Business Challenge – New Market Development Feasibility:
A leading UK network infrastructure provider was seeking assistance for a new market development feasibility for expansion into the Australian market after having established an Asia-Pacific presence in Hong Kong and Singapore. The challenge was to assess the new market entry plan of setting up an Australian Head Office in Melbourne or Sydney.
The core requirement was to consider investing and establish a new Australian sales and marketing team with a target of selling into the Service Provider market and enterprise business. An initial requirement for new business marketing lead generation, as well as strategic engagement in the high-value enterprise market segment was expressed as part of the business plan
Over the initial 12-month period, hire up to four resources: Senior Business Development Manager, Account Manager, and Inside Sales representation which required local resourcing and budget to approve.
Alchemise Consulting was approached with the company’s requirements and goals and assessed the NEW MARKET DEVELOPMENT feasibility and GO-TO-MARKET validation. Our strategic sales consulting team with our associate talent acquisition expertise worked on delivering this short sharp consulting exercise and achieved a success outcome through our recommendations with local market knowledge.
From our analysis and market research conducted over 2 weeks, we made a number of recommendations for the company to address in order to have the most effective and successful entry into the competitive Australian market, in the areas of:
- Talent acquisition strategy – We offered an alternative solution of services that would reduce costs by up to 40% in Year 1.
- Sales compensation structure – The UK model required adaptation to suit and be competitive in the local market, as the proposed package would not attract the right resources.
- Go-to-market strategy – Our analysis of the ICT and Telecoms market was able to guide their market positioning and sales engagement for stronger revenue opportunities. The current Gross Profit and viability of the ROI would be difficult to achieve given the lack of marketing investment and the existing competitors’ strong relationships and brand presence in the market.
As a result of the Alchemise Consulting engagement, this leading UK networking company recognised that there were a number of challenges and barriers to a successful entry into the Australia market, and that their business plan required revisions.
Our validation helped save on significant setup costs and recruiting fees, and highlight that they had under-budgeted by 25% for this venture. In this case, an extended preparation process would ultimately prove more successful in the longer-term, as the entry strategy simply was not immediately feasible.
If you are exploring a new market entry, contact Alchemise Consulting for an obligation-free discussion.
We deliver real client value and outcome based business growth solutions using cost effective strategies with a low risk partnership approach.Contact Us