AIGA  DCThe  Business  of  Design:  Business  Development

Business  Development   [verb]A variety  of  activities  that  drive  long-­term  sales  for  your  organization

What  makes  up  business  development?

Research Prospecting Planning Sales  calls Integrity

Tradeshows Reward  programs Advertising Leadership Public  

relations

Networking Customer  service

Lead  management

Product  development

Email  marketing

Project  management

Content  marketing

Speaking  engagements Social media &  more...

Main  Areas

Focus  Areas

•Customers•Relationships•Markets

RequiredSkills

• Strategy• Sales• Customer  service

Major  Variables

• Company  size• Product

Where  to  start?

Getting  started,  or  rebooting

Know  your  audience

Define  your  value

Create  realistic  goals

Refine  your  message  &  strategy

Why  define  your  target  audience?Less  is  more.  

You  can’t  please  everyone

Dart  boards  have  one  bullseye

Narrowing  Down  Your  Audience

Population

General  Market

Product  Market

Target

A  group  of  potential  customers  who  have  similar  needs  and  are  willing  to  purchase  goods  or  services  to  satisfy  those  needs.

What  is  a  market

General  Market• Generally  similar  needs• Ex:  Transportation  in  a  specific  city,  need  to  get  around

Product  Market• Similar  needs  with  similar  solution• Ex.  Drivers  who  purchase  sedans

Target  Market• Similar  needs,  similar  solution,  similar  motivators• Ex.  Ride  Sharing

– Similar  to  other  options:  Needs  to  get  around,  disposable  income,  located  in  major  city

– Unique  to  product:  likes  convenience  and  personalized  service,  uses  portable  electronics

Problems

Even  within  that  bucket,  there  are  variables

• Use  cases:  work,  nightlife,  errands,  medical,  tourist,  etc.• What  gets  engagement  with  some,  may  not  with  others• No  one  wants  to  be  sold  your  product,  you  need  a  story• The  audience  varies  between  outlets• And  so  on…

SolutionBreak  it  down  further.  

Have  multiple  segments  per  product  or  really  focus  on  one  core  segment

Factors  to  consider

How  do  you  segment?

First  Step• Think  about  everything  related  to  your  audience(s)

– Demographic– Psychographic– Behavioral– Environmental

• Look  beyond  your  product offering

Criteria  for  Segmentation:  Demographic

B2B B2CAnnual  revenue#  EmployeesIndustry# LocationsYears  in  businessMarkets  servedProducts/servicesJob  titleLevel  of  experience/seniority

AgeIncomeMarital statusEducationFamily  SizeGenderGeographic   locationSocial  statusOccupation

Criteria  for  Segmentation:  Psychographic

B2B B2CResistance  to  ChangeDiversification  orientedOpen  minded/rigidDecision  making processEarly  adopter/followerGrowth  oriented/staticTechnology  sophisticationProfessionalismRequire  referralsAwareness  of  competitorsRisk  aversionLoyaltyMarket/Product  Focus

Brand  preferencesPrice  sensitivityConservative/LiberalEnviro-­friendlyHobbiesLifestyleInformation sourcesService  preferencesBuy  based  on  trendsSpontaneityInfluenced  by  peersRelationship   importance

Criteria  for  Segmentation:  Behavioral

B2B B2CWebsite  visitsResponses to  marketingPurchasing  methodsAssociation  membershipsInternet  usageSocial  media  groupsCollateral  views/downloads

Purchase historyWhere  they  shopType  of  store  preferenceAssociation  membershipsInternet  usageImpulsiveness

Criteria  for  Segmentation:  Environmental

B2B B2CTechnology   landscapePurchasing  powerManagement  practicesPurchasing processBusiness  culture

Country  of  residencePolitical  climateCurrencyPayment  methodsShipping  &  receivingLanguages   spoken

Make  sense  of  it• Pull  out  what  is  the  same  no  matter  what  (constants)

• Evaluate  the  variables  that  make  the  biggest  difference  in  the  business  model:– Sales  process– Messaging– Revenue  /  profit

• Which  segments  are  the  most  viable?

Get  informed

• Conduct  market  research

• Understand  what  solutions  they  are  currently  using

• Compare  how  your  solution  fits  into  their  life

Know  Your  Value

Name  the  Companies

What’s  the  difference   in  product?

Why  do  you  buy  your  toilet  paper?• Do  you  really  know  the  features  and  benefits?• Do  you  understand  how  it’s  made?• Do  you  know  how  it’s  distributed?• Does  the  company  directly  ask  you  to  buy?• If  price  is  the  biggest  factor,  do  you  buy  everything  in  bulk?

Remember  the  Toilet  Paper

• Numerous  brands  of  varying  quality

• All  able   to  compete  in  same  space

• Some  brands  seem  identical

Know  your  brand’s  sweet  spot

Goal  Setting

Smart  Goals• Specific• Measurable• Attainable• Realistic• Timely

Refine  Message

Your  coworker  is  different  than  your  grandma.The  value  changes.  Your  stories  change.  It’s  the  same  for  business  development.

Bottom  line.  It’s  about  what  your  audience  wants.  

Who  is  your  audience?What  is  your  value?How  do  you  share  it?…and  what  does  that  do  for  your  business?

Q&Ajennifer@adashmorecreative.com410-­252-­7879