Five Business Development Myths

Posted: 17th June 2019 14:03

Business development is a process that has continued to evolve with the times. It is also a process that has continued to divide opinion as to the best approach. There are a number of new business agencies out there, with Alchemis being a leader in the lead generation industry. Their offering also includes business development training which can provide very useful strategic and implementation benefits to those looking to grow their business.
There are a number of myths that they have come across. Here we cover the top five:
5) Once you have retained a client, business generation ceases

This is a point that could not be further from the truth. It is very important to continue the communication process with retained clients. Keep an update on their progression, as their needs could have changed since your last conversation. You should always adhere to the needs of current clients, as in the end this could be the difference when it comes to retaining them in the long term. It has now become a popular approach to gather feedback from clients as this can add value to the work you are doing and if you need to change.

4) Clients want sellers to do the talking
When it comes to selling, this is a part of the process that has continued to evolve. You should not just spend all your time talking at the potential clients but, most importantly, ask them good questions in order to help build your research. This can also help when it comes to providing the current service that the client desires.
3) One size fits all in marketing
This is certainly the most important aspect of marketing. One size never fits all. Marketing needs to be tailored to the specific potential client, as their needs will be far different from others. This is why in the past reading the same script to potential customers in cold calling has not had the same success as the tailored approach. Business development training and consultancy can go a long way in landing regular clients.
2) Once the marketing department develops a strategy, only then should the Sales professionals step into the business development process
The sales team are of course the key part of the business as they are there for the growth long term. This is why they should work with the marketing department to develop skills and ultimately come up with a strategy to grow the business.
1) Business development and marketing are interchangeable terms
Business development is the start of the process as it is about locating your target audience. This then leads on to business generation and marketing in general. It is all about getting your business or client noticed, which can be done through a number of things such as media outreach and networking.