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• Why do I need a Business Development (BD) plan?
• What is a BD plan?
• What are the building blocks of a BD Plan?
• Strategies and Tactics you can take back
Actions that improve the performance of the enterprise, its access to markets, and its ability to compete.◦ Marketing◦ Sales◦ Customer relations management
SalesGrowth
Customer AnalysisCustomer Analysis
Competitor AnalysisCompetitor Analysis
Channel Mgt.Channel Mgt.
Market AnalysisMarket Analysis
Sales & Territory Mgt.Sales & Territory Mgt.
Selling StrategiesSelling Strategies
Strategic PlanStrategic Plan
What does a solid BD Plan look like?_____________________________________________________________________________________________________
Executive SummaryOrganizationCompany HistoryMarketingOperationsFinancial
If you don’t know where you want to go, any road will get you there.
“Those who ignore the Business Development Process are committed to Management by Luck, resulting in stagnation and failure.” states the Foundation – Small Business & Economics
Why?______________________________________________________________________________________________________________
Product Place Price Promotion 5th P? – People!
• Who are they?• How do you compare?• Remember - Your customers are your competitors
prospects!• Have customers thinking “easier, faster, safer.” • Develop case studies to reinforce
•Total market size•Reference USA•J. J. Hill Library•Surveys•Government trade
•What market share do you want/can get?•Geographical locations & limitations•Other alternative or new markets
•Direct sales•Distributor network•Sales Representatives•Direct mail, catalogs, telemarketing•eCommerce•Mix and Match
All the ways you tell your customers about your products or services
Caveat - Whatever may be working today, will sooner or later stop working
That means - If you always do what you always did, you always get what you always got!
Positioning Strategies Differentiation and Value Added
Service (Lexus) Delivery (FedX) Price (Walmart) Quality (Mercedes) Technology (Iphone)
Your offering and campaign focus
Target the right customers
Target the right people
Resources and Logistics – 3 T’s◦ Time◦ Talent◦ Treasure
Focus on what is critical to BD efforts and overall directions; i.e. generating new customers, retention, recapture, or referral business.
• Sales forecasts• Gap Metrics:
• Increase # of prospects seen by 6-8%• Improve closing rate by 7-9%• Increase average revenue per sale by 10-14%
• Different …• Products for different markets• Distribution networks• Promotions
Define an “ideal” client Rank your customers i.e. A to F! Who are your top 3-5 largest companies?
Are these “ideal” If these are not top-ranked, who is?
What have new customers purchased and how have they found you?
Knowledge is power - Use this knowledge to find new customers and new markets
5th P?? - People◦ Every single decision and policy in your
organization needs to be carried out by a specific person in a specific way
◦ Find, hire, train, and retain the right people◦ Network and grow strategic partnerships
SalesGrowth
Customer AnalysisCustomer Analysis
Competitor AnalysisCompetitor Analysis
Channel Mgt.Channel Mgt.
Market AnalysisMarket Analysis
Sales & Territory Mgt.Sales & Territory Mgt.
Selling StrategiesSelling Strategies
Strategic PlanStrategic Plan
Your Business Development Plan –
• Set a solid BD foundation for your Success• Now, you are ready to build your business!
•Train
•Hire
•Outsource
•Combination
www.deed.state.mn.us/bizdev www.sba.gov/ www.ptac-meda.net/ www.linkedin.com www.marketingsherpa.com www.business.com www.webmarketcentral.com/index.html www.surveymonkey.com http://money.cnn.com/magazines/fortune/ www.salesandmarketing.com www.entrepeneur.com http://bizfinance.about.com/
Email: [email protected] Web: www.greenthumb-bizdev.com Cell: 651.233.3663 Find me on:
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