Are you thinking about outsourcing your Business Development Center? Needless to say, outsourced business development has strong pros , as well as some cons to be aware of. Consider these options when choosing to outsource your BDC and save your company the pains that come with having one in-house. Outsourcing a BDC means you are hiring their team, for a contract, and a flat rate. Not to mention the time and money that must be allocated to recruit, train, and retain employees.
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Ian Brodie teaches consultants, coaches and other professionals to attract and win the clients they need using "Value-Based Marketing" - an approach to marketing based around delivering value, demonstrating your capabilities and earning trust through your marketing. It's not surprising really — if you neither enjoy business development nor get great results from doing it then it's easy to think that by outsourcing or handing over responsibility you can take one more worry off your plate. Let's imagine it goes well and you start getting a steady stream of clients. Put yourself in the shoes of the firm you've outsourced to or the guy you brought in to do all your marketing and BD. If you'd brought all this success to the firm wouldn't you think you deserved a bigger share of the pie? In fact, wouldn't you think that really as the source of all the new clients you were the central cog in the system? The lifeblood of the business?
What Is Business Development?
Business development is an important factor for running any successful agency. Unfortunately, with all of the projects on your plate, it can be tough to carve out the necessary time to keep your sales pipeline full. But the million dollar question remains: is outsourcing business development right for your firm? True business development is a broad role within an agency that encompasses sales, partnership development and more. As you can see, business development is tangled up in sales, marketing and even corporate strategy. By aligning the various parts of your agency through business development strategies, you can help ensure future growth for years to come. While your firm is perfectly capable of running without having someone focused specifically on biz dev, your agency will miss out on the increased efficiency and overall boost in prosperity that real business development can bring. This is an increasingly common practice as more agencies discover the benefits of business development.
The Drum Network is a paid-for membership product which allows agencies to share their news, opinion and insights with The Drum's audience. Find out more on The Drum Network homepage. Comparatively, if you need a big push on outbound communications, then the tenacity and enthusiasm of a junior business development person will fare better against the barriers, gate keepers and knock-backs which are part and parcel of that role.