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Key issues in Marketing and Business Development Planning: Engage, Analyse, Expand, Innovate and Measure

Red Star Kim

This is a summary (and an additional learning resource for delegates) of last week’s M&BD planning workshop through the PM Forum. Key issues in Marketing and Business Development Planning: Engage, Analyse, Expand, Innovate and Measure. Innovate – Be more innovative in M&BD.

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Cracking the Consulting Code: Top 10 Innovation Frameworks

Flevy

FlevyPro is currently used by 100s of consultants and business executives. Based on sales and downloads of the FlevyPro frameworks , here is what we found to be the top 10 Innovation frameworks used by management consultants.

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Update on marketing and business development (M&BD) team structures

Red Star Kim

They may be project-based to support innovation projects. Or their focus may be on digital and predictive analytics. Innovation and new product and service development These were often areas beyond the scope of M&BD departments. These people may be directed at horizon scanning, commercial research and market insights.

Marketing 130
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Lean Startup Methodology

Flevy

Traditional Startups demand that the entrepreneurs formulate a comprehensive 5-year Business Plan. The approach that traditional startups typically adopt is a linear, effort-intensive, and costly process that necessitates in-depth reflection, planning, and execution with minimal customer interaction and feedback.

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Be more strategic – A metaphor: Analyse, join and align the dots

Red Star Kim

Delegates were from legal and accountancy firms with roles as varied as marketing, digital marketing, business development, PR and key accounts (executives, managers and a director). And we analyse the analytics from our digital marketing performance.

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Future Marketing/BD Manager – Build resilience to avoid being overwhelmed

Red Star Kim

Look to the business plan and departmental plans. Prepare a strategic M&BD plan. You might consider: What’s important to your senior management team? What’s important to your fee-earners? What’s important to your clients? Where can I have the biggest impact? What are our goals? Strategy forces us to make choices.

Marketing 130
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Be more strategic – PESTLE, Positioning and Plans

Red Star Kim

Digital transformation. Preference for digital/virtual meetings. Commerciality – Finance, pricing, innovation and research (kimtasso.com). Specifically, a M&BD team may need far more detailed plans than fee-earners who will prefer a high-level summary showing the main actions required. Immigration and social unrest.