The world is shrinking and so are the timeline and costs of going global

Back in the days when Finnish companies began setting their sights on international markets, they simply sent a sales rep with a suitcase of samples on a plane and waited for the sales figures to jump. While that jump has kept coming to grief time and again, the method has remained widely popular. Add the traditional “a good product sells itself” mantra, and it is easy to see why Finnish companies keep struggling in their international operations.

Anne Laitinen, CEO of Buorre, says that while the old theories about how to break through in new markets are still largely valid, they should be put in the modern framework. Every market is different, so agility is required from the product, brand and messaging alike to ensure that the value proposition resonates with every audience the right way.

“Companies keep focusing on product development while they should put more effort to testing assumptions,” Laitinen mentions. “Today, we have access to all the data we need from any market, so the main challenge is to put that data in the right perspective.”

Market data has been traditionally used to simply collect leads. Today, it enables accurate target group and brand analyses, as well as valuable understanding about how the value chain develops and how the market operates.

Laitinen suggests companies should utilize this data more efficiently to find out the best possible target groups, messages, and timing –and to get assurance of having sufficient potential in the first place. Finland is still famous for being able to develop high-quality products, yet brand image, emotion, and distinctive memory trace require a lot more attention and effort than what they get today. Knowing the market helps address those issues in a way that could make all the difference.

While segmentation is often overlooked due to Finland’s compact size and limited population, even a small piece of an international market can be substantial for a Finnish company. To spend the available resources in a smart and efficient way, messaging should be targeted accurately and evaluated continuously – in every market.

“As the world changes, so does consumer behaviour,” Anne Laitinen points out.

“Smart data-based decisions provide a solid platform for agile testing and cost-efficient business operations, in the markets that have the best potential.

Looking at data from the right angle can make internationalization smooth and guide companies of all sizes and ages to the road of successful growth. Even the sales rep’s work becomes easier, now that his work can be supported in a way that makes perfect sense. |

Read more at buorre.fi/en