Lead Generation Outside Domestic Market
In case you make your first steps into a foreign market you are keen on finding the right contact persons efficiently. This natural attitude might impact your behavior during the lead generation phase. I believe you should not maximize efficiency in the lead generation phase. Analyze your lead performance in your domestic market and try to get similar results in the foreign market. You will have a hard time to get the same amount (or market volume ratio) of leads. You will probably need to adjust your search criteria or even your method of lead generation.
Don’t cut corners when crossing borders
It is a very important step in foreign market entry to get the right amount of leads. Besides bringing you the required leads to start your next phase, you will get an idea of the market. You will notice that job titles are different and that the value chain works differently. Once you have the same (or market volume ratio) as in your domestic market, you can convince yourself that you understand the market.
Ideal foreign client
Your ideal foreign client will not be different than your defined Ideal Industrial Client. However you will perform a step between lead generation and qualification to narrow your search. Depending on the physical or emotional distance to the foreign market and the investments you might narrow down your Ideal Client description, so you will not get lost in the field of second best clients. With your market entry you want to maximize your focus towards the best possible clients.
First Step is visiting an exhibition
You will probably have people around you that are familiar with the new market you try to enter. It will not cost you much effort to get an idea on the various exhibitions in the new market. For this purpose you could also consult trade organizations. Visit the exhibition without trying to sell. You should focus on obtaining useful market information.
Both government and public trade organizations can assist you with a list of interesting companies. They can also give information on trade barriers, industry organizations and exhibitions. However you should not overestimate the ability for these organizations to provide you with the quality leads you need. Therefore you need to action yourself, which is not a difficult activity nowadays, it only consumes time.