MMehr’s Post

Opportunities and Challenges in the German Market Last week, we were lucky enough to welcome Ansgar Frankenberg, CEO and Founder of MMehr as a speaker to our LEAP FORWARD program. Ansgar discussed the key opportunities and challenges of entering the German market. He noted that achieving initial sales may take 3 to 6 months due to the need to build trust with local customers. Additionally, entering this market requires significant financial resources and cannot be done on a tight budget. He highlighted three key aspects of entering the German market: 1️⃣ One-Size-Does-Not-Fit-All: Ansgar cautioned against using a "one-size-fits-all" sales and marketing strategy. What may be a "nice-to-have" in a startup’s home market could be a crucial differentiator in the German market. Adapting strategies to local preferences is essential for success. 2️⃣ Personal Connection is Key: Customer acquisition in Germany relies heavily on personal interaction. Trust-building is a slow but essential process, and language proficiency plays a significant role. However, it’s not just about language skills but about creating a genuine connection with customers. Automated customer acquisition models are less effective in this market. 3️⃣ Local Representation is Needed: Ansgar emphasized the importance of having a dedicated local representative or team for effective market entry. While some markets may embrace digital interactions, Germany’s slower digitization means that face-to-face meetings remain the preferred method of communication. #leapforward #intentional #dkstartups #enteringthegermanmarket Industriens Fond