Business Development Strategy
The key to an effective Business Development strategy for a professional services firm is understanding “what works” for their specific circumstances.
Even within the same sector, different firms have different goals, different clients, different competitors and different capabilities. Each of these has an impact on what the most effective strategies, tactics and approaches will be for that firm.
Each firm needs to make critical choices over:
- The selection of target clients to pursue
- The most appropriate positioning of the firm to attract target clients
- The relative focus on attracting new clients vs. expanding business with existing clients
- The selection of the highest potential lead generation tactics for their specific situation (e.g. speaking, writing, pay-per-click advertising, networking, cold calling, referrals, etc.)
- The setting of appropriate targets to drive business development activity
As part of a tailored approach, we will work with your team to analyse your specific situation and develop clear, practical recommendations and plans which will allow you to take your business to the next level of sales performance.
Example: for a medium-sized firm facing stagnant sales, we identified new ways of segmenting their customer base and focusing on profitable niches being underserved by the large players. As a result of their flexibility in being able to serve the specific needs of these niches (e.g. being ready to provide a rapid response to “emergency” requests) they were able to grow their sales over 10% in 18 months.
As with all our work, we give an unconditional client satisfaction guarantee: If when the work is done, the client does not feel that full value was received, then the client decides how much it was worth and how much to pay.
Contact us for more details or to discuss your specific requirements.