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Published on Wednesday 28th of September 2011

Do you really know your prospective clients?

Recently, a friend of mine returned from her summer vacation in Provence (France), and having become enchanted with the place, she recommended I read Peter Mayle’s “Encore Provence”. The book, written by a British author who made his home in Provence, is most intriguing when he describes the cultural differences of the region. Through his anecdotes we come to appreciate that the differences are real, and that though they are experience immediately, they can only be understood with time and after many personal encounters.

When I started reading, I was guilty much as you probably are of assuming that the only prominent cultural differences would come from an Anglophone living in a Francophone environment, but this was not the case. Peter Mayle elaborates on the beauty of Provence by contrasting its people’s ways with the Parisian way, with the British way, and with the American way. He even touches on the differences between Marseille and Avignon, both in Provence—and how the ways of doing business in one does not apply to the other.

Thus, when you consider entering a new market, or you are about to launch a new product to a target market you are unfamiliar with, it is instrumental you verify that:

  1. Your have identified the prospective market that would most benefit from your solution
  2. You target market can afford your solution
  3. You understand how your target market operates and how your prospects expect to do business with you
  4. Your solution features are highlighted in a way that fits like a lock and key, so you can open the door to your prospects

All the above is a result of:

  1. A well-thought marketing strategy
  2. Fine custom of your branding to the market that you are after
  3. Creative marketing campaigns that attract the attention of your specific target market
  4. Constant evaluation of your marketing results to ensure that you really address your prospects’ needs

If you are looking to turn more of your prospects into paying clients, please do not hesitate to contact us. We offer suggestions and solutions to make sure you have the right market approach with your products or services.


CATEGORIES:

Business Marketing Planning    Business Development Strategy    B2B Marketing Strategies    


Published on Monday 1st of November 2010

Three Proven Business Collaboration Development Strategies

As an entrepreneur or manager, a strategic industry partnership may take the backseat to lead generation campaigns, which can consume your marketing efforts. After all, approaching more clients often equals more revenue. However, a business development strategy that includes business collaboration is in itself a key part of marketing, since it can yield multiple prospect referrals. By collaborating towards mutual interests, it is often far easier to generate sales leads with comprehensive business development then by attempting to go at it alone.

Here are three proven scenarios in which B2B business collaboration is most successful:

  1. A distribution channel: A manufacturing company would like to penetrate a new market, region, or country. Instead of upfront investments in salespeople and warehouse/office expenses, companies should explore local resellers, distributors, or agents that already have the connection with the target market. Therefore, they can be ready to serve potential new clientele in a very short period of time. In the past, we have assisted companies in finding distribution partners, training them and building incentive plans to control distribution performance.
  2. A strategic partnership: In this case, two or multiple organizations choose to work together to achieve a mutual goal. For example, two software companies decide on mutual R&D efforts in order to cut down the development period of a new innovative solution, while sharing the knowledge base of both participating partners. Shortening the time-to-market of the innovative solution would result in a faster delivery to their clients and in acceleration of your company’s revenue. Direct Objective Consulting has had proven success identifying strategic partners and negotiating terms.
  3. One complete solution: The way milk goes with cereal, and salads are served with a dressing, your company needs to find a complementary partner that unites each of your individual specialties into one comprehensive solution. For example, a medical device company can make an alliance to bundle its device in a healthcare kit that is packaged by another company. Or a specialty battery producer may choose to have their batteries already pre-packaged with the suitable hardware/electronics. Think about what can work for your product or service.

The strengths and weaknesses of each of these three business development strategies are dependent on a number of factors, including your company’s industry. Business development has been proven especially useful in service, telecommunication, government, and health care industries. Additionally, many industries have small, tight-knit communities, where strategic partnerships can even more rapidly accelerate your company’s exposure.

The best business development strategy will create win-win situations that would last long-term, and ultimately create more business for your company. Consult with us today if you need assistance in forming a successful business development strategy to build long-term relationships within your industry.
CATEGORIES:

Strategic Partnership    Business Development Strategy    Business Strategy    Distribution Channel    Business Collaboration