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Execution and Measuring Success in the US Market for European Software or SaaS Companies
by Eric Walczykowski
A successful US market entry depends on seamless execution from strategy to tactics.
The leader must ensure the following steps are meticulously planned and executed:
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1. Strategize
- Develop a Market Entry Plan
Craft a detailed plan vetted by the executive leadership team (ELT), board, and private equity sponsor to ensure alignment at the top. - Set Achievable Goals
Clearly define what success looks like and set realistic, attainable goals. - Align Resources
Ensure the necessary resources are in place to achieve these goals. A common mistake is underestimating the resources required to penetrate the market. - Communicate the Plan
Share the plan with the team executing it and other company stakeholders to garner support and ensure everyone is on the same page.
- Develop a Market Entry Plan
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2. Execute Tactically
Develop Core Processes
Establish processes that support the achievement of key performance indicators (KPIs).Localize Marketing Campaigns
Implement targeted marketing campaigns that resonate with the US audience.Sales Initiatives
Drive sales through strategic initiatives tailored to the US market.Customer Engagement Programs
Foster strong relationships with customers through engagement programs designed to meet their needs and expectations.Measure Results Frequently
Regularly measure results and make course corrections as necessary to stay on track.
Building a Cohesive Team and Maintaining HQ Connections
The country leader’s role includes building a cohesive US team and ensuring strong connections with HQ to maintain alignment and leverage support.
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1. Team Development
Hire to Values
Recruit individuals who align with the company’s culture and values.Assess Capabilities
Ensure team members have a proven track record of success in the roles they are hired for.Reinforce Values
Keep company culture and values front of mind and support meaningful interactions to reinforce these values.
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2. HQ Integration
Use Technology
Utilize tools like Zoom to maintain regular communication.Regular Travel
Travel frequently to build alignment and rapport with HQ.Checkpoints with Key Stakeholders
Set up regular checkpoints with key HQ stakeholders to keep them informed and solicit their help.
Performance Assessment and Strategic Adjustments
Regular performance assessments are crucial to measure success and make necessary adjustments. Key metrics include:
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1. Sales Growth
Monitor Revenue and Market Share
Keep track of sales growth and market penetration specifically in the region.Track Key Activities
In addition to sales and bookings, monitor key activities that drive sales as early indicators to provide feedback on strategy. Be sure to evaluate these activities in the context of the US. Activities may have different levels of effectiveness in different regions.
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2. Customer Satisfaction
Win and Loss Calls
Conduct win and loss calls to gather feedback from early customers and to gain a better understanding of competitive dynamics in the US.Stay Close to Early Customers
Ensure they are satisfied and become net promoters.Multi-Year Strategy
Design a strategy that focuses on getting the offering right in the early years and optimizing for the US as the most effective elements emerge.
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3. Operational Efficiency
Evaluate Local Operations
Assess the efficiency of US operations and support mechanisms regularly.Adjust as Needed
Make necessary adjustments to improve operational efficiency and align with strategic goals for the region and the company overall.
By focusing on the selection and development of the right US country leader, European private equity firms can significantly enhance their chances of successfully scaling software companies in the US market. This leader’s ability to integrate strategic vision, operational expertise, and cultural adaptability will be the cornerstone of a thriving US presence.
Developing and executing a market entry plan that has been vetted and aligned with top stakeholders ensures clarity and support. Communicating the plan effectively and aligning resources are critical to avoiding common pitfalls. Tactical execution and continuous measurement allow for real-time adjustments that reflect the learnings and experience on the ground in the US, leading to sustainable growth.
Stay tuned for more insights on how to continue evolving and optimizing your US market strategy to ensure long-term success.
Partnering with Bespoke Partners for Leadership Success
Bespoke Partners stands out as the premier firm focused exclusively on executive recruiting and leadership advisory services for software and SaaS companies in the United States. Here’s why Bespoke Partners is the ideal choice for finding the right country leader:
- Proven Track Record: Bespoke-placed executives have led their companies through exits and more than 425 acquisitions, totaling over $135 billion in value.
- Extensive Network: The firm has successfully recruited over 1,000 top-performing leaders into private equity portfolio companies, including CEOs, CFOs, CROs, CMOs, CPOs, CTOs, CIOs, CHROs, Board Members, Operating Partners, Vice Presidents, and more.
- Specialized Expertise: Bespoke Partners has conducted over 25 country manager searches specifically for private equity firms, demonstrating deep understanding of the unique challenges and opportunities in scaling businesses internationally.
- Efficiency and Success Rate: Utilizing a unique, data-driven methodology, Bespoke completes searches in typically half the industry average time with a 95% placement success rate. Their process identifies leaders who will drive growth and minimize the risk of C-suite mis-hiring.
Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.
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