Increase Profits by 200%: Download 5 Powerful Tools for Free
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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Over the past 7 years, we have conducted over 23,000 comprehensive website audits and I have learned that all of us as leaders need clear and working algorithms for our marketing and sales.
Today we will share with you the 5 kuwait whatsapp numbers most valuable documents that we have developed for our clients.
Download for free and implement today:
How to find out the 5 key marketing metrics in your company?
Step-by-step calculation template with fields where you can insert your data
How to make a KPI for a sales manager based on his work results?
Current template for calculating KPI for sales manager
9 Examples of Universal Selling Commercial Proposals
Upgrade your CPs to close more deals
Cold Lead Processing Script Template
A checklist of ready-made questions for engaging cold clients
7 Profitable Marketing Strategies Examples
Will help increase customer flow by at least 30%
Download the collection for free
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Stages of developing a business development strategy
Understanding the stages of strategy development helps companies build a clear algorithm of actions aimed at achieving competitive advantages and sustainable growth.
Macroenvironment Analysis
Business development depends on many external factors, including the economic situation and the positions of major players in a particular area. By analyzing the macroenvironment, you can assess potential profitability and decide whether to open new directions.
When developing a strategy for several years ahead, it is important to consider the following aspects:
Legislative norms that may affect the occupied niche. Information about them can be found on the websites of the State Duma and regional authorities.
Planned transactions of major enterprises, including mergers and acquisitions of industry leaders.
Dynamics of material well-being of the population.
Let's say a company has a small taxi fleet and there is information that a large taxi aggregator is planning to occupy the economy segment in the regions. This may be a signal to think about re-profiling the business. Perhaps it is worth considering the possibility of a complete transition to the premium class within a year.
Microenvironmental research
It is necessary to understand how competing companies are developing, as well as to find out the real needs of consumers, since the situation in other companies can affect pricing and marketing policy. The following can help in such research:
Marketing market analysis: allows you to determine whether there is growth in the industry or a decrease in the amount of money in it. Research will also help to identify the main needs of customers.
Data on other market participants: it is necessary to understand in which direction competitors are moving, what segments they are capturing and what products they are announcing.
Let's say a direct competitor of a coffee company is focused on opening points in business centers. In this situation, you can try to compete for these positions or focus your efforts on developing the "Coffee to go" direction.
SWOT analysis
Once you have identified the external factors that could impact your business and the potential actions of your competitors, you need to assess your company's strengths and weaknesses in the context of the information gathered in the first two steps.
SWOT analysis
Source: shutterstock.com
A SWOT analysis will help solve this problem: a strategic planning technique that allows you to structure all information about a business and determine long-term goals.
It is necessary to create a tabular form with four columns:
Strengths - a company's advantages over its competitors;
Weaknesses - shortcomings of an enterprise;
Opportunities - favorable external factors for growth;
Threats are external risks that may negatively impact a business.
Then you need to systematize all the data.
Case: VT-metall
Find out how we reduced the cost of attracting an application by 13 times for a metalworking company in Moscow
Find out how
Ansoff matrix
To develop a business development strategy, you can use this classic marketing tool. The Ansoff Matrix suggests choosing one of four directions:
Existing product and old market . Focus on increasing sales volumes in an existing niche. For example: if a company sells 100 liters of water per month, the goal might be to sell 1 ton.
Existing product and new market . Expanding sales to another target audience, opening divisions in other regions or countries. For example, the goal is to sell 100 liters of water per month in nearby settlements.
New product and old market . Improving the characteristics of a product or service. For example, you can offer water in a more convenient container that consumers don’t know about yet.
New product and market . This approach is called diversification.
It can have different forms:
A new product using existing resources . For example, a water seller can open a water bottling point in the same premises.
Expanding the product range . A company that sells water can add tea and coffee to its product line.
When choosing business development directions, it is important to take into account the results of the SWOT analysis to determine which strategy will be most effective.