Starting a new business is far more than simply hanging a sign out and waiting for customers to pour through the door and I’m sure anyone willing to invest in a new venture is well aware of this fact. Experience of sales or marketing is usually required. You’ll more than likely be looking to identify new markets, new partnerships, new ways to reach existing markets, or new product or service offerings to better meet the needs of existing markets. Its products and services are gaining acceptance in the marketplace and customers are patronizing them in increasing numbers.
Older, traditional service businesses may take a decade or more in the trenches before hitting a solid growth stage. This course is designed for sales and business development professionals who wish to improve their results with new and existing customers. Business Development Strategies is essentially a marketing function, though it involves some minor sales skills like negotiation.
When a company starts up, you’ll probably have one or two salespeople that have a weird profile. Additionally, business developers need the skills to build relationships with potential partners or prospects. While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance.
Although a business developer must have some sales skills, they must also understand basic principles of marketing and apply them in their role. If your sales team’s close rate is below 20%, they’re either not closing as well as they should, or your leads aren’t qualified enough.
Learning the proper lingo is only part of a business development certification course, however, and there are other communication skills that will go along with this. Separating business development and sales within your organization is no exception. The primary role of the Business Development Manager is to prospect for new clients by networking, cold calling, advertising or other means of generating interest from potential clients.