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INCREASE YOUR ODDS OF SUCCESS IN A NEW REGION
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How We Deliver This Service
We begin with an assessment of where you are today, where you want to be in the future and the gaps between the two. Often our assessment will focus on your geographic expansion goals, what you’ve already tried, what has worked and what has not worked.
Usually our Geographic Expansion service is developed in close collaboration with the leader who will take P&L responsibility in the new territory and with the senior leadership of your firm. These are the components to our Geographic Expansion service:
- Metrics Development: where we help you define a clear picture of what success looks like in the new territory for new client acquisition, revenue and profits. We also help you define the timeframes in which you will measure each of these. We also help establish the minimum criteria for continued efforts at working the territory – i.e. when do we pull the plug if things are not going well?
- Operations: where we help you create a strategy for how you will staff the new territory, find workspace for staff, acquire services for phone, internet, computer systems and other resources. We also help you define how you will deliver services in the new territory if you choose not to place delivery staff there immediately, which is a common scenario. Many service firms choose to get the business first and then deliver services with staff from other locations.
- Research: where we research the market opportunity and come to identify the number of prospective ideal clients we believe are in the new territory. We also identify and build profiles of competitors.
- Marketing: where we develop a plan to get your brand and people in front of as many prospective ideal clients as possible. Usually these strategies include a multitude of channels: events (conferences and seminars or on-site free training sessions), email marketing, social media marketing, referrals from clients in other territories to prospects in the new territory, cold calling, content marketing and other strategies.
- 90-Day Plan: where we develop a Gantt chart for how to go to market in the new territory for the first 90 days. This plan is critical to gaining traction, getting early wins and keeping your staff motivated. The 90-day window is also a critical keep-going or stop-now milestone.
A strategic plan like the one described above greatly increases the likelihood that you will achieve success in the new territory. Based on lessons learned from this experience, you can also develop and refine the plan to open other new territories with accelerated levels of success.