It is a mistake to think that marketing and business development are the same. Many believe that it is possible to attract new customers instead of developing the company. There are sales, so everything is good. But it is not quite so.
The main goal of marketing is to attract the attention of new customers and retain old ones. Business development will help build long-term relationships with partners and the market, which will help further development. Marketing specialists develop solutions to acquire new customers. The development manager will tell you how to increase the company’s value and improve its reputation.
Differences between marketing and business development
The final goal of the sales department is to create conditions for the sale of the product. That is, if the client places an order, then the specialists have done everything correctly.
The development manager develops a strategy for creating new connections. It works with three elements:
The main goal of the specialist is to create a network of relationships with all parts of the business. If the company does not interact with other businesses, it is unlikely to become a market leader; the competition will suffocate. Without good customer relations, there will be no sales; there will be no work for the marketing department. If you do not work on expanding the market, even regular customers will get bored with the products.