Business Development process is concerned with the detailed stages involved in converting a suspect into a customer. A Business Development process measures the probability of a sale taking place. It reveals whether a potential customer will commit to a deal or not.
At SJ Innovation we have a standardized Business Development process outline that not only maps our interaction with prospects but also tracks it while at the same time explaining the various tasks to be carried out in each step of the Business Development process, from their first point of engagement with our business to the close of the deal. We do research and set a target market –
- Freelancing platforms
- Competitors to partner up by researching their information via LinkedIn and using multiple tools like Rapportive, Discoverly and Datanyze etc
- Dig our old client base
Competitors to Partner Up
- Strategic partnerships in this context can take the form of joint ventures, outsourcing agreements or even cooperative research. All of these offer the potential for a win-win relationship with a nominal competitor, rather than a win-lose deal. If such competitors have overflow of work, it could easily benefit us and vice versa.
- We are creating a client database, so whenever we need work, we could contact them. So it’s a precious asset we are building for our future.
- Startup companies could give us great opportunity to grow big with them
Dig Existing or Old Client Base
- Getting back an old client is a lot easier than finding and selling an entirely new one.
- Easy to convert them because they already trust us and believe in our
- Re-engaging an existing client, is as easy as three e-mails or a few
Freelancing (Why We Choose Bidding as One of our Business Development Strategy)
- Upwork has around 4 Million registered clients and on average they post minimum 50 jobs per day in Web, Mobile & Software Development category itself.
- It helps us to win both small as well as big projects, which helps us to utilize free resource.
- We get exposure to clients from different part of the world, with different type of work which in turn helps us to add to our Agency’s Portfolio and Skill Set.
A Short Sales Story
Many years ago two salesmen were sent to Africa by a British shoe manufacturer. The goal of their trip was to investigate this new market, and to report their findings back to headquarters on the potential of the market. The first Business salesman came back with a rather dismal report, “There’s no potential at all here, because nobody wears shoes”. The second Business salesman came back with a rather different reply, “There’s massive potential in Africa, because nobody wears shoes.”