How can technology help you enter new markets?

If you call LinkedIn a technology, I think it's a phenomenal way to enter into new markets with very little cost. Add in a strong AI contact tool, with a minimum list of 2,000 names, it's amazing what you can accomplish. For 8 months I've been leveraging this social platform to enter into new markets that are 9, 12, and 24 hours away from my own time zone. With a targeted campaign that's very personalized to key personas and the utilization of LI+, it has allowed 1 person to build over a 30 million dollar pipeline with roughly two to four million dollars closing in under 15 months. For $1,000 subscription and some targeted lists, I don't know a better way to crack into a new market with your product or service on such a limited budget.

Technology accelerates market entry with data-driven insights and broad outreach. Advanced analytics guides strategic decisions, while digital marketing, exemplified by targeted social media campaigns, amplifies visibility. E-commerce platforms like Shopify provide seamless global access, and localization tools adapt content for diverse cultural preferences. Supply chain optimization through ERP systems reduces costs, and CRM systems like Salesforce enhance relationship management. Mobile apps cater to mobile-centric habits, as seen with Starbucks. Blockchain ensures transparency for markets valuing authenticity. These integrations empower businesses to navigate complexities, fostering growth and sustainability in new markets.

Leverage technology to scale your business. 1- Make sure you have in place the right web assets (Website, social media for business, etc. 2- Hire a SEO professional to ensure you are visible on the web (globally and locally) 3- Use technology to research information about your niche and competition. Start with searching on your google browser at no cost. 4- Organize the data you have gathered. Analyze them accordingly to your goals. Google sheets are a free alternative. 5- Use the insight gained from the data analysis to build marketing strategies and target your audience. Social media, payed adds, etc will do the magic if used properly. 6- Start locally and target a broader audience when your business is locally consolidated.

Embracing technology is pivotal in navigating the ever-evolving business landscape. Online tools and platforms empower businesses to access a wealth of data, offering insights into market dynamics such as size, growth, trends, competition, regulations, and customer preferences. Leveraging social media, blogs, podcasts, and webinars provides avenues to glean wisdom from industry experts and influencers. Additionally, technology facilitates market fit validation through surveys, interviews, and experiments with potential customers, enabling businesses to align their strategies with the evolving needs and preferences of their target markets.

I’ve found Smartling and PhraseApp helpful, which are localization tools that aid in adapting marketing content, websites, and campaigns to suit local languages and cultural nuances.

My professional background Logistics and Supply Chain Management so this is my frame of reference: a. Optimize your inventory & supply chain operations with software solutions that provide real-time visibility, demand forecasting, and inventory management. b. Having experience with international shipping - technology should be used to streamline shipping & logistics processes, ensuring efficient and cost-effective delivery to new markets with limited infrastructure. c. Use technology as a disrupter; historically freight is moved via wood pallets. Think out of the box - replace the pallet with something using embedded software, OCR or even AI/ML functionality. This provides real time visibility to be leveraged across the global supply chain.

Technology has enabled us to become much smarter on knowledgeable about the consumer and their habits. Technology has given us the opportunity to dive into consumer behavior, and shopping results and patterns in ways not possible even 5 years ago. Understanding basket analysis, journey mapping, selling kpi’s, dynamic pricing analysis, and predictive analytics are but a few of the tools we have to help us make better choice based on looking forward, not backwards.

Technology can not help me enter new market unless I have my Go-to-market strategy. So in case my GTM strategy clear on the table, then everything else will flow spontaneously including technology.