Presentation on theme: "Success Factors for iNoema Business Development selling in Germany."— Presentation transcript:
Success Factors for iNoema Business Development selling in Germany
- 2 - Typical German! Prezel, Beer, Oktoberfest but also Attractive markets Automotive Suppliers Maschine Building Chemical Industry Medical Technology Drivers: Innovation Increasing competition – also from abroad
- 3 - Was wir noch für Sie tun können Which ways lead to Germany? a)Market entry by chance b)Inconsistent market tapping c)Systematic market development All 3 ways can be successful. The problem is not the market entry but establishment on the market. All 3 ways can be successful. The problem is not the market entry but establishment on the market.
- 4 - Was wir noch für Sie tun können 5 misjudgements about the German market My product is good, the price is attactive, I‘m going for the German market. An address list of potential German customers guarantees market entry. The more products I offer in Germany, the higher the chance, that one of them will be successful. My company is too small, I‘ve got no chance on the German market. Big German companies are the best.
- 5 - Was wir noch für Sie tun können Misjudgement 1: My product is good, the price is attractive, I‘m going for the German market. The challenge: High competition pressure on the German market Many similar products on the market Potential customers cannot be reached Customers can be reached, but they cannot recognize any product advantage The approach: Careful research of the German market Understand the market and the customer needs Make different scenarios how you can reach customers Formulate a solid sales argumentation
- 6 - Was wir noch für Sie tun können Misjudgement 2 : An address list of potential German customers guarantees market entry The approach: Qualify the customer list: - reduce complexity by making clusters - set priorities - inform yourself on the webpage of the potential customer Evaluate different ways of using the potential customers list The customer list is a component, not a solution: integrate it into a plan! The challenge: There are many companies in Germany, but not everyone is a potential customer
- 7 - Was wir noch für Sie tun können Misjudgement 3: The more products I offer in Germany, the higher the chance, that one of them will be successful The challenge: Balance between broad positioning and focussing. The approach: Don‘t try to be in too many markets at the same time with a small team – you risk to be nowhere. Research market and competition and set a good focus. With a clear product and market mix you can save time and money.
- 8 - Was wir noch für Sie tun können Misjudgement 4: My company is too small, I‘ve got no chance on the German market Misjudgement 4: My company is too small, I‘ve got no chance on the German market The challenge: Find your desired customers on the German market who want to work with a small-size Slovenian company. Fight the battles which you can win: some (big) German companies work with big companies only - don‘t waste time and money trying to get in there There are enough German companies which do not have regulations concerning the size of their suppliers: show them the benefits of your small company There are enough German companies who prefer smaller companies: play your trump cards The approach:
- 9 - Was wir noch für Sie tun können Misjudgement 5: Big customers in Germany are the best If you have a realistic chance to win big customers, address them. Big customers are not always profitable - check costs and benefits. Search for ways to generate new orders at existing customers (innovations, improvements, etc.) The challenge: Getting large scale orders which repeat themselves. The approach:
- 10 - Was wir noch für Sie tun können How do Slovenien companies address the German market? Sales representatives Direct sales from Slovenia [Subsidiary in Germany]
- 11 - Was wir noch für Sie tun können Adressing the German market with a sales representative Sales Representatives Some advantages: Good start at low risk Existing contacts of the sales representative can be used Manageable investment of time and money Operating costs are low Ideally quick results Some disadvantages: You don‘t really get to know the German market High dependence on the motivation of the representative to sell your products Often restricted market exploitation With a sales representative you enter the market but you don‘t establish yourself
- 12 - Was wir noch für Sie tun können Practical tips for the work with representatives Check the readiness of the representative to win new customers previously. Provide the representative with excellent material about your company and your products. Keep in touch with your representative.
- 13 - Was wir noch für Sie tun können Addressing the German market directly from Slovenia Direct Sales Some advantages: You don‘t diminish your margins by paying provision You have freedom to make own decisions Ideally you gather experience on the German market You can selectively make use of support in Germany – according to your special needs Some disadvantages: Market entry / market establishment can take a long time You need financial ressources You need to remain consistent in order to be successful
- 14 - Was wir noch für Sie tun können Practical tips for direct selling from Slovenia Analyse every sales phase individually and define suitable measures. Analyse what was successful and what not. Reflect why. If needed, make use of local support. (external sales, „door openers“, market experts, etc.)
- 15 - Was wir noch für Sie tun können Summary Analysis of the German market Research of specific demands of key customer groups Development of a suitable sales concept Use of a well-investigated argumentation Perseverence The following success factors for the German market become apparent