Case Study: International Business Development
Business Challenge
Our client, a successful management consulting company, offers their services to fortune 500 companies and leading retail banks who support and train large numbers of employees. Having had success in the last ten years in their home market, our client was interested in expanding to North America and to repositioning their product for international acceptance.
A previous attempt by our client to establish an office in England proved to be costly and offered inconsistent results. For this reason, and due to their increased awareness of the culturally different sales and business development environments, our client recognized that they needed the support of business development specialists.
A key challenge for the firm was that they also needed to maintain a focus on their successful home business, and therefore needed to find a self sufficient and persistent developer with a high level of integrity. As is common in closely held successful firms, they were also faced with resistance to changes from their founder who had successfully built their company to the leadership position it enjoys today.
Core Strategy
With International Subsidiary Development's support and advice, our client committed to the following core strategies:
- Explore the North American market and business culture to identify the appropriate product positioning.
- Reposition their product and brand identity through key marketing materials to focus on niches in the marketplace, and to avoid overused and culturally outdated product positioning, marketing terms, and methodologies.
- Establish corporate validity and quickly develop the aura of having a long term presence and stability in North America.
- Aggressively sell to and support clients in North America
International Subsidiary Development's Solution
Our client needed to find a cost-effective and rapid solution. Given our previous experience, and through a referral, our client did not hesitate to turn to International Subsidiary Development Inc. for a solution that was mutually developed. At International Subsidiary Development Inc we equip people with the research, insights, experience, business network and day-to-day management that will help them to realize their goals.
We began by meeting with the executive management group to gain a clear understanding of their service, organizational structures and goals. Following some market research and confirmation that they would be willing to reposition their product to fit a different market, ISD's business developer spent time in their foreign office learning in detail everything about the product and the company. From this knowledge and ongoing exchange of business development ideas, we were able to develop a new product position and a phased approach for product, brand and company development.
Implementation
The first phase consisted of talking with individuals within the ISD network who work within the client's industry or related industries. From these interviews we identified existing and past trends that related to our client's services. With this and existing information about competitive trends and parallel industry trends, we developed a concept of how the services should be positioned.
The second phase involved rewriting all of our client's marketing materials. Together with our clients, we rewrote and redesigned their web-site, brochures, and other corporate and product literature. This was integrated into a newly designed and modernized logo, and brand image.
At the same time, the third phase of locally validating their firm and structuring their legal and operational infrastructure was underway. To assure the future customers of our client with their long term support and regional presence, we prepared their incorporation, established phone reception services, incubator office space, a bank account and various sales tools.
In the fourth phase, acting as an employee of the client, we personally began their sales process. From ISD's vast network of public and private contacts, a substantial list of key target companies and their executive officers was organized. We systematically called, emailed and wrote letters to these leaders and organized appointments for face-to-face sales and to directly involve the client with potential customers.
Measurable Results
International Subsidiary Development consistently demonstrates tangible results across a broad spectrum of performance metrics, including speed to market, access to markets, cost efficiency, cultural integration and avoidance of the many culturally related business differences. The return on investment is quantifiable and substantial.
Our client was extremely pleased to find that the ISD expertise and ISD's initial business efforts not only allowed them to enter the North American marketplace, but significantly improved their sales in their existing market. It also opened the door for other opportunities around the world. Therefore, their return on investment was immediate. Furthermore, they learned a systematic sales and business development approach which has encouraged them to consider the development of new markets within their home and foreign territories. Our client has become a consistent advocate of International Subsidiary Development's services.