Business
development
The overall goal of sales and marketing teams is to generate customer contact and
convert it into revenue. This is the core of business development, and it involves
a continual process of drawing in potential customers, enticing them to purchase,
and keeping them engaged. During this process, marketers and sales people use
a range of strategies and channels to attract customers and to earn their long-term
commitment to a brand and product.
Collaborative process
Marketing departments generate
brand identity while sales teams do
the selling. Working together, they
aim to take potential customers on
a journey from brand awareness
to repeat sales, communicating the
message through various channels.
Build brand
awareness
Target customer groups
with content and/or ad
campaigns to inform
them about the brand
and its values. This will
lay the foundation for a
long-term relationship.
See pp.234-235.
Generate leads
Use a combination of
inbound and outbound
marketing strategies
to entice potential
customers to seek
out the brand
or product.
See pp.236-237.
Convert leads
into sales
Once potential
customers are
interested, entice
them to buy
with targeted
messages, offers,
and well-designed
e-commerce sites.
See pp.238-239.
Advertising
Public
relations
Social
media
Live events
Email blasts
Telemarketing
Face-to-face
communication
US_232-233_Business_Development_OVERVIEW.indd 232 21/11/2014 16:26
232 233
how sales and marketing works
Business development
15%
of companies have
specialized business
development staff who
are not involved in sales
Retain customers
Follow up sales with
efficient delivery,
excellent customer
service, and
personal contact
to reinforce
positive customer
relationships. See
pp.240-241.
Loyalty
programs
Special
offers and
updates
Call center
REVENUE
BUSINESS DEVELOPMENT
STRATEGIES
Review
effectiveness
Track marketing
spend on each
channel and analyze
results to gauge
return on marketing
investment (ROMI).
See pp.242-243.
Analytics
tools
Return on
investment
(ROI)
Traffic-
driving
to website
Develop
intellectual
capital
Nurture talent
and foster
creativity in
order to
optimize ongoing
marketing e f fort s.
See pp.244-245.
Know-how
Databases
Innovation
Business development is reliant on growth. Sales and
marketing teams can increase long-term profitability by
building up a customer base and then trying to retain it.
There are several ways to ensure that the customer base
remains buoyant.
Chart customer journey from before to after sale
Think of ways to reduce cost of sale and increase
customer satisfaction
Integrate sales processes with marketing to gain and
retain customers; think about ideal customer
Monitor and evaluate these processes regularly
$
$
$
$
US_232-233_Business_Development_OVERVIEW.indd 233 21/11/2014 16:26
232 233
how sales and marketing works
Business development
15%
of companies have
specialized business
development staff who
are not involved in sales
Retain customers
Follow up sales with
efficient delivery,
excellent customer
service, and
personal contact
to reinforce
positive customer
relationships. See
pp.240-241.
Loyalty
programs
Special
offers and
updates
Call center
REVENUE
BUSINESS DEVELOPMENT
STRATEGIES
Review
effectiveness
Track marketing
spend on each
channel and analyze
results to gauge
return on marketing
investment (ROMI).
See pp.242-243.
Analytics
tools
Return on
investment
(ROI)
Traffic-
driving
to website
Develop
intellectual
capital
Nurture talent
and foster
creativity in
order to
optimize ongoing
marketing e f fort s.
See pp.244-245.
Know-how
Databases
Innovation
Business development is reliant on growth. Sales and
marketing teams can increase long-term profitability by
building up a customer base and then trying to retain it.
There are several ways to ensure that the customer base
remains buoyant.
Chart customer journey from before to after sale
Think of ways to reduce cost of sale and increase
customer satisfaction
Integrate sales processes with marketing to gain and
retain customers; think about ideal customer
Monitor and evaluate these processes regularly
$
$
$
$
US_232-233_Business_Development_OVERVIEW.indd 233 21/11/2014 16:26
How it works
When a supplier develops a brand, it creates a defined
set of values, expressed in product imagery, colors, logo,
slogan, jingles, promotional imagery, and association
with high-profile individuals or characters. The brand
works for both the supplier and the customer, aiming
to eliminate uncertainty and risk and to convey key
attributes. Social media helps to promote brands—for
example, 29 percent of Facebook users follow a brand
and 58 percent have “liked” a brand.
A brand is defined by the characteristics that mark a particular
product. Branding is used to communicate a product’s qualities to
a consumer, and create a lasting bond between supplier and customer.
Branding and
rebranding
Bold
Carefree,
spirited,
youthful
Competent
Reliable,
intelligent,
authentic,
successful
Develop the
concept
Marketer focuses on
positioning (where brand
sits among competition
in terms of function and
look) and building a
consistent and clear
personality.
Choose brand personality
The branding cycle
There are typical stages to branding
a product. In order to rebrand
(redevelop) a product, the supplier
starts over at the beginning.
Rugged Tough,
strong, outdoorsy,
masculine
Sincere Down to
earth, honest, kind,
thoughtful
Sophisticated
Exclusive, romantic,
elegant
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how sales and marketing works
Business development
Product
Apply marketing mix
Price
Promotion
Place
Psychological needs
Make brand alluring
Buying power
Use brand values
to optimize sales
Physical needs
Assert product’s
usefulness
Brand name
Tagline
Design and
packaging
Audiovisual
elements
Apply promotion mix
Research
Is it time for a
rebrand to make
product more
appealing?
The consumer
REDEVELOPMENT: RETURN TO THE BEGINNING OF THE PROCESS
Brand equity Power of
a well-respected brand to generate
more sales than the competition
Brandwidth Measure of the
effectiveness with which a brand
connects across a wide range
of consumers
Brand architecture Overarching
plan to develop one or more
brands and create a hierarchy
NEED TO KNOW
B
r
a
n
d
a
u
d
i
t
Rebrand
Audit
passed
$
US_234-235_Branding_Rebranding_Natalie.indd 235 21/11/2014 14:25
234 235
how sales and marketing works
Business development
Product
Apply marketing mix
Price
Promotion
Place
Psychological needs
Make brand alluring
Buying power
Use brand values
to optimize sales
Physical needs
Assert product’s
usefulness
Brand name
Tagline
Design and
packaging
Audiovisual
elements
Apply promotion mix
Research
Is it time for a
rebrand to make
product more
appealing?
The consumer
REDEVELOPMENT: RETURN TO THE BEGINNING OF THE PROCESS
Brand equity Power of
a well-respected brand to generate
more sales than the competition
Brandwidth Measure of the
effectiveness with which a brand
connects across a wide range
of consumers
Brand architecture Overarching
plan to develop one or more
brands and create a hierarchy
NEED TO KNOW
B
r
a
n
d
a
u
d
i
t
Rebrand
Audit
passed
$
US_234-235_Branding_Rebranding_Natalie.indd 235 21/11/2014 14:25
How it works
The purpose of generating leads is to find consumers
who may need or want to buy the product a business is
selling. Sales teams do not want to waste resources on
people who have no interest in the product in the first
place, so the process of lead generation helps to define
and capture the potential customers who seem most
Lead generation
inclined to become actual customers—known as
high-quality leads. To generate leads, marketing and
sales departments typically collaborate on a campaign,
offline or online, designed to identify and recruit
promising customer prospects. Acquiring contact
information is the first part of the process. Converting
leads into sales is the next step (see pp.238–239).
Plan the approach
Set goals and parameters, including
expected return on investment (ROI)
and number and quality of leads.
Identify target customer
Define the characteristics of the
customer the business is aiming to
capture in as much detail as possible.
Design campaign
Craft a multi-channel message to
entice the lead to opt in and give
contact information.
audit
Assess current
lead generation.
review
objectives
Check that they
are realistic;
compare with
previous efforts.
Planning
Ensure that sales,
marketing, and
customer service are
working together.
systematize
Integrate customer
relationship management
(CRM) software to
manage the leads.
research
Ascertain which
media and customer
touchpoints are
most effective.
big idea
Devise a compelling
message to engage
and entice leads.
Produce campaign
Create and deliver materials
for each medium involved in
the campaign.
advertising
Generate broad
interest with ads
on selected media.
seo/PPc
Integrate search
engine optimization
(SEO) efforts and
pay-per-click spend
(see pp.230–231).
email blasts
Include a benefit
for the recipient
and a call to action
(see pp.216–217).
telemarketing
Review key
message and
call script
with customer
service team.
trade show
Invite potential leads
to visit the company’s
stand and meet face
to face.
Lead-generation process
Generating leads is a multi-step process that involves sales,
marketing, and customer service teams working together
to plan, design, produce, test, and refine a campaign.
For a business to grow, one of its basic goals is to acquire new
customers. Lead generation is the strategy it uses to locate, target,
and nurture leads (potential customers).
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How sales and marketing works
Business development
Test campaign
Monitor the initial hours and
days of the campaign and make
any corrections that are needed.
Refine
Fine-tune the filtering process to
ensure that leads being generated are
high quality and likely to buy.
RESPONSE RATES
Tally how many
leads have been
generated so far.
%
of B2B companies
that say each tactic
is most effective
at generating
leads
QUALIFIED LEADS
Determine percentage
of initial contacts with
purchase capability.
ONLINE
CONVERSION RATES
Calculate percentage of web
visitors converted to leads.
Measure
Track and measure the response
from the various campaign activities
to gauge effectiveness.
39%
Outbound
marketing
(direct sales,
telemarketing)
27%
Live events (trade
shows, webinars)
17%
Online marketing
(web content, SEO)
10%
Traditional
advertising
(radio, TV, print)
5%
Social media
2%
Other
ANALYZE
PERFORMANCE
Identify adjustments
needed to keep campaign
on track.
TOP FIVE STRATEGIES FOR LEAD GENERATION
Create content such as a viral video
or a newsworthy business report
that takes leads to a sign-up page.
Use both online and offline
channels, as most customers
will respond to just one channel.
Trace the customer touchpoint—
the point at which a customer
comes into contact with the
product—before, during, and after
purchase. Touchpoints may range
from online reviews to billing.
Tailor the call to action to the
channel, such as inviting trade show
visitors to enter a competition.
Design effective opt-in web forms
to capture data, such as asking
customers to sign up for updates.
Owned media Channel owned
by a business, such as a website,
blog, or social media profile
Attention, interest, desire,
action (AIDA) Model for
effective marketing messages
Cost per lead (CPL) Amount
it costs the company to acquire
one potential customer
NEED TO KNOW
B2B LEAD GENERATION
Most businesses selling to other businesses (B2B) identify lead
generation as one of their most important digital marketing
priorities. But which tactics do they find most effective?
US_236-237_Lead_Generation_Steve.indd 237 15/12/2014 13:53
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