“Anything that is not growing is dead.”—Lauryn Hill 

 

It might sound a bit extreme, but it’s true, especially when talking about revenue. If you’re not growing revenue, the chances of your company going bankrupt increase. 

 

If you want to drive more revenue and growth, you have to be aware that expanding into new markets is key. 

 

From Stripe’s Digital Trade report, we found that: 

• 50% of businesses think it is easier today to run an international business than it was five years ago

• 66% of businesses plan to expand into other countries in the next two years

• 89% of businesses attribute the wider availability of technology and tools as the key to an easy transition to international expansion 

• 81% of businesses expect to be able to increase their international sales over the

• next five years: 25% are forecasting sales growth of more than 50%, while 17% expect more than 75% growth.

• 59% of consumers are open to cross-border buying digital services.

 

 

In this article, you’ll learn: 

• The main benefits of expanding your market (globally)

• How to use nearbound data to expand into new markets

• How to activate your teams on nearbound data

   

Why are companies going global?

Yes, the end goal of expanding your market is to gain more revenue, but there are other reasons why B2B SaaS companies aim to expand their markets: 

 

 

Other reasons may include:

• Market Saturation: In mature markets, there might be limited room for growth due to high competition and market saturation.

• Diversification: By entering different markets, you can diversify your revenue streams. This reduces dependence on a single market or customer segment, mitigating risks associated with market-specific downturns or economic fluctuations.

• Innovation and learning: Entering new markets can be a good source of different business practices, customer preferences, and regulatory environments. This exposure can drive innovation and learning, enabling you to improve their products and services. 

• Competitive advantage: Being present in multiple markets can enhance your brand recognition and reputation, making your product more resilient against competitors.

• Investor appeal: Demonstrating market expansion can make your company more attractive to investors—they seek companies with growth potential and diversified revenue streams.

 

The only question left is: what’s the best way to enter a new market?

 

The answer: leveraging the trust that your partner already has in the market you want to enter.

 

Expanding into new markets

Companies can’t enter a new market alone. 

 

They need the help of people or companies that have done it before, and they need to leverage the trust that their ecosystem has already created. 

 

If you can’t enter a stranger’s house without an invitation from someone that person already knows, why on earth will you enter a new market without someone who can introduce you to it? 

 

That’s where nearbound comes in. It is the key to that new market’s door, and here are three ways, that will help you expand your market with Reveal data: 

 

Play #1: Partner intel

Entering a new market alone is a bold move: nobody knows you, and you don’t the market or the competitors. 

 

That’s why you need intel from your partners who are already established there. 

 

Here’s how you can get partner intel based on market presence in Reveal:

 

1. Choose 1 or 2 members of your Marketing team who are curious enough to learn how to improve their marketing strategy. 

 

2. Give your team access to your ecosystem-led growth platform—a.k.a. Crossbeam and Reveal.

 

3. Help your team identify which partner has the highest market and persona overlap.

 

 

4. Start account mapping. Filter according to the country or “new market” you want to break into. To quickly identify your partners in those markets filter also by account type and choose “partners”.

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5. Once you have the right partner, you will be able to get the right intel, and you will be able to deliver the right message to the right people to boost partner revenue. Now you can ask questions like: 

• What other tech are they and their market using?

• Who are the people inside those organizations who can help you understand the strategies they used to enter this market? 

• Who are the system integrators they have already worked with?

• Who are the local influencers?

 

Play #2: Leverage Reveal’s directory 

The Directory is Reveal’s solution for Partner Managers who want to find high-potential partnerships no matter what stage their partner program is in. 

 

Whether you’re looking to kick-start your program or find your next strategic alliance, Reveal’s Directory can help you find the right partners to accomplish your goals. 

 

These companies can help you break into new markets. 

 

With the Directory, you can:

• Do a quick search to check if a company is part of the Reveal network. 

• Invite more companies to access a Partnership Overview with this partner—you can invite them to connect with you. 

• Identify your potential partner’s market presence. Reveal displays the countries where a company has customers—filter by EMEA, NA, LATAM, NA, CIS,  by sub-categories like Africa, Europe, East Asia, South Asia, or by a specific country.  

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Play #3: Co-marketing

If one of your Marketing team’s main goals is lead generation/ demos booked/ influence deals, entering into a new market can also be a good strategy to follow. How?

 

Through co-marketing. Partnering with someone in the country you want to enter can give you access to their customer base, and boost trust in your brand. 

 

Here’s how you can do co-marketing with partners in another country in Reveal: 

 

1. Go to your 360° Goals tab. Select the goal “source opportunities” or “co-sell” and filter by the country you want to enter and the partner you have identified has market presence in that country—you can use Reveal’s Directory for that. 

 

 

2. Identify those prospects you want to target or those deals you want to influence and select the ones you want to include in your initiative. Download the list for email purposes, and then add them to collaborate. 

 

3. Attach your partner to the country you want to enter. 

 

 

4. Start having conversations with your partner and planning that webinar, in-person event, or article that addresses those accounts you have previously selected. 

 

Find some best practices on how to build successful co-marketing events here. 

 

5. And the best thing is that you can track all the processes, and correctly attribute your partner’s influence.

 

Activate your teams on nearbound data

There’s no reason for you to work hard in your expansion strategy if the rest of your GTM teams don’t have access or don’t know how to action your nearbound data. 

 

To help with your team enablement journey, R.J. Filipski Global VP of Business Development and Ecosystem at Clari, has some tips that can make this process easier: 

 

1. Select a channel that you can leverage for sharing nearbound intel. Use the channels your team is already using, like Slack. Take the success stories and put them into your most used channels at moments that matter, for example, company meetings (take 15 minutes once a quarter to share the success stories). 

2. Create educational and training programs. Invest in comprehensive education and training programs to ensure your teams understand the concept, benefits, and implementation of nearbound. Provide clear explanations of how nearbound aligns with their objectives and demonstrate its value in driving revenue growth.

3. Action the attitude play. Recognize and celebrate the achievements of your team members who embrace nearbound and actively contribute to its success. If this isn’t part of your budget, start with posting regular “kudos” to those people who action nearbound intel. 

 

Let’s expand together 

Expanding into new markets with nearbound strategies is essential for driving revenue growth and staying competitive in the B2B SaaS industry. 

 

If you leverage partner relationships, you can significantly ease the transition into new markets by receiving valuable intel, fostering co-marketing efforts, and utilizing tools like Reveal’s directory for partner discovery.

 

Identifying the right partners for entering new markets can be challenging. Fortunately, the Reveal team is ready to share best practices that simplify your market expansion.

 

Let’s talk about strategy!