The silk road of an innovation to Emerging Markets

This story has an intention to make you think how to adapt global innovation to emerging markets and invest your time for meaningful education.

It’s clear that market interests of large companies extend beyond the confines of the “developed world”. How is that “silk road” goes?

  • EM has been stronger than expected all along pandemic
  • Government’s push to reopen the economy
  • Global Ventures has begun investing heavily in health tech

When I joined my 1st Global Medical Company the intention was to get experience in innovations in medical field I’ve learned in my internship. I had to transform my skills in medicine and apply them thought hands-on for the sales employees and HCPs’. In the other words I should find a way and help to introduce the value of “the medical innovation” to HCPs via sales reps thanks to the technologies at the exact economically challenging moment.

Since the time I’m working for EMEA-Emerging Markets businesses were going through at least 3 economic crises

From the 1st year of my work I saw 3 traits I knew would make them successful

  1. work with “the innovation” across HCPs’ “basic needs”
  2. offer “the innovation” to them who has a curiosity in a current economic conditions
  3. sell only if they desire to try “the innovation” (but not earlier than that)

I couldn’t train for more, but soon this approach met resistance. It because of labour intensiveness and additional analysis were required.

What are the realities of emerging markets?

  1. Flat and dispersed knowledge for innovation adaptation and global strategy implementation
  2. Executive type of management (vs mentoring)
  3. Multicultural society and challenges of cross-cultural adaptation
  4. Multi-factorial concerns to invest in “the innovation” and high expectations for fast paybacks
  5. Extensive territory and inability to make a proper pace of personal meeting with decision makers

So, I brought coaching approach in sales on my team:

  • While it’s easy to talk, talk about “the innovation”
  • When it doesn’t work, walk towards the “basic needs”

Already it’s documented (in my LinkedIn profile) and improved the sales process of “the innovation”.

Learn this “growth hacking” processes to help with clients.

Method of coaching combined with Soft Skills in sales of “the innovation” of your company ensures the increase in revenue and guarantees the feeling of confidence regardless of circumstances.

Are you interested to know more?

So, ask yourself how can you grow across your markets with “the innovation” during current challenging time? Book me as a consultant in your business situation.

I do it all with a positive attitude and professional manner. I am sure there are plenty of situations to drive forward.

  1. Find your way how to establish durable ‘company-product-client’ links
  2. How to do the shortcut from advanced technology to safety and comfort of your client
  3. Master how to close a deal with a sale

Your sales process will become more profitable and the revenue will increase.

If “the innovation” keeps pushing and continuing to grow, in case of venture investors are keep looking for emerging markets and all these factors help us to stay healthy and move forward positively thinking. Who knows what we can do by the 2030? But, we have to know where the caravan marches on. Is it a time to invest in guide supportive resources?

P.S. Please share in comments your actionable advices to inspire others to succeed.

References:

1. ANALYSIS-Pandemic upends emerging market investment thesis, contributor Tom Arnols, Reuters, published Sep.17, 2020

2. Market valuation of sectors in 2020, McKinsey &Company, Data as of 10.12.2020

3. Badir, Y.F., Frank, B. & Bogers, M. Employee-level open innovation in emerging markets: linking internal, external, and managerial resources. J. of the Acad. Mark. Sci. 48, 891–913 (2020).

My name is Elena Konovalova a founder and CEO Business_Elegence. I can help you put your client into the “comfort zone” while selling your medical product