What is Business Development?
Business development is the process of growing a business. – and will often involve all elements of marketing. Additionally you will need to utilise good business disciplines such as upselling and cross selling to existing customers, supplying exceptional service, ranging, merchandising etc. The list is long and extensive.
Business development for the small business is often focused around generating new business, making profitable sales to new and existing customers. The key tool for doing this is marketing.
Marketing
There are many aspects to marketing, however two important elements are to:
- Identifying what products and services the market wants to buy
- Communicating your products and services persuasively so that customers buy from you.
Business Development Marketing
Focusing on the second element (assuming your small businesses already knows what the market will buy), here are five top tips for business development marketing:
- Remember that online marketing should support offline marketing – you need both, so don’t neglect one.
- Use direct mail
- Use email marketing
- Raise the business profile through PR
- Develop a referral marketing plan
Business development advice can help every small business to grow. Helping to identify areas where costs can be reduced and providing ways to increase income. Find out more about business development advisors services.
Business Development Advice 