Market-Entry Archives

Exhibitor Tips, Market-Entry, Participant Tips, Pavilions, Return on Investment

Evaluating Trade Show Relevance

Bill Kenney / July 24, 2024

In the bustling world of commerce, trade shows stand as beacons of opportunity, offering businesses a platform to showcase their offerings, forge connections, and stay abreast of industry trends. However, not all trade shows are created equal, and determining their relevance to your business is paramount to making informed decisions about participation. So, how do you evaluate trade show relevance effectively? Let’s embark on this journey together and navigate the maze of evaluating trade show relevance. 1. Define Your Objectives Before delving into the evaluation process, it’s essential to define your objectives clearly. What are you hoping to achieve by participating in a trade show? Are you looking to generate leads, increase brand awareness, launch a new product, or network with industry professionals? Understanding your goals will serve as a compass in guiding your evaluation criteria and ensuring that the trade show aligns with your business objectives. 2. Research the Industry Focus The first step in evaluating trade show relevance is to assess the industry focus of the event. Consider whether the trade show caters to your specific industry, niche, or target market. Look for trade shows that attract attendees, exhibitors, and speakers who are relevant to your business. Evaluate the exhibitor list, seminar topics, and keynote speakers to gauge the alignment with your industry and identify potential networking opportunities. 3. Assess Attendee Profile Examine the profile of past and expected attendees to determine whether they match your target customer demographic. Consider factors such as job titles, industries, company sizes, and geographic locations. Look for trade shows that attract a diverse yet relevant audience that is likely to be interested in your products or services. Participating in trade shows with a high concentration of your target audience increases the likelihood of generating quality leads and fostering meaningful connections. 4. Evaluate Exhibitor Opportunities Evaluate the opportunities available to exhibitors, including booth options, sponsorship packages, speaking opportunities, and networking events. Consider whether the trade show offers opportunities for visibility, engagement, and lead generation that align with your objectives and budget. Look for value-added features such as matchmaking services, lead retrieval tools, and promotional opportunities to maximize your return on investment (ROI). 5. Consider Geographic Reach Assess the geographic reach of the trade show and its relevance to your target market. Consider whether the trade show attracts attendees and exhibitors from local, regional, national, or international markets. If your business operates primarily within a specific geographic region, prioritize trade shows that cater to that market to maximize your exposure and opportunities for local business development. Conversely, if you’re looking to expand into new markets, consider participating in trade shows with a broader geographic reach to access new opportunities and audiences. 6. Review Past Performance One of the most reliable indicators of trade show relevance is its past performance. Research the history of the trade show, including attendance figures, exhibitor feedback, and post-event analysis. Evaluate factors such as foot traffic, lead generation opportunities, quality of networking, and overall attendee satisfaction. Positive testimonials and success stories from past exhibitors can provide valuable insights into the effectiveness of the trade show in achieving business objectives. 7. Assess Cost vs. Benefits Evaluate the costs associated with participating in the trade show and weigh them against the potential benefits. Consider factors such as booth rental fees, travel expenses, promotional materials, staffing costs, and ancillary expenses. Calculate the potential return on investment (ROI) based on your objectives and projected outcomes. While larger trade shows may offer greater visibility and networking opportunities, they often come with higher costs. Consider your budget constraints and the expected benefits to ensure that the trade show offers a favorable cost-benefit ratio. 8. Seek Feedback and Recommendations Don’t hesitate to seek feedback and recommendations from industry peers, mentors, or professional associations. Reach out to past exhibitors and attendees to gather insights into their experiences and assess the relevance of the trade show to your business. Additionally, leverage online resources such as trade show directories, forums, and social media groups to gather insights and recommendations from fellow exhibitors and industry experts. Evaluating trade show relevance requires a comprehensive assessment of industry focus, attendee profile, exhibitor opportunities, geographic reach, past performance, cost vs. benefits, and feedback from peers and industry experts. By conducting thorough research and analysis, you can identify trade shows that offer the best opportunities for achieving your business objectives and maximizing your ROI. Remember, the key to success lies in choosing trade shows that align closely with your goals, target audience, and budget, ensuring that your participation yields tangible results and contributes to your overall business growth. Read about choosing the right trade show for your business. — About MEET MEET helps international B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.

Exhibitor Tips, Market-Entry, Return on Investment

How to Research Your Target Customer

Bill Kenney / July 23, 2024

In the ever-evolving landscape of business, understanding your target customer is akin to wielding a compass in uncharted waters—it guides your decisions, shapes your strategies, and ultimately leads you to success. However, the process of researching your target customer goes beyond mere demographics; it delves into the psyche, preferences, and behaviors of your audience. So, how do you embark on this voyage of discovery? Let’s navigate the waters of how to research your target customer together. 1. Define Your Ideal Customer Profile Before diving into the depths of customer research, it’s essential to establish a clear picture of your ideal customer. Define the characteristics, traits, and attributes of the individuals or businesses that are most likely to benefit from your products or services. Consider factors such as age, gender, income level, occupation, geographic location, interests, values, and pain points. Crafting an ideal customer profile provides a blueprint for your research efforts and ensures that you’re targeting the right audience. 2. Utilize Market Segmentation Segmenting your target market into distinct groups based on shared characteristics allows for more targeted and effective customer research. Explore different segmentation criteria such as demographic, psychographic, behavioral, and geographic segmentation. By understanding the unique needs, preferences, and behaviors of each segment, you can tailor your marketing strategies and messages to resonate with specific audience segments more effectively. 3. Gather Data from Multiple Sources Customer research involves gathering data from a variety of sources to gain a comprehensive understanding of your target audience. Utilize both quantitative and qualitative research methods to collect data and insights. Quantitative methods, such as surveys, polls, and analytics tools, provide statistical data on customer demographics, preferences, and behavior patterns. Qualitative methods, such as interviews, focus groups, and social media listening, offer deeper insights into customer attitudes, motivations, and perceptions. 4. Analyze Existing Customer Data Tap into the wealth of data available from your existing customer base to uncover valuable insights. Analyze customer transaction histories, interactions, feedback, and demographic information to identify patterns, trends, and preferences. Look for commonalities among your most loyal customers and high-value clients to refine your ideal customer profile further. Customer relationship management (CRM) systems and analytics platforms can help streamline the process of data analysis and interpretation. 5. Conduct Market Research Beyond your existing customer base, conduct market research to gain insights into broader industry trends, competitor strategies, and market dynamics. Explore secondary sources such as industry reports, market studies, academic research, and trade publications to stay informed about the latest developments in your industry. Additionally, consider conducting primary research through surveys, interviews, and focus groups to gather firsthand insights from potential customers and industry experts. 6. Utilize Online Tools and Resources Harness the power of online tools and resources to streamline your customer research efforts. Leverage market research tools, audience analytics platforms, and social media monitoring tools to gather real-time data on customer behavior, sentiment, and engagement. Explore online databases, consumer panels, and demographic profiling tools to access demographic data and consumer insights. These digital tools offer valuable resources for conducting comprehensive and cost-effective customer research. 7. Stay Engaged and Adaptive Customer research is an ongoing process that requires continuous engagement and adaptation to evolving market dynamics. Stay attuned to changes in customer preferences, industry trends, and competitive landscape. Monitor customer feedback, social media conversations, and online reviews to identify emerging patterns and address customer needs proactively. Regularly revisit and refine your ideal customer profile based on new insights and data sources to ensure that your marketing strategies remain relevant and effective. Researching your target customer is a foundational step in building a successful business strategy. By defining your ideal customer profile, utilizing market segmentation, gathering data from multiple sources, analyzing existing customer data, conducting market research, leveraging online tools and resources, and staying engaged and adaptive, you can gain invaluable insights into your target audience and tailor your marketing efforts to drive growth and success. Remember, the key to unlocking the hearts and minds of your customers lies in understanding who they are, what they want, and how you can fulfill their needs. Read about choosing the right trade show for your business. — About MEET MEET helps international B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.

Market-Entry, Workshops and Webinars

Scaleup Hiring Strategies with Micah Boster, Nighthawk Advisors

Bill Kenney / July 17, 2024

Bill Kenney: Hi and welcome to the next episode of Belly2Belly. We’re here with our great friend Micah Boster. Welcome, Micah! Our topic today is scaleup hiring strategies. Micah Boster: Hey, how are you doing, Bill? About Nighthawk Advisors Bill Kenney: Great, thanks! Your company, Nighthawk Advisors, has extensive experience working with scaleup companies. Before we dive into scaleup hiring strategies, could you give our audience a brief introduction to Nighthawk Advisors and your work? Micah Boster: Absolutely. I’ve spent most of my career in sales, partnerships, and operations strategy, beginning at Google. About ten years ago, I moved back to New York and worked in early-stage operations at four different NYC startups, gaining valuable insights into what works and what doesn’t. I founded Nighthawk about six or eight months ago in response to the changing business climate. Companies now need to execute better, and startups often struggle with that. At Nighthawk, we examine a company’s business operating system, including goal-setting and resource planning, to help them build a strong foundation. This is crucial for scaling and meeting investor expectations, especially since the days of getting a big check and figuring things out later are over. Bill Kenney: That’s very insightful. Everyone wants to succeed, and having the right foundation is key. Micah Boster: Exactly. Every founder aspires to build something impactful, like Mark Zuckerberg. To do that, they need a solid foundation and the right team. Most Common Scaleup Founder Hiring Mistakes Bill Kenney: We spoke last week, and I was intrigued by your thoughts on effective hiring processes for scale-ups. Where do scaleups typically face challenges when hiring, and what are the common mistakes they make? Micah Boster: Scaleups often face challenges as complexity increases and they start hiring people reactively without a clear plan. Founders may try to hire senior talent to own functions they don’t fully understand, leading to mismatched hires. The pool of senior talent willing to join a startup without founder-level equity often comprises individuals transitioning from big companies or those with less-than-perfect track records. This mismatch can be costly in terms of money, time, and energy, and it can set the company back if resources are already limited. Scaleup Hiring Strategy Best Practices Bill Kenney: That makes sense. How can companies avoid these pitfalls? Micah Boster: First, it’s crucial to clearly define your core needs from the outset. For example, if technology is core, ensure you have a technical co-founder. Once you get past the MVP stage, consider hiring fractional talent—experienced individuals for specific roles and timeframes. This approach is more cost-effective and allows you to bring in expertise without committing to full-time hires. It also gives you time to understand your product-market fit and growth plans before hiring a permanent senior leadership team. Bill Kenney: That’s a smart approach. It reminds me of a company growth model that equates a company’s lifecycle to a person growing from infancy to maturity. Micah Boster: Absolutely. A startup’s needs change as it grows, much like a person’s needs change from infancy to adolescence. Your team and the problems you face will evolve. In the early stages, preserving capital and flexibility is crucial. Later, as you reach more stable stages, you can bring on long-term talent to drive sustained results. The Most Common Attribute of Succesful Scaleup Founders Bill Kenney: It’s essential to have the right experience at each stage to navigate those transitions effectively. Micah Boster: Exactly. The key is humility—knowing your strengths and weaknesses and seeking help where needed. Successful founders are those who recognize their limitations and bring in the right expertise to fill those gaps. Bill Kenney: Thank you so much for your insights, Micah. This has been incredibly valuable. Can we share your contact information with our audience? Micah Boster: Of course. I’d love to hear from your listeners and answer any questions they might have. Summary Highlights for Scaleup Hiring Strategies You might also like Are Your Leadership Team and Key Personnel Ready? About MEET MEET helps B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.

Exhibitor Tips, Market-Entry, Return on Investment

How to Define Trade Show Objectives

Bill Kenney / July 15, 2024

Trade shows serve as bustling marketplaces where businesses can showcase their products, forge connections, and propel their brands to new heights. However, to navigate these dynamic environments effectively, one must set clear objectives. How to define trade show objectives is akin to charting a course before setting sail—it provides direction and purpose and ensures that every action serves a strategic goal. So, how does one go about defining trade show objectives? Let’s explore the steps to setting sail for success. 1. Understand Your Business Goals to Define Trade Show Objectives Before delving into the intricacies of trade show objectives, it’s essential to align them with your broader business goals. Reflect on what you aim to achieve as a company—are you looking to increase sales, expand your market reach, launch a new product, or strengthen brand awareness? Your trade show objectives should complement and support these overarching business goals, serving as a tangible means to propel your company forward. 2. Identify Specific Outcomes Trade show objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). Identify the specific outcomes you hope to achieve by participating in the trade show. Are you aiming to generate a certain number of leads, secure a certain amount of sales, or cultivate partnerships with industry influencers? By quantifying your objectives, you create benchmarks for success and ensure accountability in evaluating your performance post-event. 3. Consider Different Objectives Trade shows offer a multitude of opportunities beyond just sales. Consider various objectives that align with your business goals and target audience. These may include: Tailor your objectives to suit the unique needs and priorities of your business, ensuring that they are both relevant and achievable within the context of the trade show environment. 4. Prioritize Objectives Not all objectives carry equal weight, nor are they equally attainable within the confines of a trade show. Prioritize your objectives based on their importance to your business goals and the resources available. Focus on one or two primary objectives to avoid diluting your efforts and maximize your impact. For example, if your primary goal is to launch a new product, allocate resources towards creating an engaging booth display, organizing product demonstrations, and conducting targeted marketing activities to generate buzz and interest around your offering. 5. Align with Target Audience Consider the demographics, interests, and preferences of the trade show attendees when defining your objectives. Tailor your objectives to resonate with your target audience and address their needs or pain points. For instance, if your target audience comprises tech-savvy millennials, your objectives may include showcasing innovative technology solutions, organizing interactive demos, and leveraging social media platforms to engage with attendees in real-time. 6. Evaluate Success Metrics to Define Trade Show Objectives Establish clear metrics for measuring the success of your trade show objectives. These may include metrics such as the number of leads generated, sales closed, brand impressions, social media engagement, or return on investment (ROI). Define benchmarks or targets for each metric to gauge your performance and identify areas for improvement. Utilize technology such as lead capture software, customer relationship management (CRM) systems, and analytics tools to track and analyze relevant data effectively. To define trade show objectives is a critical step in maximizing the value of your participation and ensuring a return on your investment. By aligning your objectives with your broader business goals, identifying specific outcomes, prioritizing objectives, aligning with your target audience, and establishing clear success metrics, you set the stage for a successful trade show experience. Remember, clarity of purpose breeds confidence, direction, and ultimately, success in the bustling seas of trade show commerce. Read this recent post for more on this topic, Navigating the Trade Show Terrain: Choosing the Right Trade Show for Your Business. About MEET MEET helps international B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.

Market-Entry, Participant Tips, Return on Investment

Navigating the Trade Show Terrain: Choosing the Right Trade Show for Your Business

Bill Kenney / July 8, 2024

In the bustling commerce landscape, trade shows stand as vibrant hubs of opportunity. These events offer a unique platform for businesses to showcase their products, connect with potential clients, and stay abreast of industry trends. However, with a plethora of trade shows spanning various industries and niches, choosing the right trade show for your business can be akin to finding a needle in a haystack. So, how do you navigate this terrain effectively? Let’s delve into the art of choosing the right trade show. Define Your Objectives Before Choosing the Right Trade Show: Before delving into the myriad of trade show options, it’s imperative to define your objectives clearly. Are you aiming to generate leads, build brand awareness, network with industry professionals, or launch a new product? Understanding your goals will serve as a compass in guiding your selection process. Each trade show caters to different objectives, so aligning your goals with the focus of the event is crucial. Research Your Target Audience: Understanding your target audience is fundamental in selecting the appropriate trade show. Consider demographics such as age, gender, profession, and interests. Research which trade shows attract attendees that closely match your target demographic. For instance, a technology company specializing in gaming peripherals would likely find more value in attending gaming expos rather than general tech conventions. Evaluate Industry Relevance: Not all trade shows are created equal. Some cater to broad industries, while others focus on specific niches or emerging sectors. Evaluate the relevance of the trade show to your industry and niche. Look for events that attract key players, influencers, and decision-makers within your sector. Participating in a trade show that aligns closely with your industry ensures that you’re surrounded by individuals who understand your products or services and are more likely to convert into leads or collaborators. Assess Past Performance to Improve Trade Show Selection: One of the most reliable indicators of a trade show’s potential value is its past performance. Research the history of the event, including attendance figures, exhibitor feedback, and post-event analysis. Analyze factors such as foot traffic, lead generation opportunities, and return on investment (ROI) for previous participants. Positive testimonials and success stories from exhibitors can provide valuable insights into the effectiveness of the trade show in achieving business objectives. Consider Geographic Reach: Geographic location plays a significant role in determining the suitability of a trade show for your business. Consider whether you’re targeting a local, regional, national, or international audience. If your business operates primarily on a local scale, attending a national or international trade show might not yield the desired results. Conversely, if you’re business has established product-market-fit in the U.S. then national shows can offer invaluable networking opportunities and exposure to the entire market. Evaluate Costs and Resources: Participating in trade shows requires a significant investment of both time and resources. Evaluate the costs associated with exhibiting at each trade show, including booth rental fees, travel expenses, promotional materials, and staff wages. Calculate the potential return on investment (ROI) based on your objectives and projected outcomes. While larger trade shows may offer greater exposure, they also come with higher costs. Balance your budget constraints with the expected benefits to ensure that you’re making a financially prudent decision. Seek Feedback and Recommendations When Choosing the Right Trade Show: Don’t hesitate to reach out to industry peers, mentors, or professional associations for recommendations and feedback. Their insights and experiences can provide valuable guidance in selecting the right trade show for your business. Additionally, leverage online resources such as trade show directories, forums, and social media groups to gather insights from fellow exhibitors and attendees. Choosing the right trade show requires careful consideration of your objectives, target audience, industry relevance, past performance, geographic reach, costs, and resources. By conducting thorough research and analysis, you can identify trade shows that offer the best opportunities for achieving your business goals and maximizing your ROI. Remember, success at a trade show is not just about being present but about being present in the right place, at the right time, and for the right reasons. For an expanded view on this topic refer to our article The 3 Truths of Gaining U.S. Sales Traction. — About MEET MEET helps international B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.

Market-Entry, SelectUSA

Top Takeaways from the 10th Annual SelectUSA Investment Summit

Bill Kenney / June 30, 2024

Last week, the 10th annual SelectUSA Investment Summit took place from Sunday through Wednesday in Washington, DC. Having participated for the seventh consecutive year, we observed some noteworthy trends and insights that underscore the evolving landscape of investment in the United States. Here are our top SelectUSA Summit top takeaways: Interest in US Expansion Continues to Grow The allure of expanding into the US market remains robust, as evidenced by the diverse array of companies and investors present at the summit. The United States continues to be a prime destination for businesses seeking growth opportunities. This year, the enthusiasm for US expansion was palpable, with many international firms showcasing innovative solutions and exploring potential partnerships. The continuous interest underscores the US market’s reputation as a fertile ground for business growth, innovation, and profitability. The Support Ecosystem for Companies Expanding to the US Continues to Improve and Mature One of the most encouraging trends we’ve observed is the maturation and enhancement of the support ecosystem available to companies looking to enter the US market. From government programs to private sector initiatives, there is a robust network of resources designed to assist businesses in navigating the complexities of US expansion. These resources include: This improved support system not only makes the transition smoother for foreign companies but also enhances their chances of success once they establish a presence in the US. Founders Find More US Success by Focusing on Key Strategies Our discussions with various founders and business leaders revealed that certain strategies are particularly effective for achieving success in the US market. Here are the top three strategies that stood out: Customer Acquisition Over Government Incentives While government incentives can be beneficial, the primary focus for many successful founders is on customer acquisition. Building a strong customer base from the outset is crucial for long-term success. This involves understanding the target market, tailoring products or services to meet local demands, and implementing effective marketing strategies. Prioritizing customer acquisition ensures that the business generates revenue and grows organically, creating a solid foundation for future expansion. Building Strong Networks and Support Systems Instead of Going It Alone Another key takeaway is the importance of building robust networks and support systems. Founders who actively engage with local business communities, industry associations, and support organizations tend to fare better than those who attempt to navigate the market independently. Networking provides access to valuable insights, potential partners, and mentorship opportunities. It also facilitates knowledge sharing and collaboration, which can be instrumental in overcoming challenges and accelerating growth. The benefits of a strong network are amplified when translating an international business to the US market. Focusing on Customer Density When Establishing Traction Rather Than Selling Countrywide Finally, a targeted approach to market entry proves to be more effective than attempting to sell across the entire country right away. By concentrating efforts on specific regions and industries with high customer density, businesses can establish traction more quickly and efficiently. This focused strategy allows for deeper market penetration, better resource allocation, and the ability to build a strong local presence before expanding further. Once a solid foothold is established in key areas, it becomes easier to scale operations and extend reach to other parts of the country and other industries. The 10th annual SelectUSA Investment Summit top takeaways highlighted the continued interest and potential for growth in the US market. With an improving support ecosystem and clear strategies for success, companies looking to expand into the US are better equipped than ever to achieve their goals. By focusing on customer acquisition, building strong networks, and targeting high-density markets, founders can maximize their chances of success and make the most of the opportunities available in the United States. As we look forward to future summits, we remain optimistic about the vibrant and dynamic landscape of US expansion. For an expanded view of the SelectUSA Summit top takeaways refer to our article The 3 Truths of Gaining U.S. Sales Traction. About MEET MEET helps international B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.

Market-Entry, Workshops and Webinars

Successful Internationalization with Marco Barozzi, Expo Consulting

Bill Kenney / March 1, 2024

Bill Kenney: Hi and welcome to the next episode of Belly2Belly. Today, we’re speaking with Marco Barozzi from Expo Consulting about successful internationalization. How are you today, Marco? Marco Barozzi: I’m doing well, thank you. It’s a pleasure to be here. About Expo Consulting Bill Kenney: Great to have you. Many companies are expanding internationally and are curious about strategies to succeed. Can you tell us about Expo Consulting’s role in assisting companies with international expansion? Marco Barozzi: Certainly. Expo Consulting, founded in 1997, specializes in helping Italian companies enter foreign markets through international trade fairs and events. We offer personalized services to small and medium-sized enterprises, building relationships with trade show organizers and other relevant stakeholders worldwide. Despite the challenges posed by the pandemic, we remain committed to providing our clients with the best support and results. With over 25 years of experience, our multilingual team focuses on putting the customer first and facilitating their entry into global markets. Bill Kenney: Impressive dedication to supporting companies in their international endeavors. Do you specialize in specific industries, and are you primarily focused on B2B? Marco Barozzi: While we have experience in various industries, such as food and beverage, packaging, machine tools, tourism, and more, our expertise spans across different sectors. Italy being an export-oriented country, we cater to the needs of diverse industries, offering horizontal knowledge and experience. Top Challenges Internationalizing Companies Face Bill Kenney: That’s a broad spectrum of expertise. From your experience, what are the top challenges companies face when expanding internationally, and how do you help them overcome these obstacles? Marco Barozzi: Cultural differences pose significant challenges for companies expanding internationally. Misunderstandings, communication breakdowns, and ineffective business practices often stem from a lack of cultural sensitivity. Additionally, navigating legal complexities, compliance issues, bureaucracy, and supply chain disruptions can hinder expansion efforts. Political instability and economic downturns in target markets further contribute to uncertainty. At Expo Consulting, we help companies address these challenges by providing cultural awareness training, legal guidance, logistical support, and strategic advice tailored to their specific needs. Top Attribute for Successful Internationalization Bill Kenney: Those are indeed complex challenges. On the flip side, what key attributes have you observed in successful founders or leaders of companies that have scaled internationally? Marco Barozzi: Successful founders and leaders of internationally scaling companies exhibit cultural awareness, open-mindedness, and resilience. They understand the importance of adapting products and services to local markets and building trust over time. Strong, diverse teams with multilingual skills contribute to effective communication and problem-solving. Adaptability, resourcefulness, and patience are crucial traits for navigating the complexities of international expansion. Ultimately, successful international expansion requires a long-term, strategic approach rather than a quick fix. Bill Kenney: Absolutely, it’s a journey that requires patience and perseverance. Thank you, Marco, for sharing your valuable insights today. It’s been a pleasure speaking with you. Marco Barozzi: Thank you, Bill. The pleasure was mine. I’m always available for further discussions. Successful Internationalization & Exhibitor Tips Summary Points: Expo Consulting specializes in assisting Italian companies with international expansion through participation in trade fairs and events. Their personalized services cater to small and medium-sized enterprises across various industries. The top challenges companies face when expanding internationally include cultural differences, legal complexities, bureaucratic hurdles, supply chain disruptions, and political instability. Expo Consulting provides support in navigating these challenges through cultural awareness training, legal guidance, and strategic advice. Successful founders and leaders of internationally scaling companies demonstrate cultural awareness, open-mindedness, resilience, adaptability, and patience. They prioritize building trust, forming diverse teams, and adopting a long-term strategic approach to international expansion. About MEET MEET helps international B2B & B2G companies gain traction and scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney for a no-obligation conversation: bill@meetroi.com or +1 (860) 573-4821. Meeting ended after 00:13:16 👋 Belly2Belly successful internationalization podcast – Marco (2024-02-29 09:01 GMT-5) – Transcript Attendees Bill Kenney, Marco Barozzi Successful Internationalization & Exhibitor Tips Transcript This editable transcript was computer-generated and might contain errors. Watch the conversation here Read also “The 5 Rules of U.S. Trade Show Follow-Up” — Marco Barozzi, mbarozzi@me.com https://www.expoconsulting.eu/en/ – Feel free to contact us with any questions Bill Kenney,bill@meetroi.com MEET,https://sheikharin.com/meetroi/

Market-Entry

The 3 Truths of Gaining U.S. Sales Traction

Bill Kenney / December 13, 2023

Have you ever gleaned lessons that you’d rather not relearn? These invaluable insights often come at the expense of trials and tribulations, leaving indelible marks that shape our future endeavors. The same is true for most companies as they learn how to get US sales traction. With over a decade of experience aiding international B2B and B2G companies in gaining traction and scaling operations in the U.S., we’ve distilled three core truths. These revelations stem from witnessing companies grappling with these lessons firsthand. The toll of failure ranged from significant financial setbacks to personal upheavals, including health struggles and even marital strains. By embracing these truths, you’ll pave a smoother path toward validating product-market fit, fostering traction, and achieving scalability within the U.S. market. Customer Density is Critical for US Sales Traction Securing a sale is no small feat, especially in a new market. The inaugural sale invariably proves the most arduous, entailing a labyrinthine journey fraught with many potholes and hazards. In the U.S., establishing trust amidst unfamiliarity—be it with your brand, customer base, or market successes—poses a formidable challenge to conversion. The path to easing subsequent sales lies in proximity. To achieve this the second customer shares a strong linkage or industry alignment with the first. This proximity capitalizes on insights gleaned from the initial sale. This leverages knowledge of customer pain points, relevant use cases, and implementation hurdles to expedite and enhance subsequent transactions. Beyond bolstering sales efficiency, prioritizing customer density streamlines onboarding, service delivery, and ongoing maintenance—a holistic approach pivotal to sustainable growth. Founder-Driven Sales A common pitfall for companies venturing into the U.S. market is entrusting initial sales efforts to local representatives. This approach often backfires due to several reasons: Lack of Foundation: Local representatives commence with zero customer anecdotes, institutional insights, or adeptness in articulating your tailored solutions to target buyers. High Turnover: U.S. sales representatives, if met with initial challenges, swiftly move on to other prospects, amplifying turnover costs. Dependency Challenges: New market entry necessitates robust support from various departments at the home office, a rapport difficult for local reps to establish. Founder-driven sales circumvent these hurdles, offering a higher likelihood of success during the nascent stages of U.S. expansion. Founders bring unparalleled historical context and narrative depth, fostering connections and they navigate organizational support structures with ease. The founder’s initial presence in the U.S., albeit minimal, gradually escalates alongside demand, persisting until a repeatable sales process emerges—typically spanning 12 to 24 months. Agile Marketing Communications Upon entering the U.S. market, companies often overestimate their grasp of customer acquisition strategies. This overconfidence manifests in rigid promotional materials, similar to casting a fishing line without considering bait or fishing grounds. Similar to planning a fishing trip, your U.S. market strategy should address three key questions: What’s the Target Fish? Where’s the Best Fishing Spot? Which Bait to Use? Adopting an agile marketing approach empowers local teams to iteratively refine marketing assets, swiftly adapting to evolving market dynamics. This nimble methodology minimizes both time and cost investments, which are crucial for establishing traction, and then identifying and scaling a sustainable sales system. By embracing the principles of customer density, founder-driven sales, and agile marketing communications, your journey into the U.S. market can be marked by strategic finesse rather than repeated trials. May these insights serve as a beacon, guiding your business through the intricacies of market entry and positioning it for enduring success in the competitive landscape of the United States. How to Get US Sales Traction Resources Learn about our Intelligent Trade Show System MEET’s Belly2Belly Podcasts About MEET helps international B2B & B2G companies gain traction and scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney for a no-obligation conversation: bill@meetroi.com or +1 (860) 573-4821.

Exhibitor Tips, Market-Entry, Return on Investment, Workshops and Webinars

MEET’s Intelligent Trade Show & Event System

Bill Kenney / October 4, 2023

In our more than 12 years of helping international companies scale in the U.S., we have seen the many challenges that these companies experience when they try to productively participate in U.S. trade shows & events. The U.S. market is large and highly competitive. The trade show and event landscape is abundant and complex. And U.S. buyers have specific needs and expectations. All of this makes leveraging U.S. trade shows and events particularly challenging. The top critical fail points that we see in companies trying to expand in the U.S. include They select the wrong trade shows and events to participate in They negotiate on emotion and anecdotal information rather than fact Their teams are not well prepared, directed, or empowered to leverage the opportunity They do not have a reliable method to measure and continually improve results To solve this we developed The MEET Intelligent Trade Show & Event System (video). This system is built on a series of analytic tools. TRADE SHOW EVALUATOR (video) helps you choose the best and most efficient trade shows and events for you to participate in based on your target buyer persona and expansion stage. TRADE SHOW NEGOTIATOR (video) reveals the best path to negotiate with each trade show organizer. You will be able to quantitatively value each trade show and help the organizer become an ally in your success. TRADE SHOW COOKBOOK (video) helps you identify the specific value drivers for each trade show and event to properly prepare, direct, and activate your team to engage and enroll targets effectively. Each individual will have specific performance goals pre-, during, and post-event. TRADE SHOW ROI CALCULATOR (video) helps you not only measure the result of each trade show and event against specific value drivers but also gives you a basis for accurate hypothesis testing, rate and option negotiation, and continuous performance improvement If this sounds interesting to you, please tune in. We’re going to have a few more sessions that go into the details of each tool. We’re excited about the evolution of these tools and think that they will have a great impact on your business. We certainly would appreciate any thoughts, questions, or feedback that you have. We’ll see you all again very soon. About MEET helps international B2B & B2G companies gain traction and scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney for a no-obligation conversation: bill@meetroi.com or +1 (860) 573-4821.

Market-Entry, Return on Investment

Developing Strategic Focus

Bill Kenney / July 6, 2023

The hardest part of building an effective strategic focus is having a specific and clear target outcome. The best outcomes are like a destination that you would drive or travel to. When you do this well your vision and focus transcends the organization aligning your team in action and purpose. The more geographically distributed your team and operations are the more important to have a clear and omnipresent strategic focus. Can you imagine leaving your house without a destination? Most likely not. That clarity of destination allows us to plan, follow a route, and to assure that we’re on course. Think about all of the “turn-by-turn” information that you have at your fingertips once you choose a destination in your car. Airplane pilots and ship captains submit flight and route plans before leaving port to assure safety and that desired destinations are reached. Steps to a strategic focus Identify the desired outcome(s)…these should be specific, measurable, and time bound Create an inventory of assets and resources…people, capital, machines, technology, IP, partners, etc… Develop a plan that best utilizes the assets and resources to most efficiently and effectively accomplish the desired outcome(s) by the target date(s) Identify your key success indicators and create system to track results and periodically adjust tactics About MEET (meetroi.com) helps international B2B companies gain traction and scale in the U.S. through trade shows, events, and strategic connections. MEET’s processes help its clients ramp up sales quickly and maintain a steady stream of high-quality prospects going forward. Contact Bill Kenney for a no-obligation conversation: bill@meetroi.com or +1 (860) 573-4821.