Creating Engaging Business Development Strategies

Post date: Oct 04, 2016 7:43:14 AM

Business development, or biz dev, for short, used to be ambiguously defined in the past, even being erroneously equated with sales. Generally speaking, business development is creating long-term value and developing growth opportunities out of the interaction among the business’ customers, markets, and relationships.

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While sales is focused more on generating revenue and looking for revenue streams for the organization, biz dev involves assessing partnerships and leveraging revenue to enhance products or services.

Business development strategies need to be as engaging as possible to foster further sales deals.

Firstly, formulating a framework that assesses opportunities can help the organization zero in on deals and meetings that make sense for the company. What contributes to its revenue, leads to new users, and enables the company to engage a new market should be prioritized.

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The sales discussion should then be more about the prospective customer, and less about selling the products or services. The more client-focused a sales presentation is, the more engaged the customer can be.

Additionally, because modern customers have higher expectations more than ever, educating them or challenging their way of thinking about their needs, then providing them a way to address these needs can capture their attention and lay the groundwork for a beneficial partnership with them. Prospects need more than just a price nowadays; they are in search of solutions.

After years of experience in the automotive industry, Jeff Lupient has become proficient in many skills, such as business development, car dealership, and sales. For more information about his work, visit this website.