Business development requires a multi-disciplinary approach and there is no ‘one size fits all’ strategy. Our business development consulting approach includes business analysis, development of business unit strategies, and successful market implementation. Every client is different, so a strategy that works for one client may not work for another; business consultants have several strategies that will work for most clients, and they can teach businesses all about each one.
Some prospects need to connect with a sales team member who has a deep understanding of their industry, market or niche. Identify opportunities for campaigns, services, and distribution channels that will lead to an increase in sales. Also, I’ve noted that a number of engineer or scientist CEOs tend to discount the role of business development, as if the science behind the product is really what sells the product.
As our Business Development Manager, Not-for-profit, your top priority is to drive the revenue goals of the company by positioning Traction’s service offerings as the best solution to achieve our customer’s vision of success. When they purchase products and services from a company that gives back to the community, they also feel that they are giving back to the community when they purchase goods and or services from that company as well.
A good business developer is capable of continuously adjusting and fine-tuning the strategy based on changing (market) conditions and opportunities. If you ask five people what they think business development is, you will get five different answers. Monitors and analyzes new technology and trends within all revenue areas to pursue ongoing operational and technology improvements, including processes, procedures, systems, and tools; as well as propose potential new products and services.
The ability to evaluate whether a potential customer is qualified or a partner has access to members of the target audience is a necessity in business development. Every company or business has its own competitors in the particular industry that it is in. Get to know the top competitors to your company.