Joining us on is Walt Megura, the Vice President of Emerging Industry Segments and Channels for Ericcson, one of the leading providers of Information and Communication Technology (ICT) to service providers, with about 40% of the world’s mobile traffic carried through their networks.
Walt is here to share his experience in creating new beachheads in verticals that provide future long-term growth to Ericsson.
In today’s show we’re going to demonstrate how to ensure you have the right sales strategy and talent to enter new markets.
Below is a timestamped summary of the show segments and the topics covered.
Segment 1: Ensuring You Have the Right Strategy and Talent to Enter New Markets
- Assessing the situation. minute 4:08
- Allocating people, money and time into the different verticals. minute 5:22
- Strategy for entering new markets. minute 6:44
- Targeted routes to market. minute 8:32
Skip to minute 4:20 to listen to how Walt assessed his strategy for diving into new markets:
“What we started to look at was the notion of the internet of things and how to help enable connectivity to other industries. We started looking at adjacent industries where communication infrastucture could be readily leveraged in the transformation of their businesses…”
Segment 2: Talent Assessment
- Assessing the talent needs for each new market. minute 10:48
- Skill orientation vs. person orientation. minute 11:42
- Evaluating existing sales talent. minute 14:08
Skip to minute 10:55 to watch Walt discuss his strategy for assessing the talent needs for their new target markets:
“Because we have long, historical relationships with our customers, we tend to have more of a farmer mentality versus a hunter mentality. So, when I started looking at moving into new markets, I needed to find a blend of folks that were technically astute but vertically oriented and know the language to help take our message into our new accounts…”
Segment 3: Targeting Different Markets
- Sizing the market. minute 20:26
- Market research into buyers. minute 21:44
- Leveraging your market research across the company. minute 24:57
- Demonstrating that you’re getting traction. minute 26:48
Skip to minute 20:56 to hear Walt :
“It was a combination of data gathered on the size of the accounts and combined with the background of the individual who was working in that area. That was how we got ahead of our competitors…”
If you want to learn more from what Walt discussed today, you don’t have to go it alone. Enlist the help of our team of experts here at SBI. We know product launch.