7 Effective Business Development Tips
Growing your business is what will take you and your company to the next level. It’s all about that balance between risk and strategy and most importantly adopting the right techniques with the right people by your side. Business Development is your answer to growth and success.
What is Business Development?
Business Development is all about the tasks and processes that will develop growth in your business. Implementing such growth opportunities can grow different sectors within your company and can introduce new clients to your portfolio. It is always wise to appoint a Business Development Executive in a growing team.
Finding your company’s right tactics to adopt new strategies and again new clients can be made easier with these 7 Business Development Tips:
1. Keep an eye on your competition
Knowing all the details about your competitors is what your company needs to keep an edge over the rest. Understand their pain points, identify what their best assets are and be better. There are so many ways you can trump the competition; be different, find your strengths and amplify them to create this most powerful tool for business development.
2. Give them a reason to trust you
Trust is the most important factor in any relationship, from our personal life to our connections with our colleagues and most importantly, when it comes to Business Development, with our clients. Giving your clients the time of day they deserve will amplify your chances of success with them.
What our clients need from us is simple. They want our advice and guidance – that’s the main reason they’ve sought your expertise; so prove to them that they’ve made the right choice in choosing you over your competition. Added value will be your saving grace in any business development attempt.
3. Testimonials for Business Development
If you’ve ever worked with a client, finding the right time to get that coveted testimonial is what will secure you your next deal. Word of mouth is by far the best means of promotion, and asking your clients to prepare a testimonial to feature on your website, be shared on your monthly newsletter or even appear on a Facebook share, is best done when you’ve achieved a huge task for your client’s business.
Everyone is happy with the success of a new website launch, so why not get your client’s opinion on your business development efforts when the positivity is soaring? This will show new clients your work ethic and help you draw in new business.
4. Online Reviews also for Business Development
In a world where the online word is so easily accessed, your online reviews will serve as great reference points for business development tactics. Keeping a clean and tidy Online Reputation Management (ORM) and Customer Relationship Management (CRM) strategy is what will keep your outward appearance in top shape.
Online Reviews are the modern word-of-mouth marketing that it thought to provide as much reassurance as personal recommendations. Keep this on track to boost your business development strategies.
5. Business Development needs Networking
The only way to make your way into a new business’ advisory seat is to meet new people within industries you’re interested in tapping into. This is where Business Development Executives need to turn up the charm, be themselves and show the world that their services will make a difference in their professional lives.
A good Business Development Executive is someone who makes an effort to know more about their clients, dig deep into solving their professional problems and show that they care about the company’s success.
Asking direct questions such as; “Would you like to get started on your business strategy with our company?”, will help you to get things started; if the conversation is never ending and the commitment is never made, it might be a good idea to set your eyes on a new potential client.
6. Check in on your website
Your website, social media pages, blog content and even your newsletters need to be up-to-date all the time. There’s no one day where ignoring an Instagram post will be ‘forgiven’ or ‘forgotten’ by your clients; current or potential.
If you are an Interior Design agency; promoting yourself for luxury design projects and your website is tatty and not very often updated, it’s doubtful you’ll get new clients knocking at your door. First impressions are the longest lasting; so be sure to give the market what they’re looking for.
7. Train, train, train your team
Training is the fuel that will push your employees to work harder and better – the simple reason, they’re gaining from the experience. Knowledge is what sets you apart in life, and gaining exposure to skills and techniques to triumph over any client queries gives your employees confidence.
Set reading assignments that can be followed up by Friday afternoon workshops every month. Develop a training course to be held every 3 months; allow your staff to book courses on platforms that relate to your company. Pick up the cheque and give your staff the responsibility to lead tasks, and add some sort of reward for their efforts.
Employees that work hard are ambitious, keeping them happy will keep them motivated and part of the team. Their knowledge and expertise will help them kill it in the business development department.
With these 7 effective tips and the right suit behind the job, there’s no chance you can lose client reputation or business gains. Always remember to show how great your company is and remain humble, while showing potential clients that you can kick some serious business-ass too.