If you’re serious about getting into BD and doing more with less then these concepts are non-negotiable.
1. Marketing works when it demonstrates, not when it asserts.
The best type of marketing is based on demonstrating the value or benefits of what you do, rather than simply making claims or assertions about it. Cut back on the advertising (and perhaps ease off on the self-congratulatory LinkedIn posts!), and use case studies and testimonials to demonstrate how you’ve helped clients instead. Or better yet, give away some content of real value. Trust me, your leads and prospects will thank you.
2. The ‘raspberry jam rule’ – the wider you spread it, the thinner it gets.
If you’re dipping your toe in every type of marketing and BD activity, the chances are you’re a) spreading yourself too thinly, b) never quite seeing anything through to the end, and c) you’re not seeing any results. Hone in on what you enjoy, what you’re good at or what’s delivered results in the past and stick with it. Get better at it. Get faster at it.
Quality over quantity. every. single. time.
3. When you speak to everyone, you speak to no one.
It’s all about the niche – focus on a specific target audience to achieve a stronger impact. The raspberry jam analogy applies here too – the broader your audience, the weaker the impact of your message. The more alternatives there are to you or your firm, the harder you’ll have to compete to be seen and heard (let alone considered a specialist) and the less power you’ll have to command a premium. Establish yourself as the go-to person for that particular field, go deeper with your industry knowledge, and stand yourself out from the crowd.
4. Business development is not about closing a sale, but opening a relationship.
It’s not your job to convince or persuade a prospective client to hire you. Selling is about determining a fit between the buyer’s need and the seller’s supply (aka you and your services). The sooner you move away from the idea of stereotypical ‘selling’ and think of it as building a genuine relationship, and being able to solve a problem or address a need, the more likely someone is to buy from you.
5. You cannot be in business without embracing selling.
This isn’t really a concept as such, but it needed to be said: Your services alone will not sell themselves. Don’t make the mistake of thinking ‘if I build it, they’ll come’. You could be waiting a long time. As unnatural as it may feel, without making sales and revenue growth a priority, you will not be able to build a practice successfully.
Bonus: If you want a profile, then focus on Marketing; if you want more clients, then focus on BD. (If you want more on this we wrote a whole essay here! It’s an important one).
