local markets at relatively low prices
- Establish written marketing content, highlighting your product’s benefits and company’s positioning and synchronize marketing messages with your target customer needs
- Get a work plan in place, ready for immediate implementation
- Budget your marketing expenses, matching them to your marketing goals to avoid wasted resources.