23 November 2009 53 Comments

Brand’s new business development strategy

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals

Brand Business developmentbrand seedsTime 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?

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