Difference Between Business Development and Marketing

UPDATED: 
July 10, 2021
Difference Between Business Development and Marketing

There is a difference between business development and marketing. Marketing and business development are two of the essential components in building a successful B2B company. However, too often, these departments work at odds with one another by fighting for resources or trying to do each other's jobs. Luckily, there is an opportunity: By understanding how marketing and business development can be leveraged better together than separately, you will see your customer base grow exponentially faster!

What's the role of the Marketing Department?

Marketing is important to business. Marketing is a critical cog in the B2B machine. Marketing needs to be able to use data and information gathered about potential clients, as well marketing's own capabilities so that they can leverage leads into sales. This means developing an effective strategy, including messages and benefits for your target market. From there, it becomes all about executing those plans with tactics like website updates or email campaigns based on this plan.

The marketing department's role in a B2B includes, but is not limited to:

  •  Communicating and refining the current service offerings of the company and identifying new ones that need to be added;
  • Give education about the company and their services;
  • Creating and maintaining a professional and consistent image for the company;
  • Managing visibility through public relations, the website, and other marketing collateral;
  • Measuring success toward reaching marketing goals; and
  • Monitoring the effectiveness of campaigns.

There are so many skills that go into successful B2B marketing campaigns. For example, the team needs to know industry dynamics and be able to think strategically so they can measure their success by tracking completed tasks. It's also essential for companies looking at how best to structure a marketing department in order to hire employees with diverse sets of skills - people who can execute on strategy from an empowered position where it is safe for them to take the initiative when needed as well.

What is the role of Business Development?

Business development is a necessary step in the process of bringing new clients to your company. The sales and marketing department should form partnerships with referral sources, trade associations, or other professional contacts. Business specialists may need to attend trade shows and follow up via email or phone after sending out direct mail campaigns.

A successful B2B business development professional possess a lots of traits and skills . These include knowing the industry dynamics, strategically managing time strategically, making personal connections (and keeping them!), being resourceful. The person's success in this position is easily measured by the number of referral sources and prospects--as well as new work gained!

FAQ's

Is business development marketing or sales?

Business development and sales professionals work closely together, relying on one another for success. Both professions interact with the marketing team to create a crucial component of an organization's structure.

Is business development an excellent job?

Business development executives are excellent for people with strong interpersonal skills and the ability to work under pressure. If you have a knack for numbers, sales strategy, and leadership, then this is an ideal job choice!

Is business development a sales job?

Business development is a process of identifying, attracting, and acquiring new business. The aim might be to reach or surpass your company's goals for revenue and growth in order to build the future success of what you have started with so much time devoted but the little reward from which can come only after reaching this point.

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