Europe is a highly competitive market with strong local players. At ChannelCreator, with our 18 years of experience in market entry, we strongly advocate a “land and expand” strategy for success:
- Start Small: Instead of trying to enter all of Europe at once, choose a culturally aligned country or small group (e.g., UK/Ireland, Nordics, DACH – Germany, Austria, Switzerland) to focus on first. Once you’ve established a win there, expanding into adjacent markets becomes much easier due to the EU’s seamless trade arrangements.
- Embrace the Channel: The role of channel partners such as large consulting firms like Accenture is often more critical in Europe than in North America. This is due to entrenched relationships and a general risk aversion among European buyers. Integrating both direct and indirect selling is key to success.
- Localize Your Go-to-Market (GTM): Don’t discard your existing local GTM strategy. Instead, adapt and iterate it with the help of local experts. Keep your GTM plan tightly defined, executable, and run it in rapid “sprints” of continuous testing and learning.
- Refine Your Ideal Customer Profile (ICP): Your ICP in Canada may not directly translate. Work with local experts to adapt your ICP to reflect the specific sector strengths and market nuances in different European countries.
- Validate Relentlessly: Constantly validate your approach. Learn from every interaction, including why potential customers say “no,” as this feedback is crucial for refining your strategy and identifying viable markets.
- Partner Early: Bringing partners into play earlier than you might in your local market can significantly influence close rates, aid in project delivery, and amplify your market reach. It’s also vital to standardize and document your partner programs to ensure scalability across markets.
- Leverage Ecosystems: If you have existing partnerships with global platforms like SAP, Salesforce, or Microsoft in Canada, explore working with their European counterparts. This “ecosystem hijack” can provide established proof points and lower barriers to entry.
- Focus on Enablement: After winning initial pilot projects, the “enablement phase” is critical. Thoroughly train and integrate your partners’ teams (project, consultants, sales, marketing) into your business. This deep integration can make your solution part of their DNA, leading to consistent repeat business.
Ultimately, successful European expansion requires methodical planning, deep local insights, and a willingness to adapt your approach. By adhering to these strategic frameworks and leveraging available expert guidance, companies can navigate the complexities and capitalize on Europe’s lucrative market.