Why do business development?

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Business development is an essential aspect of business development. It is a set of strategies to stimulate sales, acquire new customers and retain existing ones. Business development can help a company acquire new customers, expand its existing customer base and improve satisfaction and loyalty. It can also help improve the company’s reputation and image, as well as open new opportunities for growth and development. The goal is to guarantee the sustainability of the company and its activity.

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What is the definition of business development?

Business development is the strategy implemented to ensure the viability of a company. If it is relevant and sufficient, it allows for the establishment of objectives that are attainable in the short term, but also in the long term. It is a question of carrying out commercial actions which will ensure the success of the company in the long term.

Business development then follows a well-defined process to establish the company in the target market. It is defined as a commercial action plan based on prospecting and customer loyalty. It consists, in fact, in making efficient use of the human and material resources available. This strategy aims to achieve specific objectives.

Why is it important to do business development?

Wondering why you should do business development ? A company may be on the right track today, but will it be tomorrow? The market evolves, the demands vary according to the trends. It is then essential to update the business strategies used to succeed in the long term.

In this sense, doing business development must be a priority for any company that wants to last in time. This is the way to seize growth opportunities and continue to earn the trust of targets. The success of this strategy is explained by the increase in sales and earnings.

Business development is also important because it allows to gain market share. In any case, to launch your business and to keep it operational, you must take its business development seriously.

Discover our business FAQ to find all the answers to your questions.

How to set up a business development strategy?

To establish a business development strategy, several basic questions must be answered:

  • In what direction can the company go to achieve its objectives?
  • how to enhance its assets to continue to gain the trust of its prospects and customers?
  • how will it control the competition?
  • how will it stand out in the market and remain operational?

With a sales action plan that answers all these questions, it is possible to define the operational actions to be taken. To achieve this, we must be realistic, both in terms of the objectives and the methods used to reach them.

It is therefore important to establish performance indicators and to conduct a market study beforehand. The business development strategy should aim to reduce the risk of loss by improving the following areas:

  • the quality of the products and services offered;
  • adapting offers to the real needs of customers;
  • pricing strategy;
  • the communicative and promotional strategies used to create proximity with customers;
  • prospecting ;
  • customer loyalty.

How to train in business development at INSEEC?

Are you interested in creating a startup ? Or do you want to train to become a business development manager ? Whatever your ambitions, to develop your skills in sales techniques, INSEEC is certainly the right choice.

Our business and management school offers work-study programs that open up career opportunities in France and abroad. Simply enroll in one of the following tracks:

The E-commerce & Start-Up Business Development Bachelor’s degree provides for 3 years of study. The first year is open to Bac holders. You can also join this program in the 2nd or 3rd year if you have the corresponding level of study. Alternating courses are possible in the 3rd year.

To showcase your business development skills in new foreign markets, choose the International Business & Innovation Major. To access this program, you must follow the INSEEC BBA program in 4 years.

To become an expert in business project management, follow the MSc Business Development & Engineering course at INSEEC. This is a 2-year specialization. The first year is open to holders of a bachelor’s degree. With a Bac+4 level of study, you can go directly to the 2nd year MSc.

This programme is aimed at students who wish to complete their commercial training. The business developer must support the company’s growth strategy by creating value. They must show unfailing motivation to create or enrich their client portfolio. The aim is to train business engineers who master the techniques of selling goods and services in a national and international context. They must have great interpersonal skills and be at the cutting edge of innovation.
Find all our Business & Commerce courses on our dedicated page.

Updated 13 July 2023