Posts Tagged ‘Business development’

Taking a Long View of B2B Customer Relationship Management

Tuesday, September 5th, 2017

Customer relations is a crucial aspect of any business strategy. And for good reason. Amy Gallo of Harvard Business Review writes, “Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” The importance of customer relations is especially true in the B2B context. Typically, B2B companies are working with a smaller pool of customers than B2C companies, and each customer, therefore, makes up a larger share of revenue.

McDonald’s doesn’t want to lose customers, but it’s a lot less painful for McDonald’s to lose a customer than for Boeing to lose one. Similarly, many businesses serve both consumers and businesses. Consider a rental car or hotel company. They obviously have many individual consumer customers, but they also serve large organizations, such as corporations with staff who travel regularly.

So how do you maintain those crucial strong relationships with B2B customers? Here are some tips. (more…)

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How Well Are You Realistically Managing Customer Expectations?

Tuesday, August 8th, 2017

Copyright: <a href='https://www.123rf.com/profile_georgerudy'>georgerudy / 123RF Stock Photo</a>A frequently quoted “formula” in the field of customer relations tells us: “expectations – reality = disappointment.” While this may seem simplistic, don’t relegate it to the ranks of witty sayings or bumper sticker slogans. There is a great deal of truth in this straightforward equation. Most business owners, managers and customer-facing employees have dealt with unhappy customers. It’s part of the job. But all too often, that customer frustration or disappointment can be avoided by properly managing expectations. (more…)

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Networking in the Digital Age

Sunday, October 23rd, 2016

It simply can’t be overstated just how important networking is for business professionals. But, in an increasingly online world, the game has changed significantly from the days of handing out business cards at cocktail parties. Here we explore the concept of online business marketing. (more…)

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Tips for Business Networking: Online and Off

Thursday, September 15th, 2016

networking, business networking, effective networking, business development, developing new businessWe talk a lot about the value of online marketing and analytics for growing your business. These are crucial tools; however, it’s also important to keep in mind that business is also very personal. While outreach through the internet is certainly a must, knowing how to effectively network on a more personal level is critical. This is especially true for larger customers, business-to-business relationships and engaging with key influencers. The same is true for executives in larger organizations. As reported in Fast Company, “A recent study of 6,000 executives at 3,000 companies in the U.S. and Europe found that executives with 50% more professional contacts above the average, had a salary 3.5% or $15,000 higher than their less gregarious/friendly/sociable colleagues.”

So how can you network online, and off, in a way that’s designed to build value—and relationships? (more…)

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When You Simply Have to Say “No” To New Business, or a Potential New Client

Tuesday, May 26th, 2015

By Linda Pophal

Have you ever turned down new business or said “no” to a potential new client? It may seem hard to believe (especially for very new businesses), but there are definitely times when saying “no” is the best thing to do. Doing so effectively, though, is a bit of an art, and it may take a while for you to determine the types of clients and projects that make the most sense for you to tackle—and those that simply don’t make sense. (more…)

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Should Print and Traditional Direct Mail Still Be a Part of Your Promotional Mix?

Monday, May 4th, 2015

Short answer: Yes!

Today’s media environment is far more complex, offering both benefits and challenges for marketers. The benefits are that they have many more options to choose from to allow them to more specifically, and narrowly, connect with their target audiences. That is, however, also the challenge. (more…)

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3 Traits of Successful Entrepreneurs

Tuesday, April 7th, 2015

I responded to a reporter’s inquiry recently about the traits of successful entrepreneurs. I love responding to questions like this because they cause me to be introspective and think about things that I believe have contributed to my own success–and that may be, potentially, helpful to others. As I look back on my career, and the launch of my business in 2008 (still going strong almost seven years later!), there are a few key points that come to mind. (more…)

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Getting More From LinkedIn

Thursday, March 19th, 2015

LinkedIn is my go-to social media tool, primarily because most of my work is in the B2B space, but also because of the real value the site provides business professionals, whether they are seeking jobs, doing business development or furthering their careers. (more…)

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How Well Are You Managing Your Personal Brand?

Tuesday, December 30th, 2014
Most of us are familiar with the concept of branding from a marketing perspective. Brands like Nike, Coca-Cola, IBM and Target are well known. Also well known is the time, effort, expense and attention that goes into managing brands. But brand management isn’t just for organizations. Individuals have brands too, and, just as with major companies, those brands need to be carefully managed to achieve desired results.

(more…)

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Are You Competing for Market Share in a Red Ocean?

Tuesday, December 16th, 2014

As marketers, we are constantly trying to assist the clients and organizations we work with to expand and capture market share. And while this goal is fundamental to mainstream marketing and business strategy, it overlooks a key concept often neglected by many organizations: blue ocean strategy. (more…)

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