Business Development Vs Marketing – What’s the Difference

Business Development. Marketing. Business Development. Marketing.

 

These words are used interchangeably too often, and you can understand why. Surely everything a business does to achieve more business is “business development”.  Almost. The problem with that mindset is that it can quickly lead to unmet expectations. If you think you need marketing or business development support, you should first understand how they differ and where they overlap.

 

Firstly, what is marketing? Boring technical answer: Marketing is the action or business of promoting and selling products or services, including market research and advertising. But more importantly, marketing is about identifying your key differentiators, developing your messages and establishing a position within your market(s). Advertising, event promotion, content and building thought leadership through public relations – these are the marketing strategies that can be used in a complex marketing mix.

 

So then what is Business Development? Business Development is the activity of pursuing strategic opportunities. It’s about building upon the brand you have though making connections, cultivating partnerships and commercial relationships. It’s the prospecting and qualifying of leads and the converting of those leads into clients.

 

So when it comes to developing a business development strategy for your firm or business, marketing is an essential piece. Likewise, a branding and marketing strategy should be built with your business development goals in mind. The two not only complement each other, they depend upon each other – but that doesn’t make them the same. As you consider your marketing and business development goals, think about where your firm currently has strengths and weaknesses. You may find that you need more exposure and new marketing tactics for generating leads. Or you might find that you have warm leads, but just need sales training to help convert them into clients.

 

And that is what James Schaefer does.

 

Pairing tertiary qualifications in Economics (Macquarie University) and Marketing (Monash University) combined with over 35 years of professional sales and marketing experience, James Schaefer brings a wealth of knowledge to your business.

 

With a reputation for integrity and reliability, and a wide network of professional connections that can support your business, James is the ideal choice to support your New Business Development program.

 

Why go through the pain of recruitment, motivation and management of an expensive full-time BDM when James can be a time and cost-effective solution for your business?  Engagement can be on your terms and within your budget – get in touch to discover how James can help to grow your top and bottom line today!

Click here to find out more about what James Schaefer can offer your business.

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