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Francisco Cortes | Effective Business Development Strategies Over the past few years, companies all over the world have become aware of the importance of business developers. They identify the value they bring to the organization. Still, not all organizations fully understand what business development managers do exactly. Let us say you have just shifted into a business development position from a sales or a marketing background. Big businesses normally provide their employees with training and orientation. Small and medium size firms on the other hand generally lack such operations. If you find yourself confused about what to do, then keep on studying. In this article, we will discuss business development exercises that successful business development managers follow to ensure success in their work. These main techniques are divided into three main parts: ●

Business Development Activities

Enhancing Public Image

Increasing Market Exposure

Business Development Activities Market Research Executing market analysis is highly important in order to understand your company’s present position and figure out where it is headed. There are three steps Francisco Cortes recommend for effective market research activities: Conduct research about the business you are in, the geographical area you cover and the market section you are targeting. There are many beneficial ready-made records you can find online to get details about market trends and value. You can then evaluate your market share out of the total market value.

Do analysis for contracts, bids and possibilities of collaboration with other companies. Your company can maximize its revenue channels by seizing this opportunity. Subscribe to industry-related data source, forums and websites. These can be of great value to you, particularly if you are in the construction or building market. They provide comprehensive information about all projects within your area from concept to delivery. This can save you a lot of time when gathering information and vastly reduce your market intelligence efforts. Use them smartly to gain leverage over your competitors.

Competitive Analysis Once you understand everything you can about the products/services your company offers, you continue with competition research. You have to learn about your competition in order to recognize where you stand. This will also help you identify your desired market positioning.

Current Client Relations Perform warm calls with your existing customers, in order to assess the company's latest situation and what you doing right/ wrong. Assess your strong points, weak points, opportunities & risks and ensure your consumers are not being tempted by other competitors. Build a close connection with your clients, through the use of emails, phone calls, face to face events and technical product presentations in order to assess your client demands and needs. Do not forget to provide them with the most recent copy of your advertising material.

Reach Out To New Clients Determine your main target audience sectors, and then classify the main companies you want to approach within these sectors. Conduct cold calls with the preferred company and arrange meetings in order to identify their current provider or service provider; find out why they are presently working with that supplier/ service provider and if they were satisfied with their current provider; then tailor your sales pitch based on the given responses to win the business.

Email your promotion materials to existing customers & possible clients within your target audience in order to increase awareness about the latest items you added or new services you provide.

Networking Events As a BDM, investing your whole day inside the office will not be the most effective use of your time. You need to spend your time as well to meet people related to your market. Participating in networking events can be of great value to you. Attend market-related events like exhibitions, seminars, conferences and trade shows to be in contact with new, potential customers. So, as a Francisco Cortes point of view attend as many business related events as you can. Make sure you follow up with a thank you email to every person you meet the following day.

Enhancing the Public Image This approach addresses the company’s image and how it is observed by its different stakeholders. The organization is a brand, and like any brand, you cannot manage the way clients perceive it. However, you can always try to impact your audience opinion. This can be obtained through the following:

Website You can work with the advertising division or marketing specialists on improving the company website, making it more user-friendly, with a clear call-for-action message in order to transform views into actions. An improperly designed website can drive people away from your business and can make you lose clients before they get the chance to know your product /service. Make sure your web page is ‘responsive’. Responsive means that your website is able to adapt to numerous browsers and can fit to multiple screen sizes, depending on the gadget used to view it.

Branding There should be only one integrated communicating theme that controls all the aspects of your brand. Whether online or offline your brand must indicate reliability. Creating and applying the rules below in compliance with your brand guidelines will make sure your company image is unified, cohesive and professional. Addressing your clients in English is also important. You also need to think about your target audience, therefore adding the native language of your target audience is as significant.

Increasing Market Exposure Optimize your online presence Conduct an online reputation management analysis, this would ensure that all content, posts, videos and feedback out there present your brand in a positive way. Grow your company presence over different social media platform and ensure you choose your platforms according to your target audience (Facebook, LinkedIn, Twitter, etc.) Develop content to post on your various social media platforms, such as press releases, success stories, case studies, promotional videos, ongoing training activities, recommendations, etc. Increase your online exposure by implementing search engine optimization approaches to improve your online visibility.

Conclusion By using the above techniques, you can get ahead of your colleagues and show a professional impression in front of your superiors. Make sure you get higher management support for your activities. Present them with a strategy of what you want to do. They need to believe that what you are doing is in the best interest of the business. You will find that without top management support, achieving the above strategies will be challenging if not impossible.

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Francisco Cortes - How to develop an effective Business Growth Strategy  

Register to the market-related data source, forums and internet sites. These can be of fantastic benefit to you, specifically if you are in...

Francisco Cortes - How to develop an effective Business Growth Strategy  

Register to the market-related data source, forums and internet sites. These can be of fantastic benefit to you, specifically if you are in...


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