Companies today face fast-changing customer needs and competitive dynamics. To achieve sustainable growth, it is essential to align your go-to-market strategy with the best opportunities in each market. Propositions are becoming more localised and personalised, making it critical to understand the market you are targeting and adapt your approach. A one-size-fits-all strategy is no longer enough. Businesses that take the time to understand the specifics of each market will be better placed to achieve sustainable growth.
Understand the Local Market
The first step in aligning your go-to-market strategy is to build a deep understanding of the market you want to target. This means looking beyond headline figures like market size and growth rate.
You need to assess customer needs, preferences, and pain points. What do buyers in this market value most? Are there unmet needs that your proposition can address? Understanding these factors will help you shape an offer that resonates.
It is also important to analyse the competitive landscape. Who are the main players, and what are their strengths and weaknesses? Are there established local brands with strong customer loyalty, or is the market more fragmented?
Reviewing the regulatory environment is another key step. Some markets have strict rules that can impact how you sell, what you can offer, or even how you price your products.
A good example of this is Netflix’s international expansion. Netflix succeeded because the company invested in understanding local content preferences and regulatory requirements. This allowed them to tailor their content library and comply with local rules, which helped them win over new customers.
Tailor Your Go-To-Market Approach
Once you have a clear understanding of the market, you need to adapt your go-to-market approach. This could mean changing your sales channels, adjusting your messaging, or even rethinking your commercial model. Local expectations can differ widely, so it is important to reflect these in your strategy. For example, the imagery and language used in marketing materials should feel familiar and relevant to local buyers. The price point and payment terms may also need to be adjusted to match local purchasing power and norms.
McDonald’s is a good example of a company that tailors its approach to each market. The company customises its menu and marketing campaigns to reflect local tastes and cultural norms. This has helped McDonald’s build strong connections with customers in diverse markets around the world.
In B2B markets, similar adjustments can make a big difference. Adapting your proposition and go-to-market plan to fit local realities will improve your chances of success.
Assess Brand Strength and Choose the Right Route to Market
Your brand’s reputation in the target market will influence your route to market. If you have a strong brand, you may be able to sell directly to customers. If your brand is less well known, it may make sense to work with local partners who already have established relationships. Building trust and credibility is essential, especially in markets where buyers are cautious about working with new suppliers.
Salesforce is a good example of a company that has used local partnerships to enter new markets. The company built relationships with local firms before establishing a direct presence. This helped Salesforce understand local customer needs and build credibility, paving the way for long-term growth.
Choosing the right route to market is a strategic decision that should be based on a clear understanding of your brand’s position and the local business environment.
B2B Is Not Exempt
It is a mistake to think that these principles only apply to consumer markets. In B2B, procurement processes can differ widely between countries and industries. These processes are often shaped by regulation, industry standards, or local business culture. Purchasing criteria may prioritise factors like sustainability, compliance, or supplier reputation. For example, in the construction sector, French buyers often prefer to work with French suppliers, and material preferences can vary by region. These differences can have a direct impact on your ability to win business.
End customer behaviour may also be different. The way products are used, the decision-making process, and the importance of after-sales support can all vary. Companies that take the time to understand these differences will be better placed to tailor their proposition and sales approach. Ignoring these factors can lead to missed opportunities and wasted resources.
Summary: Aligning for Sustainable Growth
Aligning your go-to-market strategy with growth opportunities is critical for success. By understanding your target market, adapting your approach, and considering local dynamics, you can improve your chances of achieving sustainable growth. The most successful companies are those that take the time to get these basics right.
If you need support with any aspect of aligning your go-to-market strategy with growth opportunities, White Space Strategy is here to help. We specialise in market entry strategy, opportunity identification, competitor analysis, and more. Contact us to discuss how we can support your next move.