New business development definition: New business development deals with all type of activities such as which involved in realizing new business opportunities, including business design, product or service design, sales and marketing policy & strategies formulation etc. If we divide business development in to two parts, we have : “Business” and “Development” respectively. The very first thing that is came to my mind when look up at businesses through Finance, Managerial functions, Economics, Management, Sales and marketing activities, market competitors competition, prices of products or service etc. These are the major keywords which directly correlated with entrepreneurship and risks also significantly indicate the main scope of the “business development”. Also business development is connected with the keywords, Products & services quality development, Technological improvement, Cost or price reduction in comparison with competitors product's or services, Improve relations, General welfare, Forward movement in a highly positive directions etc. Simply, new business development means is an activity which identifies qualified new business opportunities, produces high quality, product standard as a result of generating more sales in order to new business development.
Primarily my suggestions to all of new business owners or entrepreneurs that you must establish Telemarketing and Telesales for new business development. Let's see what is Telemarketing, Telemarketing approaches, advertising, Affiliate Marketing which are as under:
Telemarketing: The ultimate goal of telemarketing is to increase your companies profile about products or services to all potential customers and to immediately identify the more significant business opportunities. Telemarketing team is a group of marketing team those who are involved with marketing your companies products through a set campaign by that you will be able to notice the ROI (return on investment) very promptly. Telemarketing team members need to train up through some basic qualification with professional approach mainly females employees may play a vital role here to convince your potential clients. Because your potential customers will not give them huge time primarily so, telemarketing staffs need to explain about your company profile, products or services, quality, overall better understanding about the target customers, target sectors etc in a short span of time.
Telesales: You have to decide whether you are able to sales your products, services over telesales or not? If you think that it is quite possible to sell your products via telesales then rush for it, employ some quality employees for your telesales department. Set hierarchy levels there such as Telesales manager, Supervisor, Team leader and team members or executives etc.
Advertising: You can apply traditional advertising like advertising in to the daily newspapers, print media, Electronic media, TV, Radio etc. And on the other hand you may use online advertising such as in the popular websites, or in the online shopping sites or any other famous sites like www.ebay.com, www.amazon.com or www.cj.com or www.twcmsi.com etc.
Affiliate Marketing: Affiliate marketing can be very helpful at the initial stages for the new business development. So, in this regards set up “affiliate marketing program” and then offers lucrative benefit packages to the affiliate marketers such as commissions, rewards, and other incentives on each and every sales or direct sales category.
Else you may follow the above formula and go for the following steps:
1. Pre- launch competitive intelligence and deep market research,
2. New opportunity assessment or appraisal
3. Product or services promotions and partnering strategies
4. Business technology, marketing planning for product launching
5. New Market expansion strategies
To conclude this article, if you follow and shall implement these techniques in your new business after that I am sure you can easily able to develop your new business.
Dear Readers, “As I am adding articles frequently so remember to come back regularly!!”
Dear Readers, “As I am adding articles frequently so remember to come back regularly!!”
