Business Development is an integral part of every business or organisation.
In the simplest terms, business development can be summarized as the ideas, initiatives and activities aimed towards making a business better. This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships, and making strategic business decisions.
The most successful business development however is not based solely on networking, prospecting and follow up. Here are some things you can do to make your business development more successful;
Listen carefully to the history and purpose of your organization. Know its’ services and products, and then target the consumer narrative, including who their current clients are; what their target client mix is; and who and where their target audience is, what they are reading, and what matters to them. Use this knowledge to create a strategy that will get your organization’s message across to the right audience and with the right tone and approach.
Bring the company’s products to life through storytelling. People relate so well to stories especially when it is around something they can relate to. Your organization will definitely do better in front of clients and/or investors, media, etc, when you incorporate the art of storytelling.
3. Firm Positioning
The storytelling strategy also works well with firm positioning: through the use of storytelling, you position your firm the way you want it to be perceived by the general public. How you want to be seen is entirely up to you, and you can put that same image in the minds and hearts of the public.
4. User Experience
Create a unique user experience for your customers. Making them feel special and giving them something to remember your organization by is one sure way to move your business forward. You will end up having plenty of repeat customers who will even become your brand ambassadors without you asking.
5.Continuous Marketing Planning. It is important to work with all levels of a business to create dynamic marketing plans on an annual basis, evolving the plan as needed based on hit rate, web analytics, client feedback, and proposal volume. Your firm’s website and social media channels should play an important role in broadcasting your message as well as news, events, and articles, enabling you to promote your brand promise and helping you win work.