To create sustainable, profitable growth requires a coordinated, prioritised and realistic strategic business development plan.
Real business development comes as a result of combining marketing strategy and tactics with the closure of sales opportunities through appropriate channels.
Business development happens through using carefully chosen planning techniques and balancing smart goals and targets with considered, commercial realism.
To begin, it’s vital to work systematically through a 10 step marketing process to create the environment from which profitable sales opportunities can be secured.
This approach allows for launch, consolidation and growth of new business in selected marketplaces and regions.
Effective marketing planning, the essential first step in creating a profitable sales funnel, is a four stage process that takes companies seeking growth through ten stages from research and planning to delivery, the results and incremental profit from which will help to ensure a long term future for their products.
The Research stage includes local market audits, competitor analysis, scaling of market size and prioritisation of opportunities against the capabilities and resources of the business.
The Planning stage creates smart, strategic objectives and a marketing strategy as well as plotting customer journeys to ensure the sales and marketing experience is optimised for distributors, partners and customers alike. Identification of the Unique Selling Proposition as this stage is key and sets the business apart from the noise of the competition, thereby warming up the potential for lead generation in preparation for complimentary sales activities.
The Delivery stage looks after the launch and ongoing tactical marketing to support sales growth in selected territories. Crucial to this activity is the creation and roll-out of an engaging content strategy which will potentially also open up opportunities for further product introductions into chosen distribution channels in the future. The most effective sales and marketing activities now focus on delivering positive customer outcomes rather than simply the features and benefits of products. Understanding and communicating how the products add real value to the customers’ world, is at the heart of successful business development.
The Reporting stage is all about results and these take the form of a business development dashboard to ensure continuous and ongoing improvement is made to the marketing and distribution plans to maximise profit for, and return on investment across the product portfolio.
We have helped hundreds of successful companies plan for their future. For help in creating a coordinated, joined-up and consistent plan for 2017, do get in touch with us.