I recent spoke on business development for an AIGA DC speaker series on running a business. The slides provide tips on identifying your audience, defining your value, creating realistic goals, and refining your message.

1. AIGA DC
The Business of Design:
Business Development

2. Business Development [verb]
A variety of activities that drive
long-­term sales for your organization

3. What makes up business development?
Research Prospecting Planning Sales calls Integrity
Tradeshows
Reward
programs
Advertising Leadership
Public
relations
Networking
Customer
service
Lead
management
Product
development
Email
marketing
Project
management
Content
marketing
Speaking
engagements
Social media & more...

4. Main Areas
Focus Areas
•Customers
•Relationships
•Markets
Required
Skills
• Strategy
• Sales
• Customer
service
Major
Variables
• Company size
• Product

5. Where to start?

6. Getting started, or rebooting
Know your
audience
Define your
value
Create
realistic
goals
Refine your
message &
strategy

7. Why define your target audience?
Less is more.

8. You can’t please everyone

9. Dart boards have one bullseye

10. Narrowing Down Your Audience
Population
General Market
Product Market
Target

11. A group of potential customers who have similar needs
and are willing to purchase goods or services to satisfy
those needs.
What is a market

12. General Market
• Generally similar needs
• Ex: Transportation in a specific city, need to get around

13. Product Market
• Similar needs with similar solution
• Ex. Drivers who purchase sedans

14. Target Market
• Similar needs, similar solution, similar motivators
• Ex. Ride Sharing
– Similar to other options: Needs to get around, disposable
income, located in major city
– Unique to product: likes convenience and personalized service,
uses portable electronics

15. Problems
Even within that bucket, there are variables
• Use cases: work, nightlife, errands, medical, tourist, etc.
• What gets engagement with some, may not with others
• No one wants to be sold your product, you need a story
• The audience varies between outlets
• And so on…

16. Solution
Break it down further.
Have multiple segments
per product or really
focus on one
core segment

17. Factors to consider
How do you segment?

18. First Step
• Think about everything related to your audience(s)
– Demographic
– Psychographic
– Behavioral
– Environmental
• Look beyond your product offering

19. Criteria for Segmentation: Demographic
B2B B2C
Annual revenue
# Employees
Industry
# Locations
Years in business
Markets served
Products/services
Job title
Level of experience/seniority
Age
Income
Marital status
Education
Family Size
Gender
Geographic location
Social status
Occupation

20. Criteria for Segmentation: Psychographic
B2B B2C
Resistance to Change
Diversification oriented
Open minded/rigid
Decision making process
Early adopter/follower
Growth oriented/static
Technology sophistication
Professionalism
Require referrals
Awareness of competitors
Risk aversion
Loyalty
Market/Product Focus
Brand preferences
Price sensitivity
Conservative/Liberal
Enviro-­friendly
Hobbies
Lifestyle
Information sources
Service preferences
Buy based on trends
Spontaneity
Influenced by peers
Relationship importance

21. Criteria for Segmentation: Behavioral
B2B B2C
Website visits
Responses to marketing
Purchasing methods
Association memberships
Internet usage
Social media groups
Collateral views/downloads
Purchase history
Where they shop
Type of store preference
Association memberships
Internet usage
Impulsiveness

22. Criteria for Segmentation: Environmental
B2B B2C
Technology landscape
Purchasing power
Management practices
Purchasing process
Business culture
Country of residence
Political climate
Currency
Payment methods
Shipping & receiving
Languages spoken

23. Make sense of it
• Pull out what is the same no matter what (constants)
• Evaluate the variables that make the biggest difference
in the business model:
– Sales process
– Messaging
– Revenue / profit
• Which segments are the most viable?

24. Get informed
• Conduct market research
• Understand what
solutions they are
currently using
• Compare how your
solution fits into their life

25. Know Your Value

26. Name the Companies

27. What’s the difference in product?

28. Why do you buy your toilet paper?
• Do you really know the features and benefits?
• Do you understand how it’s made?
• Do you know how it’s distributed?
• Does the company directly ask you to buy?
• If price is the biggest factor, do you buy everything in
bulk?

29. Remember the Toilet Paper
• Numerous brands of
varying quality
• All able to compete
in same space
• Some brands seem
identical

30. Know your brand’s sweet spot

31. Goal Setting

32. Smart Goals
• Specific
• Measurable
• Attainable
• Realistic
• Timely

33. Refine Message

34. Your coworker is different than your grandma.
The value changes. Your stories change.
It’s the same for business development.

35. Bottom line.
It’s about what your audience wants.

36. Who is your audience?
What is your value?
How do you share it?
…and what does that do for your business?

37. Q&A
jennifer@adashmorecreative.com
410-­252-­7879