When expanding into a new market, having the right go-to-market strategy can make all the difference.
A go-to-market strategy outlines how a company will bring its products or services to market and capture market share. An important pillar of this strategy is having the right local talent on the team to execute the launch. This includes a cross-functional team with roles in research, marketing, sales, customer service, finance and more.
Local talent is crucial for a successful go-to-market strategy, as they bring a wealth of benefits to the table. With language proficiency, cultural understanding, market knowledge and established networks, a local cross-functional team can accelerate a market launch and raise the impact.
However, recruiting and retaining local talent can be a significant challenge, especially for companies looking to expand internationally. Not only do they have to navigate cultural and language differences, they must also comply with new regulations and compete with local businesses for the same pool of talent.
That’s why it’s important for companies to carefully consider which country to test their go-to-market strategy in. Each has its own unique set of opportunities and challenges. By comparing the options, companies can identify which country is the best fit for their business and go-to-market strategy.
In this blog post, we’ll take a look at the opportunities and challenges of hiring go-to-market talent in four of our most popular go-to-market countries: Germany, Italy, Spain and the United Kingdom.
|Country||Opportunities||Potential Challenges||Attractive Industries|
||Automotive, Machinery, Aerospace, Biotechnology, Chemicals, Renewable Energy, Environmental Technology, IT|
||Fashion, Design, Automotive, Food and Wine, Green Technology, Luxury Goods|
||Tourism, Renewable Energy, Infrastructure, Agribusiness, Biotechnology, Automotive, Aerospace|
||Finance, Technology, Healthcare, Creative Industries, Education, Life Sciences|
Solution: EOR hiring
Developing and executing a successful go-to-market strategy requires a deep understanding of local market conditions, regulations and talent availability.
Getting the right local talent is crucial for market entry because local professionals bring valuable knowledge and insights – including the latest trends, cultural nuances and consumer preferences.
That’s where an Employer of Record (EOR) can be an invaluable resource. By partnering with an EOR provider like GoGlobal, companies can streamline hiring and HR processes. They can also gain easy access to expertise in navigating local laws and regulations.
Some EOR partners may even be able to support recruitment. GoGlobal’s Recruit & Hire solution provides end-to-end support, from job posting and applicant screening to interviews and onboarding. GoGlobal’s team of experts can assist with job description creation, salary benchmarking and interviewing.
Once a worker is onboarded, GoGlobal can handle all administrative tasks related to hiring, such as drafting employment contracts and managing payroll and benefits. This allows companies to focus on developing and executing their go-to-market strategy without the burden of HR processes.
Boots on the ground: the EOR advantage for a go-to-market strategy
By complementing your go-to-market strategy with an EOR hiring solution, you can get boots on the ground much quicker compared to trying to open an entity and investing all the time and expense it requires.
In the event the new market doesn’t pan out, releasing the worker and relocating the operation is a simple and hassle-free solution. There’s no need to close down an entire entity. On the other hand, if the venture is successful, it becomes much easier to transition into establishing a local entity.
When an effective EOR is engaged for both recruitment and hiring, companies can seamlessly bring the right local talent on their team and develop a winning go-to-market strategy.