Business Development
The main role of the business development department is to help the growth of the company, or the organization, beyond its natural organic growth, and in the directions appropriate to the long-term goals of the company.
The main functions of the business development department include:
- Locating new business opportunities, for example by locating new markets to expand the company's activities, locating additional target audiences, and more.
- Recommendations for the development of new products, or the positioning of existing products, so that they meet the changing needs of the market (this procedure contributes, among other things, to strengthening The organizational resilience of the company).
- Recommendations for commercializing technologies - from the RND phase to a recognized product.
- Creating collaborations, and recommendations for procurement or strategic mergers (at this stage, the personal relationships of the business development people with relevant key people are of great importance).
- Understanding the jargon of the concepts in the field and making it accessible to the marketing and sales people.
- And more.
The business development department charts the way for the organization's growth, and makes the recommendations and information accessible to the company's management and marketing department. The marketing department is in charge of implementing recommendations in practice, which builds the company's strategy and capabilities accordingly.
Marketing
The role of marketing is to increase the demand for the product and the willingness to pay for it by creating a correct, accurate and relevant branding envelope for the product.
For this purpose, the marketing department has at its disposal a diverse basket of tools including, among others: branding operations, advertising, sales promotion, SEO, marquetry, public relations and more.
The role of the marketing people is to lead to a high demand for the product, thus generating leads for closing a deal, or for further processing by the sales department.
The better the marketing work, the more potential customers will arrive with a higher readiness to close the deal and purchase the product or service.
Sales
In a successful sales process, the seller manages to establish a personal relationship with the buyer, identifies his needs, and convinces him why the product or service he offers meets these needs, while providing an effective response to various objections.
A good and experienced salesperson not only knew how to establish a personal relationship with the customer, but also how to drive the sales process without being too aggressive or passive, but assertive in just the right amount.
A good marketing job will greatly facilitate the work of the salespeople, and in certain products it will even be unnecessary (mainly in simple consumer products, or that do not involve a significant financial expenditure).
At the same time, the more complex a product is, involves a high financial outlay, or a long-term commitment, the more important the salesperson is to lead the customer one step forward beyond the goal line - signing the deal.
In contrast to the marketing and business development departments that deal with strategy planning and management, the sales process is essentially an "operational" role, and accordingly requires a completely different set of skills.
A little about Elements' business development services
While large organizations are assisted by an in-house business development department, and an extensive network of acquaintances and connections, with small and medium-sized organizations the situation is completely different - in many cases the role of business development, which is critical to the continued growth of the organization, does not exist at all, or is assimilated as an additional task for the management, marketing or The sales (who do not necessarily have a set of skills and connections suitable for this position).
On the other hand, for a small or medium-sized business, it is an almost impossible task to establish a business development department, both due to the difficulty of locating suitable and experienced people for the position and also due to the high cost involved in their employment.
This is precisely where the Elements company comes to the rescue for the benefit of these companies, by providing outsourced business development services. This service also allows small or medium-sized companies to enjoy the full set of skills, connections, and abilities of a team International business development First class, in a flexible package adapted to the size and needs of the company.
For more information, please contact us by phone: 072-2650145, or through the contact form on the website.
