What's the difference between marketing, business development and client development?

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Unlike most consumer products, selling services such as accounting, real estate and architecture involve higher involvement and a longer process, especially highly regulated professions like law and medicine. Knowing the difference between the tasks involved can help. There are three basic components to the sales cycle - marketing, business development and client development. These three disciplines are separate, yet inter-dependent. This is a slide deck I created to illustrate the difference. Credit for the concept is often attributed to an article in Reader's Digest, which is in the public domain - publication date unknown.

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What's the difference between marketing, business development and client development?

  1. 1. UNDERSTANDING Marketing Business Development Client Development
  2. 2. Marketing is about influencing opinions andattitudes.Business Development is about influencing andencouraging action.Client Development is the retention, expansionand growth of revenues derived from existingclients.
  3. 3. Three Different, Yet Interdependent DisciplinesMarketing sets the stage, providing exposure ofproducts or servicesBusiness development connects people toproducts and servicesClient development, where everyone works toexpand existing relationships
  4. 4. MARKETING
  5. 5. “The Circus is Coming to Fairgrounds Sunday!!!” [Advertising]
  6. 6. Walk an elephant through town... [Promotion]
  7. 7. Elephant walks through the Mayor’s flower bed... [Publicity]
  8. 8. Get the Mayor to laugh about it... [Public Relations]
  9. 9. Get people to think of elephants, trapeze artists, clowns and fun, instead of carnies, pickpockets, whining kids andoverpriced fiberoptic necklaces required to stop the whining... [BRANDING]
  10. 10. If you planned the whole thing, that’s MARKETING
  11. 11. BUSINESS DEVELOPMENT
  12. 12. Add a birthday party option [Connection]
  13. 13. Ring Master shakes hands with parents and kids who attend.... [Encouraging Action]
  14. 14. Ticket buyers are so happy about theirexperience that they tell their friends... [Influencing Decisions]
  15. 15. If you planned the whole thing, that’sBUSINESS DEVELOPMENT
  16. 16. CLIENT DEVELOPMENT
  17. 17. Publisheducationalliterature forcircus lovers...[Stay top-of-mind]
  18. 18. Host a picnic for VIP’s...
  19. 19. ...where guests can mingle with performers …and receive an autographed poster...ride an elephant [Expand existing relationships]
  20. 20. If you planned the whole thing, that’sCLIENT DEVELOPMENT
  21. 21. Together, it becomes the story others willtell about your service, product or company!
  22. 22. Marketing, business development and client development are interdependent. Marketing sets the stage, providing exposure of products or services Business development connects people to products and services Client development involves everyone working together to expand existing relationships
  23. 23. www.lawgravity.com

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