how to capture market growth together

The digital transformation, accelerated by the impact of the pandemic, generates new challenges for organizations. They have responded to changes by developing and implementing digital solutions, automating processes and enabling new ways of working with their people from new remote systems.

All this encourages companies to work more and more with startups, because they give access to new technologies and innovation and allow them to infect themselves with a more agile and dynamic culture. Startups also invite them to question their current processes, which allow them to access new markets, thus improving their competitiveness; as well as the employer brand, which positions them to attract the best talent.

According to one of Gartner’s latest reports, digital services growth of 16.5% is expected in the coming years, representing an opportunity for startups to grow, gain size, position themselves and gain access to other customers and markets thanks to their support for companies.

Today, the practice of open innovation is becoming the main innovation strategy of companies. Telefónica Movistar offers a business platform that enables startups, especially those that are part of the Wayra portfolio, its open innovation hub and corporate fund, to access the market and grow through its business channels.

For the model to be successful, it is essential to achieve an alliance where a model of contributions and benefits from each party is agreed upon, taking into account: revenue sharing contract, sales model, service, invoicing and collections, among others. .

The main fronts to consider are:

1. Market

It must be analyzed and determined:

  • Market opportunity: which will allow us to know what level of income we can capture, also taking into account the degree of penetration of our competitors.
  • Target customers: we must be able to segment and thus be able to reach them with a value proposition adapted to their needs and their budget.
  • Competetion: know their strengths and weaknesses and thus be able to highlight our differences in relation to them and in turn develop a good treatment of objections, for this it is important to always carry out a ” fight card ”With the competition comparison and which highlights the advantages in a way that allows a powerful and argumentative speech for the commercial field when it comes to positioning the product in front of the competitors.

2. Customer journey

It is crucial to have all customer touch points identified, thus securing the value chain. The first phases are linked to the act of purchase: discovery, consideration and purchase; while the last phases are after the sale for customer retention and loyalty.

Being clear about the customer experience allows us to know and improve. Today’s world demands an immediate response, for which we must develop the agility of our processes, taking into account that the time limits between needs and satisfaction are increasingly shortened; but they also require customization, since the expectation of the customer grows more and more because we know him.

3. Value proposition

Our product or service must be presented from the resolution of the customer’s need, considering its use and benefits, clearly conveying how it will help and generate value, while making it more efficient and competitive. This, also taking into account the return on investment generated by its incorporation.

All of these points should be reinforced in training sessions, to ensure that sales teams know the triggering questions to ask customers when offering solutions.

4. Business strategy and channel

Once we are clear about the market potential and our value proposition, we need to determine which sales channel (s) will be based on the products and services.

There will be some products that will require a face-to-face sale because they are more consultative, and others will be through indirect, digital or inbound marketing canals.

In the business strategy, we must consider the possibility of defining complete offers with other solutions that allow us to offer the customer a proposition that meets many of their needs, as well as bundled offers with other basic products. of the company (service pack with discounts).

Not a minor point is the definition of the objectives and incentives of the different channels, as well as commercial actions such as promotions, demand generation events, webinars, contests and training with a speech adapted to each channel.

Remember to measure each action taken to know its impact and possible future adjustments.

In order to achieve goals and achieve the success of businesses and startups, it is essential to define a plan. The same must have objectives, managers and deadlines for completing tasks. Provide continuous monitoring to be able to make the necessary adjustments and work as a team with a high degree of involvement from both parties.

In order to capture the growth of the market, it is essential to be able to develop a plan in collaboration, it must have a follow-up that allows it to adjust and correct according to the Feedback and the results obtained.

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