How to expand into new markets with Elsita Meyer-Brandt of Eventbrite
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Transcript of How to expand into new markets with Elsita Meyer-Brandt of Eventbrite
Five things to get
right when expanding
into new markets
With
Elsita Meyer-BrandtHead of New Market Expansion & International Marketing,
Eventbrite
1. Research the
opportunities
and prioritise
your markets
• Where are you customers, where are you
seeing traction?
• Don’t simply pick the biggest market, pick the
one with the most opportunity for growth
• "Ripeness Model" - population, urban density,
GDP, political stability, eCommerce, and mobile
and internet penetration
Action
Audit existing
customers. Where do
you see traction?
Analyse size of market.
Then, competitors and
growth potential. Pick
the low hanging fruit.
2. Plan in-depth
how you’ll enter
the market
• "We create an International Playbook, a manual
with instructions on how to enter a new
market"
• Include all the details you will need for all
departments: sales, marketing, finance,
product, legal, engineering and so on
Action
How would you get
your first customer?
What would you need
to have in place to
service them?
3. Prepare a long
way ahead,
through
partners!
• Be patient and lay the groundwork very early
• Start by developing the relationships with key
influencers and local partners.
Action
Identify local partners.
Maybe even host
partner events.
4. When you get
there, move fast
“Be scrappy, make mistakes, and ask for
forgiveness.”
- Kevin Hartz, Founder, Eventbrite
Action
Ready, fire… aim!
5. Keep learning • Markets change, so stay on top of what’s
happening
• Markets that looked ripe a few years ago could no
longer be viable, while other markets you didn’t
consider before could hold lots of opportunity
• Stay abreast of what your rivals are doing to
avoid getting beaten to the chase
Action
Record your learning!
Watch your competitors.
Constantly re-evaluate.
Go back to the first step.
Thank You