How Does Mark Scale AlphaSense, an AI-driven Market Intelligence Unicorn, in APAC?

Welcome back to Maven Club, where we dive deep into go-to-market strategies with top leaders across APAC. In today’s edition, we’re excited to share insights from a recent conversation with Mark, the APAC Regional Director at AlphaSense. Mark brings a wealth of experience expanding AlphaSense, an AI-driven market intelligence company, into a competitive and diverse region like APAC. His journey provides valuable lessons for companies looking to expand into new markets, especially those that differ significantly from their home regions.

Who is Mark?

Mark is a seasoned sales and go-to-market leader with a global career spanning over 11 years in Asia, including six years in Australia and a background in the UK. He has held leadership roles at companies like Stripe and Mintel, where he built out enterprise and regional businesses. Currently, he leads AlphaSense's APAC operations, driving market expansion.

The Importance of Market Intelligence and Data-Driven Decisions

"The decision to focus on specific verticals like life sciences was data-driven. It wasn’t just about the size of the market, but about how well our product could solve their unique challenges."

Mark emphasized the critical role of data in designing a go-to-market strategy. Before AlphaSense entered APAC, they carefully analyzed the landscape to identify where their product had the most product-market fit. 

Key Considerations:

• Targeting the Right Verticals: Mark explained that AlphaSense focused on industries like life sciences and TMT (Technology, Media, and Telecommunications), where their platform could alleviate the complexity of navigating vast amounts of unstructured data. This decision was data-driven—AlphaSense reviewed the industries where their product could have the most impact, then strategically entered those sectors.

• Localized Strategy: While data helped AlphaSense identify potential industries, they had to adapt their approach for each country. For example, selling in Australia required a different strategy compared to selling in Taiwan. In Australia, they found success by focusing on multinational companies with complex data needs. In Taiwan, the local business culture required them to build trust and relationships before diving into sales pitches.

Challenges of Expanding into APAC

"We initially used a tiered approach for entering APAC markets, but we quickly realized that the opportunities didn’t always align with the tiers. Some non-prioritized markets showed more promise than expected.”

Expanding into APAC is fraught with challenges due to its diverse cultures, languages, and business landscapes. Mark shared how AlphaSense navigated these complexities and adapted their go-to-market strategy for the region.

Initial Challenges:

• Market Prioritization and Realignment: AlphaSense initially used a tiered approach to prioritize which APAC markets to enter. They categorized markets like Singapore and Australia as Tier 1, while others, such as Malaysia or Taiwan, were placed in lower tiers due to market size. However, this approach had its limitations. For instance, non-prioritized markets sometimes presented unexpected opportunities. Mark highlighted that some clients in non-tiered markets showed immense potential, prompting AlphaSense to shift resources and realign their strategy for greater flexibility.

• Hiring and Culture Gaps: Recruiting the right talent was another major challenge. AlphaSense initially sought local hires in each market to bridge cultural and language barriers. However, Mark soon realized that relying solely on local hires without AlphaSense’s product knowledge led to slower progress. 

Overcoming Challenges:

To overcome these hurdles, AlphaSense adopted a more flexible market strategy. For example, when they realized that their tiered approach was limiting their potential, they allowed their sales team to pursue opportunistic deals in non-prioritized markets. This helped them uncover hidden opportunities in countries like Malaysia, where certain industries had high demand for AlphaSense’s solutions.

Additionally, AlphaSense began supplementing local hires with more experienced talent from other regions, ensuring that there was always someone with a deep understanding of the product to lead conversations. This blend of local expertise and product knowledge enabled them to communicate more effectively with clients and overcome the cultural nuances of APAC.

Sales Strategies: Curiosity and Value-Driven Selling

"I always say that curiosity is a sales superpower. The salespeople who really succeed are those who take time to understand the client’s business and challenges, not just those who push product features."

Mark emphasized the importance of curiosity and value-driven selling as key components of AlphaSense’s sales strategy. He believes that successful salespeople are those who ask the right questions and focus on solving the client’s problems, rather than just pushing products.

Key Sales Principles:

• Curiosity as a Superpower: Mark highlighted that the best salespeople are genuinely curious about their clients. Rather than just pitching AlphaSense’s product, they engage in deep discovery to uncover the client’s pain points. This allows them to tailor their pitch and demonstrate how their solution can solve real business problems.

• Value Over Product: AlphaSense’s sales philosophy centers around providing value, not just selling features. Mark mentioned that his team avoids rushing into product demos. Instead, they emphasize consultative selling, where the goal is to help the client make informed decisions. This approach builds trust and helps AlphaSense position itself as a long-term partner rather than a vendor.

Testing New Markets: “Test, Prove, Accelerate” Framework

"The key is to test small, prove the concept, and only then accelerate. It allows us to minimize risk while ensuring that the market is ready for our product."

Mark introduced a structured framework for entering new markets, which AlphaSense follows rigorously: Test, Prove, Accelerate. This approach allows the company to enter new markets in a methodical and scalable way, ensuring they make data-driven investments.

The Framework:

• Test: AlphaSense starts by conducting small, controlled experiments in new markets. For example, when they entered Australia, they hired just a few salespeople to test the waters and gather initial feedback. This allowed them to minimize risk while identifying early signs of product-market fit.

• Prove: Once AlphaSense sees initial success, they focus on proving that their product can gain traction in that market. This stage often involves refining the sales process, adjusting the messaging, and learning from early clients to ensure that the product is resonating with local needs.

• Accelerate: If the market shows promise, AlphaSense scales up aggressively, investing in more resources, whether that means expanding the team or doubling down on marketing efforts.

Building and Hiring the Right Sales Team for a Startup

"Hiring the right talent isn’t just about finding someone with a big-name résumé. It’s about finding people who’ve demonstrated perseverance and the ability to thrive in uncertain environments."

While it may be tempting to hire someone with a vast network of contacts—Mark warned that this approach often doesn't work. Instead, AlphaSense focuses on finding candidates who possess resilience, grit, and the ability to adapt to the unique challenges of startup life.

Key Hiring Criteria:

• Resilience Over Prestige: Mark emphasized that while hiring from big-name tech companies can be tempting, those candidates may not always be suited for the fast-paced, high-pressure environment of a startup. Instead, AlphaSense looks for individuals who have demonstrated grit and resilience—people who have stuck with a company through tough times and navigated challenges successfully.

• Coachability and Adaptability: During AlphaSense’s interview process, candidates are put through a role-playing exercise where they must simulate a client interaction. This exercise helps evaluate how curious the candidate is and how they approach discovery. After the initial role play, the team gives feedback and watches how the candidate responds. This process tests the candidate’s coachability—an important trait for startup success, where adaptability and continuous learning are crucial.

Leadership Matters More Than Product

"A great product can only take you so far. It’s the leadership that is crucial for navigating tough challenges.”

One of the key lessons Mark has learned throughout his career is that leadership is often more important than the product itself. While a great product can give a company an initial edge, it’s the leadership team that sustains success over the long-term.

Why Leadership is Key:

• Strategic Thinking and Longevity: Mark explained that when he joined AlphaSense after working at Stripe, one of the primary factors in his decision was the leadership team. He saw that AlphaSense’s leadership had been in place for a long time and had successfully navigated the company through various challenges， and this gave him confidence.  

• Smart Growth: Mark also emphasized the importance of leaders who know how to grow strategically rather than just chase rapid growth. He warned that growing too fast without a solid foundation can lead to collapse, while methodical and deliberate growth ensures long-term success.

We hope Mark’s insights into navigating the complexities of the APAC market have provided you with actionable takeaways on data-driven decisions, curiosity-driven sales, and the importance of hiring resilient talent. His strategies for overcoming market challenges, testing new opportunities, and prioritizing leadership over product offer a valuable roadmap for startups aiming to expand globally. 

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