8 Powerful Steps Business Development Strategy that Last

Improving sustainable growth, independent and profitability is the goal of business development strategy.  That is a long journey. It is a marathon, not a sprint running.  So it is important to define actionable step by step business development program based on best practices.  An internal team can create the strategy, but also they can ask the external consultant.

Business development is the creation of long-term value by identifying opportunity, threat, strength, and weakness. Then organization makes most suitable respond, so make the fit between customer segment, organization capability, and sustainability. It consists strategic planning, marketing planning, and standardization of organization.

This step by step procedure can apply to existing running business and also startup owner.  It also helps what does a business development manager do.

Business development has several steps. I write steps in question style so the answer is progress and important steps to improve business development strategy.  It is overview article about business development strategy, and I will break down later.

  • What are your business and its vision (business vision and mission)
  • Who is the customer that your business serve? (market segment)
  • What are your business model and competitive strategy? (business model)
  • How to Empower your team?
  • The way of thinking and procedures to deliver your value to the customer? (marketing plan)
  • How to make your business running without you? (systemize or business independence)
  • Creating business system consist organization, tool, and knowledge that support Best Offer? (organization, tool, and knowledge)
  • How to Measure daily business and adjust strategy? (Key Performance Indicator and Improvement)

First Business Development Strategy: Vision and Mission

Writing down vision, mission and goal are powerful, so it is first part of business development strategy. The writing combine imagination and reason.  Dr. Gail Mattews found the amazing discovery that they who wrote their goal regularly achieved those achievements more.

So it is important to define the personal vision, mission, and goals of the business owners. The goal helps us and team to focus on the goal and eliminate distraction.  It also empowers our motivation to reach our goals.  Without a clear vision, mission, and goals, there is no hope.

To accomplish vision, mission, and goal, it is important to consider current financial and non-financial position of the business. It helps to find an easy way to reach goals and find which area that needs to fix and to improve. Identify position of business also important to identify strengths weaknesses opportunities and threats facing the business. It helps business to develops an action plan to make progress.

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Effective Headline to Grab Attention

What is the effective headline to grab attention?  There’s research on headlines or ad headlines, whichever is more effective between ads that precede and highlight the benefits first or ads that precede what to do.

The above research examines 10 types of ad titles for the same offer, ie do a survey, then it can be a prize. Researchers Dr. Flint McGlaughlin from MECLABS Institute. Of the 10 titles, the responses are different, although what is offered is the same. There are more fishing titles to follow his offer, which is to fill the survey.

Are the titles more interesting?

Titles that entice interest are titles that prioritize what the viewer gets first, whereas what to do is delivered later in the title. “Earn money with free surveys”, is more of an interest than “do surveys and earn money”.

The more interesting headline than  “Earn money” is “Earn 2,000,000 Rupiah”. It is more detail version. Then “Free survey” in detail with “only 10 minutes free survey”. So the complete sentence becomes “Get 2.000.000 rupiah with just 10 minutes free survey.”
After Principle 1, All marketing messages should be centered primarily and first on the customer’s behalf. Stress on what they get, rather than what to do.

Headline Task

The purpose of the headline is not to invite to buy. The purpose of headlines is not to encourage customers to act. The goal of the headline grabs its attention to read into the next section, the introduction. Introduction encourages the reader to read the next points. These points encourage the reader to take action.

Therefore the headline does not have the big task to persuade people to buy. Although no problem if the headline does. Headlines task is to attract attention to see further advertising. Why is it no problem for a headline to persuade to buy? Because sometimes it is necessary for Facebook, advertisers can find a market that requires your product, so the invitation to buy it they can receive with pleasure. The call to buy also appeals to them.

In another article about value proposition, including about the features, benefits, and differentiation in advertising that we offer to the customer segment. Segments customers buy because of benefits and differentiation, not because of the features. Feature information can also make them buy, provided they already have a reason that the feature is related to the benefits they expect to solve the problems it faces.

The value proposition is not only beneficial for improving the product but also for the materials of preparing advertisements for customer segments. Ads will contain benefits and differentiation and persuasive language. Since this is an advertisement on Facebook, then the form of advertising consists of headlines, subheadline, images, links or calls to action.

Why is Value Proposition Important for Us

The value proposition is invisible but real. It is like a compass that invisible to another people but it is real as guide action for a ship.

Why Is Value Proposition Important for us? To answer the question I quote this famous sentence “any product or service that  capable of providing solutions for consumers, then the product or service is definitely required by consumers.”

Our business task is to create a fit between our offering and customer profile.

We revise our offering, explore the benefit of our offering for our customer for one goal: fit.

It answers a question, why should I buy your product? Have you had an answer for me? And that answer gives me some gain and is able to explain to me if I do not buy, use your product or service, what happened to me?

If you are able to explain the value proposition of your product or service, it is easy to create a tagline or copywriting that relevant to their problem.

It is a formula of the value proposition.

Our [products and service] help [customer segment] who want to [job to be done] by [reducing, avoiding] [customer pain] and [increasing, enabling]  [a customer gain], unlike [competing value proposition].

If you do not know the value proposition of your product or service? How do you sell?

Follow the formula first. If you want to be creative please after understanding the goal of today’s lesson. The formula is to facilitate us to understand the value of proposition After the understand please create.

When we remember the formula for our products, we know how to improve our products, how to persuade our customer in ads. If not fit, maybe wrong with our perception about our customer profile, maybe something wrong about our brand: credibility. We have to check one by one to our brand, our products, our message, our perception about customer profile, our price, our channel, our distribution.

Or maybe, we didn’t know about customer objection to our products. We have to check and recheck to create fit about our offering with their demand.

 

Invisible

Value Proposition is Most Competitive Strategy Today

What is the value proposition? What is in it for our business? The value proposition is not ads for the audience, but the message of business owners. The value proposition is not a slogan, not an ad. Strategizer highlight this concept that relevant in the many to many communication, web 2.0, interactive communication.

Definition of Value Proposition

The value proposition is what benefits are able to meet customer’s expectations of your product or service. How your product helps customers work, meet customer expectations and reduce their suffering or pain.

If in the customer segment has is gain that they expect, or customer expectations, in the value proposition there is the term creator gain: How your product or service creates benefits for the consumer. Your products and services are trying to satisfy the gain.

In a customer segment there is the pain, or something that hurts them, or something they fear, in the value proposition, there is pain reliever: how your product or service reduces the pain of the customer.

The value proposition is created at the beginning after the target market is determined. Target markets are illustrated first, hopes, things they want to do, and their fears. Only then formulate our products and services. Our products and services are the answers to the work they need to do and they need their help, their hopes, and the pain or annoyance they experience.

Define Value Proposition for Your  Customer

So actually in running and raising business, the easiest is to determine who your customer first, who will buy your product.

In the canvas business model, the value proposition in the canvas business is the two most important blocks, along with the customer segment. Other supporters. Promotion is support. Production support. The resources are supporters. Fortunately supporting losers.

Obviously, what are the benefits my customers can use if they use my product or service and what harm has been made to my customers if I do not use my product or service?

Who will get the gain or avoid the pain? The customer segment we specify. Let’s say. I made a squid fishing bag special for squid. So I focus on my target customers. Then I set the gain and the pain. Which ultimately determines the design of the bag I made. Size, color, strength, water resistance, need place handphone, a place for fish bait. Bag design follows customer requirement.

Humans are motivated to buy for two things usually. Want to get the gain and stay away from the pain. Let’s say. Example. Women buy cosmetics. The gain is to hope she will be beautiful and interesting. And away from pain which means appear unattractive if not using cosmetics.

Well, how design your product? From the customer side, the gain is they want to get the benefits of your product. And they avoid the things they do not expect Then your job as the owner of a product or service is to match the value you have dg your target market profile.

That is if your product has benefited with the expected gain of the consumer and your product is able to keep away the pain that you want to avoid by your target market. Then there is conformity. Transactions are easier to happen.