Go-to-Market Approach to Enter Greater China
SmithStreet’s strong go-to-market approach fosters symbiotic partnerships with retail brands entering Greater China by understanding and assessing the market, mapping out the distribution strategy, identifying and signing contracts with partners, as well as providing business operation supports.
1. Understanding and Assessing the Market
- Assess addressable market opportunities
- Industry and beachhead market size
- Holistic target consumer understanding (i.e. demographic and geographical segmentations, purchasing behavior)
- Competitors performance and strategies
- Identify brand’s key challenges
- Finalize brand’s key goals
2. Mapping Out the Distribution Strategy
- Identify optimal model
- Offline/Ecommerce ROI breakdown
- Offline: real estate logic
- Ecommerce: channels, KOL (key opinion leaders) partnerships
- Evaluate the organizational structure needed to support China launch
- Create P&L and investment business case for brand
3. Identifying & Signing Contracts with Partners
- Identify all potential partners (brick & mortar/ecommerce)
- Filter shortlist of partners for introduction to brand
- Negotiate and provide legal support until contract is signed with selected partners
4. Providing Business Operation Supports
- Provide a local team to manage on-the-ground operations
- Address any issues that may arise from marketing agencies and affiliate partners
- Monitor and manage agencies’ performance against established KPIs
- Track and submit sales performance to brand’s stakeholders on a pre-determined schedule (weekly, monthly, quarterly)
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