Home Business Business development strategy vs. tactics. Option from Viacheslav Brahinets

Business development strategy vs. tactics. Option from Viacheslav Brahinets

Business Development Strategy

The difference between strategy and tactics is not always noticeable. For instance, you can think of networking as a general business development strategy or as a tactic to increase the impact of a thought leadership strategy. Confusing, to be sure.

From our point of view, the difference lies in focus and intent. If networking is your business development strategy, your entire focus should be on making networking more efficient and effective. You will choose tactics to make networking more powerful or easier. You can try another marketing technique and discard it if it doesn’t let you implement a successful networking strategy.

On the other hand, if networking is only one of many tactics, your decision to utilize it depends on whether it supports your broader strategy. You can test Tactics and techniques and easily change them. On the other hand, strategy is a deliberate choice and does not change from day to day or from week to week.

The most effective business development tactics

What is the most effective business development strategy? To find out, we recently surveyed over 1,000 professional services firms. As a result, we created a list of the ten most effective tactics used by high-growth firms:

  • Providing estimates and advice.
  • Keyword research/search engine optimization.
  • Live demonstrations of products/services.
  • Conducting and publishing original research.
  • Public relations (earned media).
  • Developing leads with phone calls.
  • Speaking at targeted conferences or events.
  • Marketing partnerships with other organizations.
  • Presentation at educational webinars.
  • Networking on social networks.

There are a few main things to note about this growth tactic. Such methods can be used to serve various business development strategies. In addition, the best tactics include a combination of digital and traditional ways.

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