Business development work in today's environment must be spread across all departments of the company, including marketing, sales, supplier and product management. Negotiations, networking, finding profitable partnerships and cost savings are also of great importance. Business goals govern all these activities and departments, as well as the interactions between them.
Implementation
To meet the sales plan, the sales people prefer to focus on either a specific set of customers or a specific market. For example, a company decides to enter New Zealand. The business development department conducts an analysis and realizes that sales of one billion dollars can be achieved within five years of operation.
Internal work for business development
Marketing specialists, taking botim database these goals into account, select a client base in the specified market and build an appropriate implementation strategy.
Marketing
The marketing department deals with advertising and promotion of the product for its successful sale. The specialists who work there play a significant role in fulfilling the sales plan. As a rule, the company allocates a certain amount of money as a marketing budget for the promotion of the product. Companies that allocate a small amount of funds for these purposes are satisfied with printed materials, advertising on the Internet and social networks, as well as various banners and other external PR.
Business owners who don't skimp on marketing can hold various presentations, visit clients, cold call their base and distribute samples of their products for free.
Strategic initiatives or partnerships
Developing a business in modern conditions is always associated with thoughts about whether to start working in a new market alone or to join forces with local entrepreneurs who are already working in this area? The company's financial and legal departments weigh all the risks and help the management make a decision.
Project management / business planning
Expansion poses another dilemma: should another enterprise be opened in an unfamiliar market, or should the product be manufactured in the same country as before, and simply imported into new regions? To solve such problems, companies create business development departments whose purpose is to assess the benefits, risks, time, and costs. Based on this information, the project management team develops the optimal strategy for achieving the goal set by management.
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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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