This time last week, we co-hosted an event with Radi8, a consulting and advisory firm that works with tech companies who want to enter new international markets. The event was part of London Tech Week and was for companies in need of advice for market entry in Europe.
Our very own Rebecca Donnelly, Head of Corporate, joined the panel to discuss revenue, hiring and scaling and put forward the argument for PR to be a core feature when performing market entry in Europe. PR helps a company to get into the local culture and to make a name through local endorsement. You can see a snippet of her thoughts in this wrap-up video:
#Radi8AME
Following the event, we asked three of the panellists for their top tip for companies entering a new market. Watch their responses below.
Jules Chappell, Managing Director of Business at London and Partners
As MD of Business as the Mayor of London’s London and Partners firm, Jules speaks to businesses – both established and entering the UK – on a daily basis.
Jules’s advice sounds simple – plan. However, the reality is that many businesses will either forget to plan, or will not realise the scale of how much planning is required to enter the UK market.
A business must take into account the market they are entering, its cultural nuances, and of course, the local bureaucracy that must be gone through.
“My single biggest advice for someone coming into London is to plan. It sounds obvious, but it is quite a complex, mature market.” — @juleschappellUK MD of @L_Pbusiness speaking at #Radi8AME #LTW pic.twitter.com/92QbHvimrc
— Radi8 (@Radi8global) June 12, 2018
David Quantrell, Business Advisor
David knows a thing or two about entering the European market. He was President EMEA at the US cyber security company, McAfee and more recently was Senior VP EMEA at the US cloud storage company, Box.
Culture is the biggest thing for David. He recommends that this should be a core focus for any company looking to expand its team across markets – aiming to find people that complement the company culture that already exists.
Get the people right, and everything else will become much easier.
“I think one essential thing for a new market entry is when you start to build out a team, you really have to build a team that matches the core culture of the business” — David Quantrell speaking at #Radi8AME #LTW pic.twitter.com/Yx5GtYmZa8
— Radi8 (@Radi8global) June 12, 2018
Peter Gillingwater, Founder and CEO at Radi8
Peter, who founded Radi8 and executive search and talent development agency, Nexec Leaders, has not only entered new markets through his own business but specialises in advisor others on how to do so successfully.
His unique experience means Peter has a 360-degree view of what entering a new market means for all departments of a business and knows what works, and what does not.
Peter’s advice for market entry in Europe? To hire the best talent. Don’t skimp. And if you’re sending out your own, never send the second best.
“I’d advocate [companies entering a new market] should really try and focus on hiring someone very high quality… because that’s going to be your leader in region who knows the market inside out” — @pgillingwater speaking at #Radi8AME #LTW pic.twitter.com/lcFwcIP70B
— Radi8 (@Radi8global) June 12, 2018
You can see more of the insights from the event over on Twitter; check out this Twitter Moment or look back at the hashtag to see all the updates.
On a side note, if you enjoyed the videos and think the social was on point during the event, well shucks, that was all us. Get in touch if you’d like us to handle your digital strategy at events in future.