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Like many industries, the IT managed service industry is ripe with opportunities for growth on a global scale. However, breaking into new markets and establishing a strong presence requires more than just a stellar product or service. It needs a consultative selling approach that prioritises understanding client needs, building trust, and offering tailored solutions. Through my learnings and experiences over the the past decade in the industry, here are some you may want to consider if you are looking to expand your business globally.
1. Understand Cultural Nuances and Market Dynamics
Is this a surprise to you? Let’s face it, we all kind of know this...Yet we need to first understand our company’s priorities and what entering new markets mean from a strategic perspective and long term growth: investments, research, analysis, planning, etc...
First, and before entering a new market, it's crucial to have a deep understanding of the cultural nuances and market dynamics unique to that region, and, within the different countries too. Different countries have varying business etiquettes, decision-making processes, and customer expectations. A challenging yet very powerful way to move forward is to conduct thorough market research, identify these differences and adjust your sales approach accordingly. For instance, while North American clients may value speed and efficiency, European clients might prioritise long-term relationships and detailed consultations. Do you think that your one best-practice based approach will work with both regions in the same way? Maybe something to reflect on....
In Short: Considering a tailored approach to fit cultural preferences can significantly enhance your credibility and success rate as you enter new markets.
2. Build Strong Relationships and Trust
In consultative selling, relationships are paramount. Clients need to feel that you are not just there to sell them a product, but to genuinely help solve their problems. This is particularly important when dealing with IT managed services, as these solutions often form the backbone of a client's operations.
Start with “why”. Invest time in building strong, trustworthy relationships with potential clients and partners. Engage in regular, meaningful conversations, listen actively to their pain points, and offer insights that demonstrate your expertise and commitment to their success.
In Short: Trust is the foundation upon which successful global expansions are built.
3. Customise Solutions and Demonstrate ROI
One-size-fits-all solutions rarely work in the diverse landscape of global markets. I know, it’s not easy. It is rather simple once you understand what you need. But, yes, it is not the easiest route. Is it a beneficial one? will it bring you to the next level and allow you to become the industry leader you re aiming at? You tell me...
When we talk about consultative selling approach, we mean an approach which involves customising your offerings to meet the specific needs of each client. Yes, you may well have a standard initial package which can be advertised and promoted everywhere. However, you need also the variations of that standard to really connect with your different audiences:
Conduct thorough assessments to understand their current IT infrastructure, challenges, and goals.
Use this information to develop tailored proposals that highlight how your services can address their unique needs.
Additionally, emphasize the return on investment (ROI) they can expect. Providing concrete data and case studies that showcase the benefits and cost savings your services have delivered to similar clients can be a powerful persuader.
In Short: Customising offerings to meet specific client needs through consultative selling involves conducting thorough assessments, developing tailored proposals, and showcasing ROI to connect with different audiences effectively
4. Leverage Local Partnerships
Global System Integrators (GSI) are great ways to work internationally and get understanding of different markets you may not be otherwise involved in. Partnering with local SIs and firms can provide valuable insights and enhance your credibility in new markets. Local partners can help navigate regulatory landscapes, cultural intricacies, and establish initial contacts. They can also provide on-the-ground support and services, ensuring a seamless experience for your clients.
In Short: Forming strategic alliances with local IT companies, consultants, or industry associations can accelerate your market entry and growth.
5. Invest in Continuous Learning and Adaptation
The IT managed service industry is constantly evolving, with new technologies, trends, and challenges emerging regularly. To stay competitive and relevant, invest in continuous learning and adaptation. Stay abreast of global industry developments, attend international conferences, and engage in professional networks. Encourage your sales team to develop cross-cultural competencies and keep refining their consultative selling skills.
In short: By fostering a culture of continuous improvement, your organisation will be better equipped to meet the diverse needs of global clients.
In conclusion
Expanding your IT managed service business globally through consultative selling requires a strategic, client-centric approach. By understanding cultural nuances, building trust, customising solutions, leveraging local partnerships, and investing in continuous learning, you can position your organisation for sustained growth and success in the global marketplace.
If you have few more minutes, I would recommend reading further articles like "The Power of Consultative Selling" by Bill Lee (https://lbmjournal.com/the-power-of-consultative-selling/) or “How to Sell in a Global Market” by Bilel Tlili (https://www.linkedin.com/pulse/how-sell-global-market-bilel-tlili/), both providing insights and strategies on how consultative selling can be a powerful tool for businesses looking to expand globally.
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