Business development companies are equipped to be able to stand back from the companies problems, to bring a ‘fresh eyes’ approach to the business needs and objectives whilst having industry experience and skills to be able to build and develop the sales pipeline.
If you need more clients, going onto the internet and going with the first agency is not a wise more. Just because they are at the top of the internet search does not make them the best. When considering business development, it is very wise to select one that understands your industry. If your business is involved in construction, engineering, IT, medical or retail, there are business development companies that have experience in helping companies in your sector.
Finding the right agency is important. This is why we always encourage companies to use an agency that knows your industry. For example; if you are an engineering company, why not use a business development company that works in engineering. If they know about marketing for engineering companies, they will be in a stronger position to help you. There should be no learning curve and they will know how to communicate to your customers.
Business development companies do not do the nitty gritty of getting the results required, they are the ones that put the marketing and business strategy in place.
Once the plan is set up, then the real work can be done and the telemarketing, web marketing or advertising can be started in order to get results.
Sometimes being involved in a business (or problem) can lead to a blinkered view on things. Sometimes having a independent industry expert look at the company objectives (with the benefit of the industry experience) and being able to apply the goals with the companies strengths to the market so as to achieve the best results. Scratching where the itch is so to speak.
If possible, as a couple of suitable agencies for their feedback before signing up with them. All agencies should be able to give you some sort of analysis before you part with any money. This way you can get a feel for their ability to be effective?
Not all business development companies will be able to help you. Some do not have the experience, some do not understand your product as they should, some are too expensive, some are not genuine. All agencies charge differently. There is no standard pricing or criteria to how agencies charge for their services. It is a case of comparing quotes in order do see who feels most comfortable and who seems best suited.
We do advise (where possible) to visit the agency. Getting to meet the staff, see their offices should give you a feel for them as a business. They may be able to ‘talk the talk’ but can they ‘walk the walk’?
For this reason, it is wise to shop around, compare business development companies and ask for referrals. Talk to some of their customers and ask them how they have found their advice. What are like at producing results, do they have a good track record?
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