2. BUSINESS DEVELOPMENT STEPS
1. Establish targeting strategies
2. Research and identify the best targets
3. Qualify the targets identified
4. Develop the opportunities
5. Measure the results
3. 1. ESTABLISH TARGETING STRATEGIES
Set Realistic Objectives
Time
Resources
Focus on Your Best Targets
Target industries
Target markets
Types of companies
Site selectors
Decide the Best Avenues for Lead Generation
Campaigns
Marketing trips
Trade shows and conferences
4. 2. RESEARCH AND IDENTIFY TARGETS
Do Your Homework
Identify Companies
Create a target profile
Look for active companies
Consider the geographic footprint
Information resources
Identify Contacts
What titles are best
Information resources
Email addresses
5. 3. QUALIFY TARGETS
Have Dedicated, Scheduled Time and Resources
Have a Written Campaign Guide
Know the main points to get attention, customize as needed
Have your voicemail message ready
Engage admin assistants
Use both phone and email
Always ask a parting question
Be Persistent
Try several doors
Try multiple levels
Try different messages
Try different voices
6. 4. DEVELOP OPPORTUNITIES
Keeping Track
Use a CRM
Make sure to record statuses
Use it religiously
Managing the Pipeline
Stages of qualified leads
Nurturing opportunities
Staying in touch
Timing is everything
7. 5. MEASURE RESULTS
Use Your CRM Reporting
Campaigns and Activities
Sources of Leads
Best Performing Industries and Markets
When to Measure
Make Adjustments
9. CHALLENGES
Marketing versus business development
Finding the time and resources
Where are the best opportunities?
Staying focused on targets, and not chasing everything
Keep good, consistent records
Living with your opportunities
Measuring the efforts and outcomes