The biggest challenges of B2B sales in the EU: how to resolve them

Most B2B companies from outside the European Union when starting to scale their business sooner or later attempt to enter Europe. It is a logical and completely right decision given the importance of European economies in the world. Yet, starting a business in the EU for foreign companies always entails many problems such as strict regulations, consumer selectivity and high competition. What is the best way to deal with these pitfalls and successfully expand your business to Europe without stress – learn in the article.

Why it is important to enter the European market?

Here are a few reasons why the European market is so desired for any business regardless of their scale:

• 27 countries with mutually integrated economies (to a certain extent)
• The population is estimated at around 448.4 million 
• 4.233 million km² of the total area 
• € 14.5 trillion of the common gross domestic product 
• Free movement of goods, services, people and capital 

The European Union market seems to be the desired one for doing business and investing in, but not every company actually operates within Europe. The reason why lies in the fact that even though the EU might be a profitable market, it is still one of the hardest to enter successfully. 

B2B business in Europe: the main problems and resolving methods  

There are 5 of the biggest pain dots that most B2B companies are having before and during entering Europe. Yet, all those issues can be resolved if you approach them with a professional’s help.  

1)Set up the local presence

The EU market is very mature and has a very high service level. But, in return, your future partners will expect you to be well established in the industry in global terms while being very close to them mentally and geographically. Thus, you need the following:

• Rank the countries by importance and select one or a few of the most important according to your needs
• Localizing the office (land-based or virtual)
• Starting localized branding, so that customers get acquainted with your products
• Create a network of direct local connections

Starting a business in the EU as a foreigner  you need to select the country you want to primarily invest in, emerge your local presence and start doing marketing.

2)Comply with regulation

The EU market is one of the most demandable in the world in terms of the necessity to comply with both EU-tailored and local regulations. General Data Regulation Protection, Corporate Sustainability Reporting Directives, and environmental policies are just a drop in the ocean of rules existing in Europe. So, you can handle it in two ways:

1. Learn every paper yourself of in-house lawyers before starting a business
2. Approach the experienced professionals that will guide you through the process 

Note that violating or disobeying rules implemented in Europe will lead to problems with the law and entails reputation losses. The good news is that once you settle in one country within the EU perimeter, you can scale your business freely furthermore.

3)Marketing and sales strategies

The chaotic attempts to target every eventual customer with random marketing tools in the market you just entered will not make your business successful. Moreover, any time soon you will arrive at the point where no one would like to be your partner. The B2B segment in every market casts away those who conduct the business blindfold. 

The way to resolve it:

• Define your target market 
• Develop your Ideal Customer Profile (ICP)
• Based on the received information create a clear marketing strategy

Knowing who exactly are your real potential customers and where to find them will shed light on the effective way of reaching them. 

4)Standing out from the crowd 

The European Union is already oversaturated with offers in every industry you can imagine. Thus, when doing business in Europe you need to win the competition against tons of sharks waiting for you. It is wise to start by studying the competitor’s weak sides and based on research do the following:

• Implementing effective inbound and outbound marketing tools
• Selecting the right communication channels 
• Developing your unique voice

If every marketing tool works seamlessly and you know how to win the competition – your business will be successful.

5)Maintaining the long-term growth 

Finally, do not forget that selling something to someone is always only half of the deal. More importantly, is to retain a “one-time” buyer and make him or her your song-standing partner. You can do it by doing:

• Customer nurturing 
• Reward loyal customers with discounts 
• Understand their needs 

A good marketing strategy includes instructions on how to keep the customers after they already bought something from you.

Is there an all-in-one solution?

Starting a business in Europe as a foreigner is a task that requires a certain level of marketing experience as well as familiarity with local rules and regulations. Boost2Be has everything described above and you have a business need to be represented in Europe. Give us a notice and we will together scale your business to Europe shortly.