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Business development is the process of finding the match between a product (or solution) and a segment in the market.

Business development will work very closely with product management on the competitive positioning and the feature set as well as with marketing for developing the most productive definition of the value proposition, the identification of the most effective communication channels and the most cost/effective lead generation process. This match-making process is based on continuous and close interaction with potential customers. The objective is not revenue generation, but finding the right product-market fit.

This is very much needed when we move into a new market (which may also be a new geographic market) where the environment is different from where we are already operating, then we need to go through the business development process first before we employ sales resources.

 

What Is Business Development?

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. 

Sales, strategic initiatives, business partnerships, market development, business expansion, and marketing – all of these fields are involved in business development but are often mixed up and mistakenly viewed as the sole function of business development.

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A marketing consultant is an outside advisor who works with companies to create and implement marketing strategies.

A consultant helps create a detailed marketing plan, determine a business’s marketing message, and identify the appropriate marketing mix to get the message out to the target market.

Most consultants are also involved in implementing the marketing strategy. They often help monitor results and tweak campaigns as they go to ensure that companies get the best results from their marketing efforts.

When to work with a Marketing Consultant

Both small businesses with no marketing experts on staff and large companies with a dedicated marketing department can use the advice of a marketing consultant.

Hiring a marketing consultant can:

  • Supply specialized skills and expertise that a company lacks.
  • Provide an external viewpoint to internal challenges.
  • Prompt a new perspective on customers or marketing strategies.
  • Allow a business to focus on product development and overall operations.
  • convert your target audience into customers,
  • retain your current customer base,
  • improve sales and revenue, and
  • grow your business and brand.

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Sales is the process of systematically generating revenue with the product (solution) in the chosen market segment in the race for market leadership.

Sales is the tactical process of revenue generation when we have proven and documented product/market fit and defined the most effective way to support our customers’ buying journey. To achieve market leadership we will have to continuously scale and optimize our sales operation, which means hiring more and more salespeople (or recruiting more and more channel partners). We can define compensation plans with realistic objectives and quotas and we can benchmark salespeople against each other, optimizing the sales process.

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In management, information technology consulting (also called IT consulting, computer consultancy, business and technology services, computing consultancy, technology consulting, and IT advisory) as a field of activity focuses on advising organizations on how best to use information technology (IT) in achieving their business objectives.

 

There are different reasons why consultants are called in:

  • To gain external, objective advice and recommendations
  • To gain access to the consultants’ specialized expertise
  • Temporary help during a one-time project where the hiring of a permanent employee(s) is not required or necessary
  • To outsource all or part of the IT services from a specific company.

The 3 Pillars of Market Share Growth

While discussing your business, we will also show you how to cheaply and easily use the 3 pillars of market share growth to strengthen your business and make more money.

Visibility & Exposure is required to survive in your business. If no knows you, no one can buy from you. And if no one buys from you, your business is shutting down as surely as it started.

To get your business visible & exposed, request your free consultation below.

How is it possible to have an ever-increasing profit margin? Automation and Digitization does the trick. If you can serve more customers in the same time cost, your margin will skyrocket.

And what happens if you can serve the same number of customers for a fraction of the cost? Profit becomes your second name… lol.

To get your business automated and digitized, request your free consultation below.

A happy customer is a buying customer. A happy customer is a referring customer. A happy customer is a satisfied customer. 

Why won’t anyone want a happy customer? Grow your brand reputation and satisfaction to keep your customers happy forever.

To increase and maintain your business reputation and satisfaction, request your free consultation below.

Learning to use the 3 pillars enable you to:

Without a constant stream of customers, no business can survive talkless of thriving. Take advantage of our Covid-19 Business Help offer to discover ways of getting more customers into your business.

It is said that the easier person to sell to is someone who has bought from you before. So isn’t it wise to strive to maintain every single customer you gained? Our Covid-19 Business Help offer can help you explore effective ways to retain your customers.

If your cost is nearly as high as your revenue, your business is going nowhere good. Most business can easily slash their cost by 40% simply by reviewing, optimizing, and if necessary digitizing some of their processes. With our Covid-19 Business Help offer, we can help you uncover how to increase your profit margins by slashing your cost.

Getting These Assets is Surely a Good Place to Start

WB DevWorld creates affordable visibility assets for your organization and products such as:

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Grow your market share and keep your business off life support machine.

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