Driving Growth Using Industrial Business Development in Manufacturing

Business development in manufacturing is a strategic tool that grows your business and ensures long term sustainability.  If your business is going to succeed, you need to have a results driven business development approach in place. There are many different factors to business development in manufacturing. For example, are you trying to expand to a new territory. Are you trying to grow the business in your current location(s)? Or are you trying to maximize the sales leads you generated at this year’s trade shows? Business development in manufacturing can take on different meanings.

How Is It Different in Manufacturing?

All of the projects that you bid on in sales affects every department. If you don’t have enough bids or business sales leads coming in, all of the departments slow down. That’s why business development in manufacturing is key to keeping the sales funnel full. This process can be done with your current sales team by cold calling or calling current customers for additional potential bids, or using an outside service such as Prospecting Services with Industrial SalesLeads.

Research Your Stakeholders

One aspect of business development in manufacturing is a thorough understanding of your target audience. This involves market research, analyzing industry trends, and studying competitor tactics. Manufacturers must know what their clients expect and, ideally, position themselves as an indispensable extension of their customers' operations. 

Building Strategic Relationships

This extends beyond direct partnerships with suppliers, distributors, and even complementary businesses. Strong supplier relationships, for instance, can lead to better pricing, timely deliveries, and access to new materials or technologies. Similarly, collaborating with other industry players can open doors to partnerships that would be difficult to pursue alone. Target specific buyers, to show where your specific niche lies and how your product can be of value to their manufacturing process. 

Consider Your Competitors

Because of how much is at stake, research your competition carefully. Ensure your sales and marketing teams are set with statistics and a strategy that supports your product or service’s performance in comparison to your competitors. 

Become a Leader in Your Industry

Your brand should not only be seen as a provider, but also an expert in your field. Attend trade shows to show off your industry specific knowledge. Know what you’re offering inside and out. Keep your confidence high – Get your offering in front of people you know are interested in your product or service. 

Prospecting Services to Strengthen the Sales Funnel

Industrial SalesLeads gains valuable feedback from our customers. They come to us because their sales team needs more sales leads. They also come to us to help smooth out the ups and downs of the sales cycle. But a manufacturing company may also ask for our help if considering expanding their territories, a vacant position or even following up on trade show leads. Seems like a fit? Contact us today to find out how we can help support your business needs.