Key in your market entry strategy is some market research. Of course there are reports on market size and market growth, but often these are general. Specific knowledge on how your product is perceived and what your competitions is, is harder to get but more valuable.
Canada, is the second-largest country in the world by land area, but also an interesting economy, and can be a trial market before going to the United States. As of 2023, it has an estimated population of about 38 million. Known for its vast landscapes, multicultural cities, and bilingual heritage (English and French), Canada is a symbol of diversity and environmental richness.
Economically, Canada has a high GDP per capita, standing at approximately $48,000 USD in 2023. The country’s economy is highly diversified, with key sectors including natural resources, manufacturing, and services. Natural resources like oil, natural gas, minerals, and timber are significant economic drivers, particularly in regions like Alberta and British Columbia. The service sector, including banking, insurance, and tourism, plays a central role in the national economy.
Major cities include Toronto, the financial hub and largest city; Montreal, known for its culture and bilingual community; Vancouver, famous for its natural beauty and port; Calgary, a key center for the oil industry; and Ottawa, the capital city known for its political significance and cultural institutions.
The best preparation for doing business in any country is visiting it. This way you can experience the culture, check the shops and build your network.
With Trip.com you can compare flights and also book your hotel.
Hotellook compares different hotel sites so you always have the best rate.
Localrent connects you to national rental car providers per country.
If you have a consumer product that you can’t sell directly from your home country to your end customer, you need at least one step in between. This can be a distributor (who also acts as wholesaler or importer), a big retailer directly, or it can be a large web shop. Let’s look at the pro’s and con’s of each option.
For a B2B product that is not a commodity or for customized solutions the story is different. Here sales needs to be done in alignment with the department that actually delivers the service or that determines the price case by case. Also then you have three different options.
As counts for any country: you first have to define the target group that you want to sell to. If these are businesses, then you can reach out directly through emails and targeted advertisements, e.g. on LinkedIn. If this arouses interest and gives a sufficient response rate, then you may have found an easy way to get the market’s attention.
If your target group is more diffuse, or is a consumer group, then you have to rely more on advertising such as on Facebook or Instagram.
With the tooling of our partner Instantly.ai you can define your target group, whether it’s 50 or 50.000 people. Send them a sequence of emails, directly in their inbox, for typically under 10 dollarcents per persoon.
First determine who are the end-users of your product or service. And where do they buy it now? The best way to determine the right entry strategy is to approach these parties. Would they consider your product or service as an alternative? Do they agree with the positioning that you have in mind? And what competitors are they buying from now? These data will help you determine the right strategy.
