Outsourced Business Development
Outsourced Business Development helps clients establish their presence in new untapped markets through the help of Philogos International Business Consultancy Services. With our proven track record and extensive experience in charting new markets, we are confident to deliver excellent strategies to making market expansion a success.
Having full grasp on how establishing market presence in new territories can be challenging and laborious, our service offers to make market expansion a smooth sailing. Our Outsourced Business Development service is divided into different phases/stages spread into different months and quarters in a year. We target to accomplish deliverables in every month/quarter beginning from preparatory stage until market entry strategy.
Scope of Service
Preparatory Stage
1st – 3rd month
- Hiring of a competent local staff*
- Office placement of the hired staff
- Initiation and implementation of go-to-market strategy
- Networking of potential local partners (e.g. suppliers, distributors etc.)
- Consultation and compliance to local laws and policies
*Local staff is independently monitored and assisted by our personnel. A bi-weekly update on their deliverables in the form of accomplishment report is required from them.
Second Quarter
4th – 6th month
- Active market research strategy
- In-depth training of local staff*
- Continuous networking of local partners
*Local staff is closely monitored and given product trainings. In addition to accomplishment report, they may also have to remotely meet the clients.
Third Quarter
7th – 9th month
- Lead generation
- Optimization of market entry strategy
- Review and discussion in view of market entry research results
Fourth Quarter
10th – 12th month
- Unveiling of Business Development progress
- Comprehensive plans market entry
- Culmination of the project
Success Cases
Global Tech Solutions Provider
Background: A leading global provider of innovative software solutions aimed to penetrate the competitive Hong Kong market. Despite possessing a cutting-edge product lineup, they encountered challenges in navigating local market dynamics, generating leads, and establishing a significant brand presence.
Challenge: The primary challenge was to establish a foothold in Hong Kong’s tech industry, characterized by high entry barriers and intense competition. The company needed to identify and engage potential clients, adapt to the local business culture, and build a sustainable sales pipeline while maintaining operational efficiency.
Solution: Our Outsourced Business Development (BD) service equipped the company with a dedicated and expertly trained team focused on achieving these objectives, including market analysis and strategy development, lead generation and prospecting, sales closure, and brand building.
Results
- Lead Generation: Achieved a 70% increase in qualified leads within the first quarter.
- Sales Growth: Secured 20 significant contracts with leading Hong Kong companies, leading to a 50% increase in sales revenue within six months.
- Market Penetration: Successfully established a robust presence in Hong Kong’s tech sector, with a 40% rise in brand recognition among targeted industries.
- Client Retention: Attained a 95% client retention rate due to outstanding after-sales support and customer service.
Established Luxury Fashion Brand
Background: A prominent luxury fashion brand, renowned for its exquisite designs and high-quality craftsmanship, aimed to capture the affluent Hong Kong market.
Challenge: The primary hurdle was establishing a strong brand presence in a market saturated with both international luxury brands and emerging local designers.
Solution: Our Outsourced BD service provided the brand with a dedicated team specialized in the luxury retail sector, covering market analysis and consumer insights, strategic networking, customized marketing campaigns, and a VIP customer experience program.
Results
- Brand Awareness: Achieved a 60% increase in brand awareness among target consumers within the first three months.
- Sales Performance: Recorded a 40% rise in sales revenue in the first six months.
- Market Positioning: Successfully positioned the brand as a must-have luxury label among Hong Kong’s elite.
- Customer Engagement: Established a loyal customer base, with a 90% retention rate among VIP clients.
VC-Funded Fintech Startup
Background: A cutting-edge fintech startup, specializing in innovative payment solutions and financial technologies, sought to disrupt the traditional financial services market in Hong Kong.
Challenge: Navigating complex regulatory environments, establishing trust with potential users and partners, and differentiating their offerings in a market dominated by established financial institutions.
Solution: Our team focused on regulatory navigation and compliance, strategic partner alliances, targeted marketing and user education, and continuous customer feedback integration.
Results
- Regulatory Approval: Successfully obtained all necessary regulatory approvals within the first six months.
- Partnership Growth: Established over 15 strategic partnerships with key local players.
- Brand Recognition: Achieved a 50% increase in brand recognition within the first quarter.
- User Adoption: Recorded a 300% increase in active users in the first year.