Monday, May 10, 2010

Business Development Mistake #2 - Confusing Marketing with Business Development

While the lines may sometimes seem blurred between these two vital revenue generating activities, there is an important distinction.

Marketing encompasses the strategies and tactics designed to help create or define needs. It can include the creation of various channels or methods for communication or publication such as articles, websites, blogs, newsletters or alerts. Messages may also be communicated through public relations, branding or advertising. Additionally, marketing may involve events such as seminars, webinars or individual speaking opportunities. All of these things provide essential support for effective business development efforts.

Business development, on the other hand, involves personally connecting with Clients in order to understand their needs and facilitate an agreement or solution to address those needs. More importantly, it involves getting out from behind the desk and getting face to face with potential Clients. 

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