Business development includes the growth of the business, sales made, expansion of the business, achievement of goals, startup costs, and the targeted milestones.

Strategy business development is the formulation and implementation of goals and targets set by an organization. It aligns the development process with its set goals and also helps acquire ideal clients using the brand promises delivered.

Strategies for business development

The strategies for business development include:

1. Networking

Face-to-face networking has proven to be the best way to develop relationships between the business and its clients. Social media networking has also borne fruits while saving time and resources.

2. Referrals

How well a client is satisfied by your services determines whether they will refer you to their friends. Referrals have proven to establish new relationships and businesses.

3. Sponsorship and advertisements

Sponsoring events tends to market your business and attract different clients. Advertisements create awareness to the target audience thus marketing your business.

4. Telephone and mail

Sending mails and calling your clients informing them of your new services and products goes a long way in marketing your company and its services.

5. Thorough leadership and content marketing

How is the firm being run? Does the management portray a great leadership skill? Also, a company’s website sends important information about the company through blogs and content marketing.