In emerging economies, navigating the go-to-market strategy is challenging due to limited data and fragmented distribution. Covelent's advanced go-to-market strategy empowers companies to achieve profitable growth through a digitally enabled transformation of their sales and distribution capabilities.
Covelent’s Go-to-Market Framework
Our go-to-market strategy consulting experts help clients overcome go-to-market challenges by leveraging our extensive local expertise and diverse global teams to create sustainable business impact. We employ local consultants with deep knowledge of cultural nuances, ways of working, key success factors, and strong industry experience to ensure effective execution.
We assist companies in rethinking their go-to-market strategies and enhancing their performance by adopting an integrated approach across the sales and distribution landscape.
KEY AREAS OF FOCUS FOR GO-TO-MARKET TRANSFORMATION
- Reinvent Front-End Sales Processes: Redefine and digitise sales processes for greater efficiency and direct sales effectiveness.
- Transform Distributors: Reassess the roles, scale, economics, and payout strategies of distributors.
- Optimise Retail Execution: Improve service models, apply segmented service models, and boost sales force effectiveness.
- Excel in E-Commerce: Adapt and thrive in emerging channels, including e-commerce and e-B2B.
ADDRESSING CURRENT ECONOMIC PRESSURES
In today's economic climate, much like during previous downturns, companies’ sales and distribution activities are under pressure from both the top and bottom lines. These pressures are amplified in emerging markets by complexities such as insufficient data on customers and purchases, fragmented and multilayered distribution networks, and inconsistent last-mile execution by sales reps earning $100 to $150 a month with a 20% attrition rate. Companies turn to Covelent for a customised go-to-market strategy to succeed in these challenging yet promising regions.
ADAPTING TO MARKET EVOLUTION
Despite significant investments in product and service offerings, many companies fail to meet growth or cost-efficiency targets with their current go-to-market strategy. Seeking more effective and efficient ways to sell and service customers is crucial for driving revenue growth or profit improvement. In various industries, the channel landscape is evolving, with channels consolidating and becoming more powerful. Businesses must adapt or diversify their go-to-market strategy to safeguard their economics and ensure sustainable distribution in the future.
OPTIMAL GO-TO-MARKET MODELS
Optimising a go-to-market strategy often involves evaluating a range of options, including direct and indirect models. This starts with an in-depth understanding of customer requirements, channel capabilities, and the resulting economics for both the customer and the provider. The right go-to-market model allows a business to optimise its commercial organisation and investment by clearly identifying the resources required to meet customer needs and strategically redeploying them.
INNOVATIVE GO-TO-MARKET SOLUTIONS
New digital and logistical capabilities enable businesses to serve end customers directly, reducing or eliminating intermediaries, thereby improving customer service and margin economics. Customer expectations for product and service quality are rising, putting additional pressure on sales teams and support functions. Meeting or exceeding these expectations can differentiate a business and ensure long-term success. This may require investing in new capabilities to serve end customers directly or support channels more effectively.
Covelent's value add
Covelent helps organisations make informed decisions around their go-to-market strategy and optimise their commercial organisations and resource deployment by:
- Mapping the Channel Landscape: Analyse the distribution chain economics in a sector.
- Evaluating Go-to-Market Options: Assess existing or new go-to-market strategies based on strategic, commercial, and financial criteria.
- Modelling Value Chain Economics: Explore the economics for providers, intermediaries, and customers under different go-to-market scenarios.
- Developing New Models: Identify opportunities for technology-led models to serve customers directly, reducing reliance on intermediaries.
- Aligning Commercial Roles: Ensure roles such as sales, account management, marketing, and customer service deliver the customer value proposition.
- Reviewing Commercial Structures: Assess the structure and governance of commercial functions to ensure strategic alignment and cost-efficiency.
- Optimising Resource Allocation: Allocate sales, marketing, and supporting resources according to strategic priorities.
Maximising outcomes
- Bespoke Go-to-Market Platform: A tailored go-to-market strategy aligned with business strategy and customer requirements.
- Increased Value Capture: Improved ability to capture a larger share of the value created for customers.
- Enhanced Commercial Capabilities: Strengthened commercial capabilities to consistently deliver on customer value propositions.
- Sustainable Go-to-Market Strategy: Ensure continued effective distribution and reduce the risk of disintermediation.
- Optimal Resource Allocation: Drive higher returns on sales and marketing investments.
- Cost Efficiency: Reduce overall sales and marketing costs to improve profitability.
Covelent's go-to-market strategy framework is designed to address the unique challenges faced by companies in emerging markets. By utilising local expertise and integrating digital tools, we help businesses achieve sustainable growth and improved performance in their sales and distribution efforts.
