A sales & marketing process is described here in 5 steps. It is the process that starts after finalization of the preliminary agreement between a principal and Vector49.
1. Basic Benelux Market Study
Over a period of 4-8 weeks, Vector49 will spend 2-3-4 days per week in the factory of its principal. This time is used to build personal relationships with key contacts within the principal its organization and to become familiar with how this organization works.
Furthermore, technical training will be attended by Vector49 its staff to gain a good technical understanding of the product portfolio of the principal.
Meetings with the principal its sales & marketing departments take place in order to understand what actions and strategies have been implemented in existing markets in the past (the German or other foreign markets).
The bigger part of this internship will be used to carry out the desk-research part of a basic Benelux Market Study. The remaining days of the week will be used to visit future customers in the Benelux, other relevant organizations, authorities and (if possible) competitors. This is the field-research part of the Market Study.
At the end of this 4-8 week period, a succinct Benelux Market Study is the result. No academic or theoretical report, but practical and useful information.
In this report the total size of the Benelux market, an analysis of the key players (customers and competitors), the most important trends, the demands of the market, price levels etcetera are presented. Furthermore, recommendations are made regarding what Market Entry Strategy seems favorable.
2. Meeting between the principal and Vector49
During this meeting, the above mentioned Benelux Market Study will be presented to the principal and subsequently discussed.
Based upon the findings in the Benelux Market Study, the principal can and will then decide whether or not to launch a long-term Benelux offensive in cooperation with Vector49.
The Benelux Market Study will enable the discussion about what goals are realistic and should be set for the future (i.e. after the first, second and fifth year following market entry). The definition of clear goals is necessary in order to define success and failure.
3. Design of the agreement
Based on the above, the principal and Vector49 can discuss and agree on the final shape of the agreement between the two parties.
4. Preparation of the sales & marketing plan
In the 2-4 weeks following the final agreement, Vector49 will prepare the sales & marketing plan for the Benelux offensive. This plan will be discussed and agreed upon by both the principal and Vector49. It will serve as the guideline for all actions by Vector49 and will specify what support is needed from the principal.
5. Launch of the Benelux offensive
Now the actual work in the Benelux starts! Vector49 will launch the planned marketing actions and will start contacting all prospects in the Benelux, on a one-on-one basis. The prospects will be supplied with all relevant information and quotations that are necessary to start the business and win orders.
Vector49 will regularly visit prospects to create an interest in the principal its products and will offer technical advice and all other support needed. If the discussions with the prospect need the presence of technicians or management of the principal, Vector49 will organize and coordinate these meetings.
All contacts with prospects will be entered in CRM (Customer Relationship Management) software of Vector49. If the principal already works with similar software, integration or interfaces can be discussed.
On a monthly, quarterly and annual basis, Vector49 will report the most important developments in the Benelux offensive to the principal. This management information will offer the principals a transparent picture of how well the plans are implemented and what results have followed. Also, these reports offer the possibility to tweak or change plans if and when necessary.
During the annual review, Vector49 will present the Annual Operational Plan for the following year to the principal.