From full-sized companies to startup businesses, even the most successful of ventures has room for improvement. A steady focus on business development is essential, and many of the best practices are long-term strategies that focus on stamina and continual growth over the years. Devoted Business Development in Burnsville, MN, brings extensive expertise to the field of business and management consulting, and they have a few tips for maximizing success.
3 Tips To Maximize Business Development
- Maintain Relationships
Establishing relationships is one thing, but maintaining them is a business art form all its own. According to a study, repeat customers spend nearly 70% more on average than new clients. This is especially true in the hospitality and retail industries. Thus, it pays to continue strengthening these existing relationships, remembering to engage with your key clients on a regular basis. Feel free to set up reminders in tune with a schedule that works for you, but quarterly check-ins are a solid rule of thumb for starters. What have you done to stay in contact with your customers?
- Build Trust Through Added Value
Whether you’re dealing with existing or brand new clients, your actions speak volumes. There are many ways to build trust through added value, including placing a consistent emphasis on above-and-beyond service and communication. Most importantly, you must continue adding value after the initial sale. It takes time to build trust with a client, but you will eventually develop a reputation for excellent service that will act as your calling card. Once that trust is build they wont ever leave you. Target went bankrupt in Canada because the trust of the customers was largely with Walmart that they have known for decades. Even though most people in america love Target and believe it to be an upgrade over Walmart. what have you done to build that trust with your customers?
- Put Testimonials to Work
If you’re looking to establish credibility in the early stages, testimonials can be a major boon. These tools must be used wisely, though, and you should always aim for quality over quantity. It also helps to share testimonials that mesh well with the client in question. If said client is a mid-sized business, for instance, share testimonials from similar companies you’ve worked with in the past.
With these tips in mind, you’ll be well on your way to developing a business plan that’s a force to be reckoned with. For more expert help along the way, get in touch with the professional consultants at Devoted Business Development. Call us at (952) 582-4669, or contact us for further information on our development solutions.
We evaluate and train on these things and many more with our Business Health Check!