Some tips on how to sell technology in Asia 

Guest post by Bob Poole, Chief Sales Officer – TenderHut

The wider Asian market presents an attractive expansion opportunity for technology companies. The policies of countries that have placed a heavy emphasis on technological development are proving fruitful, and the increasing incomes of young and developing societies are leading to a growing tech savvy middle class.

Some tips on how to sell technology in Asia

However before embarking on progressing in the Asian technology market, preparation is vital in order to be successful

A powerhouse of diversity and opportunities

One of the biggest mistakes you can make when considering doing business in Asia is to treat this vast and diverse region as a single country or a collection of similar countries with uniform rules. Asia covers over 44 million square kilometres and is home to nearly 50 countries, with approximately 4.5 billion inhabitants who have diverse cultures, religions, and traditions.

Most likely, your business expansion goal will be one of the world’s largest economies and the most technologically developed countries – China or Japan, maybe another market offering growth opportunities. Whichever direction you choose, you must understand that companies expanding from Europe or the USA should be able to recognize the differences from their home market.

From my perspective – a Brit with more than 30 years of experience in selling technology to the world’s biggest companies – the Asian market is a fascinating challenge offering many opportunities to those who are willing to take the time to get to know and understand it, without preconceptions.

TenderHut, where I am Chief Sales Officer now, is a Polish (Central European) technology group entering Asian markets gradually. We understand that this process takes time and requires immense patience.

In May 2019, our company Solution4Labs opened a new office in Guangzhou, China. It was a bold move, but we were confident in our abilities and the potential for growth in the region. Just six months later, our subsidiary Solution For Labs Guangzhou Limited was born, offering cutting-edge LIMS systems to manage laboratory research processes. The new venture was a success, and we were thrilled with the progress we had made in such a short amount of time.

In addition, our prop-tech startup, Zonifero, had successfully implemented its solution in office buildings in Singapore. But we weren’t content to rest on our laurels. We had big plans to expand further into Asia and establish a presence in Japan.

Our team worked tirelessly to make this vision a reality, but then the COVID-19 pandemic hit, and everything came to a screeching halt. Our plans for expansion were put on hold, but we refused to let this setback defeat us. Thanks to contacts we made before, Solution4Labs delivered innovative solutions for clients in the automotive and pharmaceutical industries of Japan, such as laboratory systems for engine component leaders and validation services for pharma labs. We kept on working, and now we are on the road again meeting our new potential business partners face to face in Japan.

A few universal tips for beginners on Asian markets

Despite the size and diversity of the Asian market, the most attractive Asian countries for technology companies share some similar characteristics, which should be taken into account when planning to establish business contacts with them. I’ll share with you the ones that, from my perspective, seem the most interesting and useful at the beginning of your journey to success in Asia.

Don’t expect that you will start business talks as fast as in Europe or in the USA. Doing business in Asia can take time, and it may require multiple meetings and negotiations to reach a final agreement. Be patient, and respectful throughout the process. Also, you need to remember that directly saying “no” or “I don’t like it” to many of your Asian partners means a lack of courtesy, and they will avoid such statements in communication with you.

Respect the hierarchy and tradition. This can involve paying close attention to titles and seniority, being respectful and deferential to authority figures, and showing appreciation for local customs and traditions. Schedule meetings well in advance, never be late, and familiarize yourself with the business etiquette of the country.

Establishing strong relationships is crucial for achieving business success in Asia. Take the time to build personal connections with your Asian counterparts and demonstrate a long-term commitment to the relationship. Corporate entertainment can be an important part of building connections with a partner or customer, so a willingness to meet after work for say a meal can create bonds that enable business to flow more smoothly.

Ensure you understand the etiquette of dinner though as you will be treated as a guest and often with that there are certain polite considerations you should adhere to. Respect is everything and beware that culturally in this region displays of anger can often be frowned upon and seen as weakness and or impolite.

Follow local laws and regulations. Get acquainted with the legal framework of the country and ensure compliance to avoid penalties, legal issues, and reputational risks. Pay special attention to regulations pertaining to foreign investment, intellectual property, data privacy, and anti-corruption measures.

Work with local partners. Partnering with a local (native) company or individual can help navigate the complex regulatory landscape, provide valuable market insights, and establish credibility with potential customers. How important it is? We found out, among other places, in Singapore. Thanks to cooperation with a recognizable and trusted partner in the local market, one of our companies implemented its solutions in Singapore’s office buildings.

Regionalise your solution. When doing business in Asia, often it can be important to regionalize your solution to meet the specific needs and preferences of local customers. This can involve offering support in local languages, adapting your solution to meet local regulatory requirements, and customizing your implementation process to fit local business practices.

Cultural sensitivity can greatly benefit your interactions.  If you don’t know how to play according to the local rules, find a good partner who can act as your local representative and advisor. Use the support of your native chamber of commerce or other business bodies operating in the market you are interested in. My experience shows that success is within your reach.

About the author

Bob Poole – Chief Sales Officer – TenderHut

Bob has over thirty years of software sales experience across a wide range of industries and holds a degree in Applied Chemistry.

During his 21 years at his previous company, Thermo Fisher Scientific, Bob held various sales positions within the Informatics business unit from UK Account Manager, Global Strategic Account Manager, EMEA Sales Director and most recently Global Sales Director working with major customers serving the pharmaceutical, oil & gas, food & beverage and forensics industries.

Bob lives in Cheshire in the United Kingdom and is married with two grown up sons. His interest include travel, supporting Everton football club and DIY.

https://www.linkedin.com/in/bob-poole-aa16683

https://tenderhut.com/en/team-of-experts

See more breaking stories here.