Tag: Business development

10 Tips to Help You Commit to Constant Prospecting

Hiring marketing or content marketing talent?One of the key lessons I remember from a time when I did a lot of writing about consulting and had the opportunity to interact with dozens, maybe hundreds, of consultants, was the importance of focusing on prospecting even when you’re very, very busy.

It’s wisdom that I was well aware of when I started my business, Strategic Communications, in 2008, and at first was very easy to do. I wasn’t that busy after all during the early days (especially since this was 2008 and the beginning of a recession!). But as many consultants warned me what I’ve fallen prey to over the years was slacking off on prospecting when my workload became too heavy. Continue reading “10 Tips to Help You Commit to Constant Prospecting”

Creating Your Zoom (aka Elevator) Pitch

Elevator pitches have been a mainstay of business networking for decades. Initially named because they were likely to be delivered while riding in an elevator, requiring a short, pitchy and impactful statement for that brief span of time, today’s elevator pitches are just, if not more, likely to be delivered via Zoom.

Continue reading “Creating Your Zoom (aka Elevator) Pitch”

The Importance of Aligning Marketing and Sales

There is often tension between marketing and sales in many organizations. But why? Shouldn’t these two functions be closely aligned to most effectively achieve the revenue and ROI goals of the organization? What causes this tension, why is alignment important, and what steps can you take to bring these two important organizational functions closer together? Continue reading “The Importance of Aligning Marketing and Sales”

Mining Your Junk Mail Folder for “Hidden Gems”

Open Black Mailbox Filled with Mail Isolated on White Background.

I was having lunch with a friend recently when the topic of email – and difficulty in getting that email to its intended destination—came up. She was surprised to learn that some of the items that might be going to her “junk mail” or “spam” folder might actually be Continue reading “Mining Your Junk Mail Folder for “Hidden Gems””

When To Give Your Work Away, and When to Charge

I saw a very interesting question in an online group I monitor recently: “Is it ever a good idea to give your work away?”

In this case, the question was related to consulting services but the question could just as easily apply to companies selling tangible products. And, perhaps, it is in comparing the two ─ services and tangible products ─ that this answer can make the most sense: “Yes, there are definitely times when giving your work─or your products─away can be a good idea!”

But when?

Continue reading “When To Give Your Work Away, and When to Charge”

How to Tap Into Crowdfunding to Fuel Your Business Startup

by Justin Grensing, Esq., MBA

One of the most difficult aspects of starting a new business is raising some start-up capital. It’s great if you have sufficient savings built up to keep you going for a few years – yes, it often takes at least that long to start turning a profit – but that isn’t the reality for many entrepreneurs. In addition to the costs of running the business itself – which could include rent, marketing, utilities, raw materials, staff wages, etc. – entrepreneurs are often leaving an existing job, foregoing a steady paycheck.

Traditionally, start-ups are frequently funded by one or more of the “3Fs”: family, friends and fools. Continue reading “How to Tap Into Crowdfunding to Fuel Your Business Startup”

Taking a Long View of B2B Customer Relationship Management

Customer relations is a crucial aspect of any business strategy. And for good reason. Amy Gallo of Harvard Business Review writes, “Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” The importance of customer relations is especially true in the B2B context. Typically, B2B companies are working with a smaller pool of customers than B2C companies, and each customer, therefore, makes up a larger share of revenue.

McDonald’s doesn’t want to lose customers, but it’s a lot less painful for McDonald’s to lose a customer than for Boeing to lose one. Similarly, many businesses serve both consumers and businesses. Consider a rental car or hotel company. They obviously have many individual consumer customers, but they also serve large organizations, such as corporations with staff who travel regularly.

So how do you maintain those crucial strong relationships with B2B customers? Here are some tips. Continue reading “Taking a Long View of B2B Customer Relationship Management”

How Well Are You Realistically Managing Customer Expectations?

Copyright: <a href='https://www.123rf.com/profile_georgerudy'>georgerudy / 123RF Stock Photo</a>A frequently quoted “formula” in the field of customer relations tells us: “expectations – reality = disappointment.” While this may seem simplistic, don’t relegate it to the ranks of witty sayings or bumper sticker slogans. There is a great deal of truth in this straightforward equation. Most business owners, managers and customer-facing employees have dealt with unhappy customers. It’s part of the job. But all too often, that customer frustration or disappointment can be avoided by properly managing expectations. Continue reading “How Well Are You Realistically Managing Customer Expectations?”

Networking in the Digital Age

It simply can’t be overstated just how important networking is for business professionals. But, in an increasingly online world, the game has changed significantly from the days of handing out business cards at cocktail parties. Here we explore the concept of online business marketing. Continue reading “Networking in the Digital Age”

Tips for Business Networking: Online and Off

networking, business networking, effective networking, business development, developing new businessWe talk a lot about the value of online marketing and analytics for growing your business. These are crucial tools; however, it’s also important to keep in mind that business is also very personal. While outreach through the internet is certainly a must, knowing how to effectively network on a more personal level is critical. This is especially true for larger customers, business-to-business relationships and engaging with key influencers. The same is true for executives in larger organizations. As reported in Fast Company, “A recent study of 6,000 executives at 3,000 companies in the U.S. and Europe found that executives with 50% more professional contacts above the average, had a salary 3.5% or $15,000 higher than their less gregarious/friendly/sociable colleagues.”

So how can you network online, and off, in a way that’s designed to build value—and relationships? Continue reading “Tips for Business Networking: Online and Off”