Marketing and BD have more to learn from each other than they think
Welcome to my video series. Today I want to talk about Marketing and Business Development, and more specifically, what I think they could learn from each other.
Because in professional services, we talk a lot about aligning Marketing and BD. But I think there are actually some really practical things both sides do well that the other could borrow.
So, let’s start with what Marketing can learn from BD.
Firstly, get closer to the client.
Your BD teams and fee earners are having conversations with clients all the time. They know what clients are asking about, what they’re worried about, what objections they’re hearing and what’s changing in their market.
Marketing needs that insight. Because rather than sitting in a room deciding what clients might want to hear about, you’ve got people across the firm who can actually tell you.
Secondly, think about relationships as well as audiences.
Marketing is very good at thinking about sectors, personas and target audiences. BD tends to think about actual people. Who do we know? Who has the strongest relationship? Who haven’t we spoken to recently?
Bring those two perspectives together and your targeting becomes much more powerful.
And thirdly, think about what happens next.
You’ve run the event. You’ve published the report. You’ve launched the campaign. Great. But who engaged with it? Who are we going to follow up with? And what conversation are we trying to create?
That’s where the BD mindset is really useful.
But it works both ways, because there are definitely things BD can learn from Marketing too.
The first is to be more systematic.
Good marketing starts with an objective, an audience, some clear messaging and a plan of activity. BD can benefit from exactly the same discipline. Rather than randomly contacting people when you remember, decide which relationships matter and what you’re going to do to develop them.
The second is understanding that you don’t have to do everything one-to-one.
Marketing can help keep you visible between conversations. A useful article, an event, a client email or some good thought leadership can all help warm that relationship without you constantly having to pick up the phone.
And finally, use the data.
Look at what clients are engaging with, which topics are generating interest and where you’re seeing opportunities. That information can make your BD conversations much more relevant.
For me, the best professional services firms aren’t really asking where Marketing ends and BD begins. They’re working out how the two can support each other to create better client relationships and ultimately better opportunities.
Thanks for watching the video. If you like what you’re hearing, please like and share, and I look forward to seeing you on the next video!
Watch the video on my YouTube channel here.
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If you would like help with your marketing, bringing on a marketing consultant with a fresh pair of eyes can make all the difference. I work with B2B businesses and professional service firms in London, Kent, the UK, and Europe, specialising as a legal marketing consultant. Please get in touch or book a free 30-minute consultation.
