Time keeps changing. It is only the ignorant who will want to do business the way it used to be done before. Zig Ziglar says ‘to do a thing the way it used to be done and expect different result is the definition of insanity’. This can not be truer today than ever before. We now live in an ever dynamic world where individuals, brands need to keep phase with the trend except if the brand wants to become oblivion. Generating new business, customers, and revenues will sustain any brand today and tomorrow.

The old ways of generating new business is losing its grip. The customers’ disposition is changing fast. New brand’s business development strategies are evolving. It is quite necessary for brand to understand this new trend as fast as possible so that it can incorporate such in its plan. Sharing or giving away free expertise makes a brand to gain-top- of- mind status when buying decision is to be made. A professional photographer who lives in Britain shared with me over the weekend his word of mouth marketing, crusade for a particular company who periodically sent him useful information about how to use his Camera as well as other related softwares that enhance his business effectiveness.

According to him, he has not bought anything substantial from the company himself but he has introduced several high net worth individuals who needed the services of the company. What this translates to for me is that when a brand takes the initiative and invests time in helping potential and customers with quality content or intellectual capital, it has initiated a great strategy in developing new business opportunities for itself. The new business development strategy is to educate your target customers on the broader problems that will or may affect them instead of just selling to them.

Brand must realize that customers’ expectation is now driving the trend. The aftermath of relatively cheap access to internet where buyers are now asking questions and relating may have be the cause of this. A certain amount of free is not just a basic necessity but compulsory in brand business development today. Quality free, helpful content will help buyers in making buying decision that favors a brand in today’s complex world.

A thought leadership that demonstrates brand’s expertise, willingness to help solve clients’ problem without attached strings will bring untold referrals in no distance future. As we know, referrals reduces cost on advertising, marketing. In closing using this method to develop new business requires that the content is practical and easy to use without a lot of complicated processes.

It must be clearr enough for any dummy to use, be highly relevant to a particular problem and be valid enough for anyone to prove its efficacy. My question today is what is your brand doing in this regard? Is your brand stuck to the old ways or is considering this new edge in business development?

The situation is already making everyone to look for the best way to maximize values from every deal. Everyone is out to get best benefits in terms of Naira or Dollar value on their expenditures. The melt down has made every one a shrewd manager of resources. New businesses are not coming up as they used to be. Yet brands must generate new businesses to survive otherwise it will keep pilling bills. The results of that are obvious-filling for bankruptcy or closing shops.

Many brands that specialize in traditional media advert today are losing big deal to the ever evolving non-traditional mainstream media. Even the digital agencies too are not left out as new discoveries are made daily. Other product or services brands are also being affected. People cherish and value their age long items just to safe cost instead of buying new. It is only in our clime that auto market is booming with new cars racing through our streets each new everyday. To generate new brand business, brands can look at the following and annex the opportunities presented by them during this recession.

1. Relationships: more than ever before, strong relationships that have been built over the years can now be annexed. For those brands that have ignored or treated their communities badly, they will suffer untold calamities as these customers can now pay them back. The best time to annex  relationships is now. Relationships can be annexed to get new businesses. So think about all your friends and networks that the brands have nurtured over the years, someone somewhere may be a source of great business.

2. Referral: A good comment or referral from your networks and relationships can also help now to give your brand a new business. Even though this may be an all time route, referral will help in no small deals now.

3. Reputation: This will become a great source of new business this season. Does your brand has reputation for offering value. Reputation has to do with brand’s right standing, strong character within the market that will also help now. Annex the power of the reputation in your brand to generate new business. Brand reputation is its social capital, spend it now.

4. Radar screen: If this has not been used by your brand before, its time to put your brand arsenal up for new opportunities throw up by the time-recession itself. Remember that there is nothing that is totally evil. There is a business benefit in this season too. Look out for part two of this later.