Exploring New Markets in UK for More Profitable Business Idea

Exploring New Markets in UK for More Profitable Business Idea

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Businesses, assumingly, understand that without diversifying, they will eventually die a natural death. Hence, it’s important to explore new markets for stable business growth. The concept of diversification is to effectively sustain businesses and survive the increasing competition in the global market, not only in UK. However, it’s also essential to understand that this can be a risky strategy to make. Check out the following tips to help you create a winning marketing plan for new markets.

Step by Step Guide in Accessing New Markets

 

#1: Conduct a market research on what industries or location to tap

Of course, you will need to make a thorough market research in order to see potential investments you can make and where exactly to do it. The internet and technological platforms will help you find information that will identify new markets for profitable investments and business expansions. Delve deeper into global trade statistics and check out free sales leads as well.

Related: Why Customer Profiling Could be the Best Investment your Company Makes

#2: Identify what your competitors are targeting

You need to actively participate in trade shows, forums, expos, and conferences if you want to acquire essential information about your competitors. For instance, if they are planning to expand their market and develop latest products, you can consider their moves to plan your next marketing strategy.

Related: Unconventional Event Marketing Campaigns & Why They Totally Worked

#3: Support your own team

When discovering new market opportunities, be sure to help you team in identifying new avenues for the business to thrive. Remember, your team may have helpful contact including their support networks, families, and friends. Ask them if they can look for sources that can support your new market exploration activities.

Related: Diversify or Die? Here’s How to Thrive in Newer Markets

#4: Know your target market

The fundamental rule in the world of commerce is to know who your audience is. So when it comes to finding new markets, you also need to understand the changing needs of your customers. And if you know what they exactly need and want, you will be successful in retaining them and patronize your brand.

Related: Better Business Decisions by Enhanced Customer Data Analysis

#5: Perform lead generation campaign

lead generation campaign

When delivering campaigns, the marketer needs to generate leads through compelling content and proven techniques. So if you want to acquire more sales, better profits, wider market reach, and eventually new markets, lead-generating campaigns is the way to go.

Related: You Can’t Hit Two Birds with One Stone: Creating Content for Demand Gen & Lead Gen

As a catalyst for expansion, growth, or development in the business, diversification is clearly the ultimate factor to effectively penetrate new markets. However, don’t forget that it may cost you huge money before you can even go through these new ventures. For instance, investing in extended services or products obviously means tapping company resources in order to materialize diversification. Therefore, targeting customers and exploring new markets will not salt away businesses from spending big money. You can also outsource to a lead generation company, they have trained marketing staff and you’ll gain access to their marketing technologies. If you’re not sure, better read the 4 Signs That You Badly Need a Lead Generation Team.

The core principle in successfully identifying new markets is to perform methodical research and from that information, you can arrive at the best choices for more lucrative income streams. In addition, be sure to work with the right staff and handle the best marketing strategy to profitably penetrate the new markets in the United Kingdom and even beyond.

 

Callbox had helped businesses expand across the globe,

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B2B Lead Generation in the UK- How to Get Effectively Noticed

B2B Lead Generation in the UK: How to Get Effectively Noticed

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B2B Lead Generation in the UK- How to Get Effectively Noticed

 

We all know United Kingdom for its contributions to the world of culture. Who could forget the impact of bands such as the Beatles and the Rolling Stones during the 60s? In addition, how can we ever fail to recognize the role of Jane Austen and Graham Greene in molding the modern novel?

If anything, these literary and musical giants post one essential fact about the UK: that it is a country that thrives on original ideas and an exceptional sense of style.

For B2B companies wanting to engage British businesses, this fact presents a grueling challenge. They often wonder, “How on earth can we make our brands more appealing to their tastes?”

Since B2B lead generation is all about building bridges and companies generally want to attract potential clients, it is vital to apply the right kind of approaches allowing these companies to engage the right kind of decision-makers in the UK market.

 

Here’s a list to start you off:

 

1). Social media engagement

 

Believe anyone who says that social media works for the B2B industry because at any rate, it does! A study by Weber Shandwick entitled Socialising your CEO: From Marginal to Mainstream, as much as 80% of global CEOs are engaged in social media, not discounting of course those in the UK. The report goes on to state that small and enterprise-sized businesses devote much of their time publishing their own news stories online all the while consuming someone else’s stories. Social media hands down will then be your best bet for luring high quality leads into your database. This depends however, on how you craft your social media strategy.

Related post: The Quintessential Guide to Effective Social Media Marketing

 

2). Using data profiling in your cold call campaign

 

Cold calling has always been the bane for many businesses in the UK. Strict regulations have been imposed to limit B2B telemarketing efforts, which have been known to cause “substantial damage or substantial distress” as mentioned in this BBC report. As a result, B2B marketers are gradually abandoning the telephone as an audience engagement and audience nurturing channel altogether, in effect failing to realize the full potential of telemarketing. On the other hand, they can implement a customer profiling system not only to engage the right kind of people, but for avoiding the wrong kind of people, i.e. businesses listed under the national do-not-call registry.

Related post:   Poor Conversions? Better Use Progressive Profiling


3). Outsource to a capable partner

 

If you’re not sure how to engage UK businesses properly and with relevance in mind, then you might find a valuable partner in a B2B lead generation company capable of reinforcing your marketing efforts via technical knowledge about the country’s business culture.

 

Check out this case study:

Integrated Campaign for UK’s Leading
Workflow Automation Solution