Developing new markets is not like selling to existing, well established markets. Expanding into new markets most often requires dedicated marketing and sales resources that are focused on learning and understanding the nuances of a different marketplace.
All too often, companies utilize their existing sales team to address new markets and fail to achieve the growth and market position that they desire. While sales teams can sell into new markets once the market is developed, the development of these markets requires skill sets that are more focused on learning, analysis and adaptation.
Sales teams that are focused on managing existing customers are typically consumed in customer demands and issues and don’t have the time that is necessary to develop new markets. Applying a focused effort over a shorter period of time with the right skill set will yield better results than borrowing resources on a part-time basis.
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