Last December I wrote about Building B2B Technology Markets, looking at how to penetrate a market with almost none of the traditional characteristics of a mature technology market? As technology vendors increasingly look to emerging markets as a significant opportunity and source of growth, this question becomes more pressing. The report explored some of the elements of Cisco’s Country Transformation initiatives in order to identify steps in the process of building market infrastructure:
For example, the report looked at partnering with governments to encourage market-friendly policies and investment in the necessary technology infrastructure to support market development and overall economic growth. And, from a sales perspective, trade associations provided an alternative channel to reach small and medium businesses in markets where distributors and resellers weren't available.
But, another element critical to successful market development is the ecosystem of partners developing solutions specific to the particular market, or even just contributing local innovation for new approaches to broader global issues. Building B2B Technology Markets discussed finding local organizations to act as partners in the market, and even investing in educational initiatives, but missed the next step of how to help create these new local ecosystem partners.
I just returned from Cisco Networkers 2010 in Bahrain, and wanted to put a few thoughts to paper (or the electronic equivalent). First of all, thank you Cisco. What a fantastic event for all involved!
The event was held at the Bahrain International Circuit (BIC), and boasted attendance of over 3,000 delegates from Bahrain and more than 60 other countries. Not only was the event an opportunity for technical training for the attendees but it was also an opportunity for local Cisco partners to present their products and solutions. Both are consistent with Cisco’s emerging markets strategy of country transformation – to create an environment conducive to expanding opportunity in emerging markets rather than merely exploiting existing opportunity. Cisco works with governments and other non-governmental organizations in certain emerging markets to help develop the ICT infrastructure and local technical skills in order to build the market, and further enable economic development of the country. Holding Networkers 2010 in Bahrain demonstrated Cisco’s commitment to their country transformation strategy.