Expand to New Markets
Entering new markets beyond your home region represents one of the biggest opportunities for business growth. Assess options nationally or globally to significantly grow revenues and customer base.
Benefits
- Diversifies revenue streams.
- Reduces dependency on existing geographies.
- Extends brand awareness and reach.
- Counteracts saturation in current markets.
- Enables wider value creation and impact.
Approach
- Prioritize based on future potential, regulatory openness, low barriers to entry.
- Identify target customer profiles and segments for relevance.
- Determine optimal entry models - partnerships, local centers, digital, hybrid.
- Modify products, pricing, channels based on specific localization needs.
- Maintain consistency in brand experience globally.
With the right location selection criteria, go-to-market strategy and flexibility to localize effectively while retaining core value propositions, expanding to new geographies enables business models honed domestically to prosper around the world, paving the way for long-term, distributed brand affinity and revenue stability.