BUSINESS DEVELOPMENT

Your Business Our Effort

BUSINESS DEVELOPMENT

In other words, if you need a direction for your company growth, Webstack Digital can help you. We make strategies and give direction to your business. Our thoroughly built up strategies help your company’s product/service reach the apex of success and growth.

New Business Development helps a company get to know itself better.

The growth industry is freely selectable and cannibalism is therefore excluded.

When potential customers are analyzed, the existing ones come back into focus.

A new business unit serves as a laboratory for your own corporate culture.

The doors open for new partnerships.

Business Development Webstack Digital does through these:

Sales-

Sales personnel focus on a particular market or a particular (set of) client(s), often for a targeted revenue number. In this case, business development assesses the Brazilian markets and concludes that sales worth $1.5 billion can be achieved in three years. With such set goals, the sales department targets the customer base in the new market with their sales strategies.

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Marketing-

Marketing involves promotion and advertising aimed towards the successful sale of products to end-customers. Marketing plays a complementary role in achieving sales targets. Business development initiatives may allocate an estimated marketing budget. Higher budgets allow aggressive marketing strategies like cold calling, personal visits, roadshows, and free sample distribution. Lower budgets tend to result in passive marketing strategies, such as limited online ads, print ads, social media ads, and billboards.

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Project Management/Business Planning-

Does the business expansion require a new facility in the new market, or will all the products be manufactured in the base country and then imported into the targeted market? Will the latter option require an additional facility in the base country? Such decisions are finalized by the business development team based on their cost- and time-related assessments. Then, the project management/implementation team swings into action to work towards the desired goal.

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Product Management-

Regulatory standards and market requirements vary across countries. A medicine of a certain composition may be allowed in India but not in the United Kingdom, for example. Does the new market require a customized—or altogether new—version of the product?
These requirements drive the work of product management and manufacturing departments, as decided by the business strategy. Cost consideration, legal approvals, and regulatory adherence are all assessed as a part of a business development plan.

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Vendor Management-

Will the new business need external vendors? For example, will the shipping of a product need a dedicated courier service? Will the firm partner with any established retail chain for retail sales? What are the costs associated with these engagements? The business development team works through these questions.

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Cost Savings-

Business development is not just about increasing sales, products, and market reach. Strategic decisions are also needed to improve the bottom line, which includes cost-cutting measures. An internal assessment revealing high spending on travel, for instance, may lead to travel policy changes, such as hosting video conference calls instead of on-site meetings, or opting for less expensive transportation modes.
Management can implement similar cost-saving initiatives by outsourcing non-core work, such as billing, accounting, financials, technology operations, and customer service. Strategic partnerships needed for these initiatives are a part of business development.

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Strategic Initiatives or Partnerships-

To enter a new market, will it be worth going solo by clearing all required formalities, or will it be more sensible to form a strategic alliance or partnership with local firms already operating in the region? Assisted by legal and finance teams, the business development team weighs all of the pros and cons of the available options and selects the one that best serves the business.

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ROI Conversion-

Through ROI conversion, you can track the number of visitors to your website who eventually convert into clients.

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Cross Promotion-

Cross promotion is a business strategy through which you can target the buyer with a particular product by showing the related products. It is a cooperative marketing strategy.

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Sponsorship Event-

Sponsoring for events promotes your business and makes your business visible and known to a massive crowd.

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Business Reach –

Makes your business reach different people so that more people can see your business and whoever wants to join you can easily join you.

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