Here is how we implement different strategies when developing your new business or assisting with an existing business
Sales and Marketing
ASMG focuses on specific markets or clients to achieve targeted revenue numbers. For instance, after assessing the Brazilian market, ASMG has set a goal of reaching $1.5 billion in sales within three years with a well-defined plan. The sales department is actively developing strategies to engage the new market’s customer base. ASMG’s marketing team complements this effort by promoting and advertising the company’s products and services. The team leaders are adept at setting appropriate budgets based on the opportunities involved. ASMG handles clients with higher budgets by implementing aggressive strategies like cold calling, personal visits, roadshows, and free sample distribution. Lower budgets are managed with a focus on more passive strategies, such as online, print, and social media ads, as well as billboard advertising.
Legal and Finance
ASMG has emphasized the critical role of legal and finance teams in the decision-making process for entering a new market. The business development team carefully evaluates the options of navigating legal formalities independently or forming strategic alliances with existing firms, with input from legal and finance experts. In addition to market expansion, ASMG recognizes that business development encompasses initiatives to enhance cost-efficiency, such as optimizing corporate travel expenses and exploring outsourcing opportunities for non-core functions such as billing and customer service.
Project Management/ Business Planning
ASMG will focus on your project and assist in planning for your international business expansion. Critical decisions need to be made about whether to establish a new facility in the target market or manufacture products in the base country and import them. If the latter is chosen, this may require assessing the need for an additional facility in the base country. The business development team at ASMG carefully evaluates and finalizes such decisions based on cost and time assessments. Once a decision is made, the project management and implementation team can begin working on the desired goal.
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ASMG considers vendor management for the new businesses. This includes determining whether the business will need external vendors for services such as shipping or sales, and understanding the associated costs. Our business development team will be responsible for collaborating with internal departments to address these questions and establish effective strategies for engaging external vendors.
Business development often requires employees various departments to collaborate, facilitating information flow, strategic planning, and informed decision-making. Here is a summary of potential areas where ASMG thrives the most, depending on the organization:
- Market research and analysis: Identifying new market opportunities and developing effective strategies
- Sales and lead generation: Prospecting, qualifying leads, and coordinating with the sales team to convert leads into customers
- Strategic partnerships and alliances: Forming strategic alliances, joint ventures, or collaborations that create mutually beneficial opportunities
- Product development and innovation: Conducting market research, gathering customer feedback, and collaborating with internal teams to drive innovation
- Customer relationship management: Implementing customer retention initiatives, loyalty programs, and gathering customer feedback to enhance satisfaction and drive repeat business.
- Strategic planning and business modeling: Identifying growth opportunities, setting targets, and implementing strategies to achieve sustainable growth.
- Mergers and acquisitions: Evaluating potential synergies, conducting due diligence, and negotiating and executing deals.
- Brand management and marketing: Creating effective marketing campaigns, managing online and offline channels, and leveraging digital marketing techniques.
- Financial analysis and funding: Exploring funding options, securing investments, or identifying grant opportunities.
- Innovation and emerging technologies: Assessing the potential impact of disruptive technologies and integrating them into the organization’s growth strategies.
Our Business Development Process in 6 Steps
While the specific steps in the business development process will depend on the particular company, its needs and capabilities, its leadership, and its available capital, here are some common steps we include:
Step 1: Market Research/Analysis
Begin by conducting comprehensive market research to gain insights into market trends, customer needs, and the competitive landscape. Analyze data and gather additional information to identify potential growth opportunities and understand market dynamics.
Step 2: Establish Clear Goals and Objectives
Leveraging that research, define specific objectives and goals for business development efforts. These goals could include revenue targets, market expansion goals, customer acquisition targets, and product or service development. Setting clear goals provides a focus and direction for the business development process.
Step 3: Generate and Qualify Leads
Use various sources, such as industry databases, networking, referrals, or online platforms, to generate a pool of potential leads. Identify individuals or companies that fit the target market criteria and evaluate them based on predetermined criteria to determine their suitability and potential value.
Step 4: Build Relationships and Present Solutions
Initiate contact with qualified leads and establish relationships through effective communication and engagement. Utilize networking events, industry conferences, personalized emails, or social media interactions to build trust and credibility.
As your relationship forms, develop and present tailored solutions that align with the client’s needs. Demonstrate the value proposition of the organization’s offerings and highlight key benefits and competitive advantages.
Step 5: Negotiate and Expand
Prepare and deliver proposals that outline the scope of work, pricing, deliverables, and timelines. Once the client agrees, collaborate with legal and other relevant internal teams to finalize and execute the contract to ensure all terms are clear and agreed upon. Maintain communication with the client throughout this process to address any questions or concerns.
Step 6: Continuously Evaluate
Continuously monitor and evaluate the effectiveness of business development efforts. Analyze performance metrics, gather feedback from clients and internal stakeholders, and identify areas for improvement. Regularly refine strategies and processes to adapt to market changes and optimize outcomes.