Open or enter markets such as Russia or other CIS area countries, usually requires going through a first phase of study and adaptation of the company and its products before beginning to grow locally. Typically for this type of exercise, all companies find themselves faced with barriers such as distance between teams, language, cultural differences and the need to allocate time and resources (financial or otherwise) in order to ensure success for the project.
Based on this observation and to ensure the success of the project, P2M has implemented an approach in two phases to support its customers on all the steps required for the implementation and development of a company regardless its level of development. Thus P2M may have to work on issues such as research funding from public or private, the study of the target market (documentary, field), adaptation of the company and its products (translation of marketing materials, patent ... ) or the taking over a part or all of the local commercial development.
LThe services presented below, are all the services that P2M can offer in phase 1 according to the progress of your project and its level of development.
1. What to do before meeting with prospective clients and partners for the first time?
a. Have you already chosen your market?
To the extent that you would grow your business internationally but have not yet chosen which market or sector you would like to focus on, P2M offers to assist you in defining the ideal market (type of actors, market size, number of competitors and economic stability) for your company and your products. Thus we can apply our methodology of bottom-up analysis in order to record each studied country and help you prioritize the target country or countries most suitable for your products.
Do not hesitate to ask us about our "Definition and selection of the ideal market," if you want to know more about it.
b. Do you have enough knowledge of your market in order to estimate your business objectives or to decide on a strategy of approach?
The establishment of a development strategy (direct, indirect or mixed) can be effective in having perfect knowledge of the market, its functioning, its history, its actors, its sales prices ... P2M therefore propose to study the targeted market to help you define the strategy to be established, begin to familiarize yourself with your market and get a first idea of the potential sales of your products. The upward methodology used to study the market will allow you to obtain the following key information:
- Market development and its trends;
- Market structure (prospects, partners and competitors);
- The potential for your products according to targeted segments and the chosen type of development;
- The political situation;
- The regulatory environment.
- Raise funds from private investors;
- Or obtain grants or public subsidies.
- Identification and selection of fairs;
- Participation and representation (as exhibitor or visitor) during the fair with or without the participation of a member of your team
- And optionally: (i) organization of BtoB appointments with prospects / partners not attending the fair, (ii) launch your first "press release" or to list you on directories and forums so that your prospects can easily find you on the internet and start generating leads entering.
- Prospects & partners (rencontres) achieved;
- Contacts of Prospects and partners;
- Information about the market and your competition, gathered;
- Conclusions about assumptions of documentary study phase and recommendations on identified opportunities.
This market research will be supported by a field study (eg: first stages type) to validate the assumptions.
Do not hesitate to ask us about our "bottom up market research” if you want to know more on this subject.
c. Do you need funding to implement the chosen strategy?
To develop locally or internationally, companies generally have three options in terms of funding:
On this subject, P2M therefore aims to help you firstly to quantify your financing needs and also to seek and obtain adequate funding for your project, if the "self-financing" option is not possible or desirable.
Depending on your country of origin and the target country, various aids or grants may be obtained both to finance the development or the adaptation of your products for marketing. In this light, P2M list and daily studies these options to be able to advice, assist and secure at most the access to these public funds.
In addition and if necessary or strategic, P2M can help on fundraising projects, mainly in Russia. For this purpose, P2M has established strategic partnerships with key players in the fundraising market. Thus P2M intervenes in the drafting of necessary documents for fundraising (business plan, executive summary, and PowerPoint presentation of your project) and preparing meetings with investors (BA, VC or PE) and delegates the daily relationship with its external agents.
Do not hesitate to ask us about our "funding research ", if you want to know more on this subject.
d. Would your target market be able to understand and use your products?
i. Regarding our marketing tools, have they been located in order to be read and understood by your partners and prospects?
Regardless the type of commercial development chosen, the first step of any prospecting approach will be to present your company and your products in order to allow your prospects and partners to understand and measure the interest that can represent your products for their companies. It is therefore necessary that from the first contacts you would be able to position yourself at the same level as your competitors (local or not) by offering materials (website, brochures, product sheets, etc.) in local languages and adapted to the local context (commercial, regulatory, historical, etc.). Thus you can play on a "glocal" approach vis-à-vis your prospects and partners, bringing international expertise (global) mixed at a local approach and avoid being seen as one of many foreign players trying to enter the market.
Thanks to its positioning both locally and internationally, P2M has the ability to help companies adapt their marketing tools to the expectations and requirements of the target market. Indeed, P2M is able to intervene most often, on topics such as adaptation and translation of relevant pages of your website, your product brochures and / or company presentation.
NDo not hesitate to ask us about our service "location of marketing tools", if you want to know more on this subject.
ii. Do your products need to be certified?
Considering your marketing tools, the necessity to obtain an approval of your products before selling them in Russia is more than uncommon. Indeed, it will be necessary to obtain the TR (technical regulations) and TR UC (technical regulations for the Customs Union Russia - Belarus - Kazakhstan) to attest (if necessary) that your products comply with Russian regulation and standards.
With its experience and its network, P2M can support the technical preparation of your file in order to facilitate and speed up the certification of your products.
Do not hesitate to ask us about "certification" if you want to know more on this subject.
2. How to start initiating a relationship with your prospects or partners?
Once all your documentation and preparatory steps completed, the question arises of how to meet and validate all the assumptions you have taken to secure your business goals, your price positioning or your sales approach.
a. Did you know that your competitors participate in international fairs in your targeted area?
Participation in trade events (fairs, forum, exhibition, roundtable breakfast) can prove to be a useful tool as part of a strategy validation of a market penetration or market prospecting.
Before any exposure approach, it may be recommended that companies participate in these events as visitors. Indeed, the visit allows the company to choose the fair location, identify strategic locations, to get a general idea before participating as an exhibitor or just starting to understand the market better.
To accompany you in the different phases of such an exercise, P2M offers the following services:
Do not hesitate to ask us about "international fairs" if you want to know more about it.
b. Would you like to take a proactive approach and not wait for the next event?
If, on the contrary, you do not want to wait or depend on the timing or salon visits, you will need to get in touch with your market (prospects, partners, influencers, etc.) in order to begin to validate the assumptions made during the literature review. This approach will also allow you to begin to witness the local market around your company and your products and identify your first opportunities (prospects, partners). For this P2M has set up two types of offers:
i. An offer of support to set up meetings with your prospects and partners:
In order to accelerate and facilitate the identification, making contact and setting up meetings with your target (prospects, partners ...), P2M has established short-term missions (of several weeks) for setting up meetings with new actors. Thus P2M offers customers the opportunity to benefit from its support and expertise for establishing meetings, to which P2M will not participate unless specific request in this regard.
Do not hesitate to ask us about our "lead generation", if you want to know more about it.
ii. An offer of market validation:
If on the contrary, you cannot move or you want to be accompanied by P2M team on your meetings, P2M can also propose you meet on your behalf or jointly, your prospects (customers, partners, and prescribers) selected and contacted in order to check their interest in your products and gather additional local information. After several meetings you will receive a sheet report form including the key information:
This report will allow you to prepare future trips and start building your sales pipe in this area, in case you want to stay in this market.
Do not hesitate to ask us about our "first steps approach," if you want to know more about it.
Once the studies which aim to prepare, validate or finance the development of a new area completed, P2M can also help you in the commercial development phases strictly speaking, ie generating revenues in this area.