Choosing the Right Country in Europe
In the first of our “Go to Europe” series, we discussed the importance of choosing a product that will be successful in the European marketplace. Once your company has committed to that product, you need to decide which country to target. Contrary to popular belief, European countries differ quite greatly from one another in hi-tech markets. For example, if your company has created a new innovation for aircrafts, your product would fit best in France’s growing aeronautics market.
To help you navigate the process of finding the right country to target, we have created a simple five-step checklist:
1. Look at your incoming inquiries
Where are the majority of your website inquiries coming from? If there is an overwhelming amount from a particular country, there is likely a reason for that.
2. Look at your Google Analytics
This feature allows you to see where the top hits on your website come from. Analyze your webpage statistics and try to find common trends in the data.
3. Find your target industries
In which European countries are your target industries? The demand for various industries certainly differs across borders.
4. Reach out to current clients
One of your most valuable channels is your current customer base. They will provide a unique perspective on expansion to Europe, and might even help you introduce your product to the European market.
5. Identify criteria to select the best markets
Understanding what criteria is important for your product will allow you to narrow down the options and focus on certain aspects.
Aside from the tips we have provided, there are many other areas that your company could analyze. Choosing the right country will gateway you to big opportunities, so it is okay to spend a little more time researching each country.
