Tips for Business Development

This article is focused on providing the key place to start when looking for the best tips for business development. This is going to help you get the results that you want. Reaching your business development goals don’t have to be overly complicated. You just have to be ready to think a little and act on what you learn in the process we are about to cover.

Our first and most important step when thinking about business development is understanding your business successes or lack of business success.

The easiest way to do that is to asking yourself these key questions:

The questions that focus on your strengths and weaknesses in relationship to our competition strengths and weaknesses will give you the most profitable understanding of your next steps. Include your unique selling proposition, your marketing & fulfillment strategy, contacts, as well as your ability to maintain the relationship with your customers over a period of time.

Looking at your strengths will help you understand more about your opportunities you can be developing right now.

Looking at your weaknesses provides an equal opportunity to discover hidden opportunities to advance your business development. One of the key questions to ask yourself is:

What is your biggest challenge standing in between where you are now and where you want to go.

Remember we can’t make the most profitable business development decisions with the resources we have available unless we understand exactly where we are at the present time and how we got to where we are. So take the time to get clear so you can make better decisions about your next steps.

Would You Aim for a Business Development Manager’s Role?

The presence of an efficient business development manager is crucial to a business’ existence. It is one of the key roles of this age, that every business seeks to fill in, hiring a strategic planner, who can grow with the company. Those employed as the business development managers look after his/her team’s collective effort, looks for potential clients in the market, defines the target audience, and if needed, even redefines the company’s objectives.

These are top-level executives, who remain I contact with the management. Their ultimate goal is to create new business opportunities and ensure the company’s long- term growth. The term ‘business development’ can be described as an amalgamation of strategic planning, sales and marketing. Those holding more than 5 years of experience in sales can also be considered for this position. Besides, many leading firms consider MBAs to be hired as business development managers. Most commonly, those hailing from sales are seen heading for these career options. However, business development has a lot more than just sales, but the sales professionals are found suitable to fit in these jobs.

Job Description

  • Defining target audience and looking for potential clients
  • Preparing strategies to pitch the products to clients
  • Marking team’s collective efforts and keeping a checking on the lead generation
  • Representing the organization in the corporate events
  • Preparing monthly reports and analyzing the same
  • Providing essential data to the management
  • Taking essential steps for corporate associations
  • Identifying new sales opportunities
  • Working in coordination with other departments such as sales & marketing

Key elements for a business development manager’s role

For every business development manager, the following elements are of great significance.

Business Acumen

A business development manager can explore job opportunities in numerous sectors, including FMCG (Fast Moving Consume Goods), IT (Information Technology), Finance, Manufacturing, Consulting, and others. In any of these sectors, an understanding of the industry and the business is needed for the professional to possess. It will not just help him conveniently take on the role, but will also take the right decisions with an understanding of the business.

Management & Research

He plans as well as manages to take the business the next level. A professional serving as business development manager has to lead the team and direct it to the right path. For this, leadership and management are of great essence. Besides, research too is a major element for these professionals. They need to research well about the market, the prevailing trends, the customer’s requirements, and so on.

Strategic Planning

The business development managers are also involved in planning the campaigns to target the potential clients. They may even look for marketing and sales related data for the same.

Customer Service

Another major element remains the customer service. They need to ensure whether the customer their team is dealing with, is entirely satisfied with the services. They also need to constantly check on a crucial deal that has not been closed.

The Other Essential Details

In the recent years, the need to hire these professionals has been realized by most of the brands. They can explore the job offers from varied sectors as per their preferences and knowledge. However, some of the leading organizations they can aim to work with include Infosys, Deloitte, KPMG, Ernst & Young, Wipro Technologies, Cognizant, and many others. Further, these professionals can expect to earn Rs 578,392 per year in India.

Business Development Steps and Strategies

Business development requires a multi-disciplinary approach and there is no ‘one size fits all’ strategy.

Below are some of the ways available to help ensure business development:

o Identify – Before you can seriously plan for business development it is necessary to identify new business opportunities.

o Plan – Once new business opportunities have been identified you will need to decide how you can best reach those new customers and markets. If your in-house resources are already stretched, you may need to look for help elsewhere. The same applies if you find the capacity or skills for business development do not already exist within your business. Outsourcing is not always as expensive as you think and could work out more cost effective over the time needed.

o Develop – What innovative marketing plans can you develop to raise your business profile among your existing customers and new markets? You may wish to consider things that you haven’t tried before. It is important that everything you plan to do can be tested on a small scale first and that you build in the opportunity to fine tune your efforts.

o Implement – If your business is not at the stage to appoint a full time marketing director, at least hire an experienced business development professional to work with your company for a few days a month.

Commitment is the key to business development. If you want to see results you must persevere. If your attempts are sporadic or you give up, you will waste the time, money and effort that have already been invested into your business development programme. Be consistent.

Start an Internet Business – Digital Product Affiliate and Article Marketing

Online marketing is not hard as you think. If you do it right, give it your best effort and do it consistently everyday, you are one of the millionaires in this world. Now I want to teach you one of the best online marketing tactics that you can implement right away. If you really do this, you can see the result in 7 days. This tactic is called article marketing. I will guide you in this article step by step.

Step 1: Sign-up at Clickbank

The first step I want you to do is register an account at Clickbank.com. It is free. The reason for this is to make you able to sell their products. Clickbank has thousands of digital products for us to sell them and they give us commission as high as 75%.

Step 2: Select Topic or Niche Relates to You

Go to Clickbank marketplace. Right there, you can see the digital products were categorized in several topics. Go to topic of your interest and select a product to promote. Click the ‘promote’ button and enter your Clickbank ID and you will get your affiliate link. You will use this link to promote the product.

Step 3: Do Market Research (Keyword Research)

Market research is the essential step in any successful business. When is comes to online marketing, you must remember market research is synonym to keyword research. You must make research and know what actually people or your prospects type in the search engine to find solutions to their problems. And our role here is to provide them solution. Sell them our product to solve their problems. The free method to do keyword research is by using AdWords keyword tool. Just type in Google “AdWords keyword tool” and you will find it and start using it. Research the keywords about the product you choose and choose keyword wisely base on its traffic.

Step 4: Create Landing Page

A landing page basically is a page contains your review of the product you are promoting. Creating a landing page is easy. You can use free method like blogspot.com or WordPress.com. Setup a blog there and create your landing page. You have to include in the landing page your review of the product. You must make your review persuasive. You must put your affiliate link in your review. Your prospects will click on this link to buy the product and you get the money.

Step 4: Make Your Offer Reach Your Prospects with Article Marketing

Firstly, go to EzineArticles.com and register an account there for free. After you have an account, you can start publishing articles to promote your offer. You can write your own article but I recommend you to outsource it to someone else. You can go to place like rentacode.com, guru.com and elance.com to find someone to write articles for you. EzineArticles allows you to include an author resource box at the bottom of your article. You must put the link to your landing page inside of the author resource box. Readers will click at your link at your resource box.

Try out this tactic and let me know your performance. Click the link below to get contact with me and learn more about online marketing.