For
a long time, I never really understood the difference between business
development (BD) and sales. I saw BD as sales with just a longer time to close.
That's not untrue, but what I didn't realize back then was that BD is really
the relationship-focused process to feed your sales funnel.
In
many cases this BD function is performed via traditional marketing (ads, direct
mail, etc.). If any part of your business can benefit from managing
relationships - and I can't imagine there are too many cases where managing
relationships wouldn't work wonders - you should have a formal BD process to
help you make the most of all your relationships.
So,
BD is the process of nurturing relationships with
potential prospects, future prospects, referral sources, clients, and inactive
clients to feed your sales pipeline (along with any other marketing approaches
you use). As with anything valuable, it works best when you actually have a
plan.
How are your sales? The last client I helped with this increased
his by 25%. E-mail us or give us a call (202-640-1908) and let's get those
numbers up for you.
Ingar Grev
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