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Council Post: 16 Industry Trends For Biz Dev Leaders To Watch

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As growth in technology continues to level the playing field in the global business market, company leaders are aiming to find and use the best solutions in their industries. These solutions will improve daily workflow efficiencies and serve their clients better.

In addition to technological innovations, some employers are also reconsidering unconventional investments that they may have once thought was too risky.

As 2023 quickly approaches, 16 Forbes Business Development Council members discuss the rising industries and trends new biz development executives should be paying attention to.

1. Revenue Enablement

If you’re not thinking about how to optimize customer touchpoints at every step of the pipeline, from customer acquisition to closed won, then you’re leaving revenue on the table for your competitors to take. This is the defining factor for businesses that have slow growth rather than scalable growth. Companies that have better revenue enablement processes are going to win hands down. – Oscar Chavez, Growthly Group

2. Product Engineering

Up until the last decade, product engineering was a small subset of the overall offerings from solution providers. However, technological advancements like electric vehicles, fully autonomous cars, drones and many more real product-based offerings need an exceptional product outcome. The value chain of ideation, design, testing, engineering and end-to-end support has helped product engineering to emerge as a standalone industry – Prashant Bansal, L&T Technology Services, Inc

3. Sustainable Solutions

Sustainability is the most commonly discussed topic and yet many are not quite sure how to approach it beyond compliance and reporting. This presents a huge opportunity for companies to uncover the real value of sustainability as a competitive advantage while also creating benefits for their industry, communities and the environment. – Gabriel Tan, GUAVA Amenities


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4. Automation

Autonomous enterprise is a significant transformation trend that is going to change the face of how businesses operate forever. Covid and economic shifts have propelled a once-in-a-generation transformation—be it industrial or tech, it is all about doing more with less intelligently. This means bringing data, processes and experiences in unison by powering them with automation and AI technologies. – Bharath Yadla, Workato

5. Digital Assets And Investments

Organizations are beginning to set foot into unconventional investments, which can include cryptocurrencies and other forms of digital assets. Also, as more organizations embrace open technology, digital assets could become a more common medium of exchange and a streamlined, cost-efficient form of value transfer. However, digital asset investments will require the constant monitoring of several risk factors. – Folasade Femi-Lawal, FirstBank of Nigeria Ltd

6. AI And Machine Learning

This technology has been around for decades but the reemergence of the importance of this technology and how it plays into an organization’s strategy is critical. Most companies are looking for ways to increase efficiency while also increasing compliance and utilizing AI and machine learning simultaneously. On the other side, every solution and platform will have this embedded, so being educated is key. – Donald O’Sullivan, Pegasystems

7. Robots

Coming from a generation that grew up with The Terminator, I find the idea of robotics slightly worrisome. Robots of all types are being designed and brought to the market across virtually every segment and market economy. Tiny robots will be used to clean arteries while large robots will be used to clean our seas—and millions of people already have them cleaning their floors. – Jonathan Mills, EPIC Strategies

8. Travel And Tourism

For any new or current business development executives looking at where they should soil their roots, it’s the travel industry. Of the top 10 fastest-growing industries in 2022, seven of them are travel-related. Look for roles with companies in industries like travel Insurance, travel agencies and airlines. – Joe Mendonca, Joe Mendonca Melloace

9. Online Communities And Semi-Private Social Networks

Organizations, marketers and individual creators are growing tired of building on the rented virtual land of Facebook and LinkedIn groups and other social media giants. As the technology for building private, paid and proprietary communities becomes cheaper and more widely available, we are going to see a boom in these owned networks. – David Mattson, Sandler

10. Cleantech

With the passage of the Inflation Reduction Act in the United States and the clean-energy package for all Europeans, clean technology is becoming a global juggernaut. Focusing attention on this industry is time well spent. The canvas is blank when it comes to ideas, concepts and implementation of sustainable tech, so now is the time to think green. – Tyler Trimbath, Trimbath Advisory Group

11. Profiling Services

Profiling is a growing service. From recruiters to tele-agents, every human-facing role in the industry works better with data. The more customized the role is, the better. Profiling services offer hypertargeted lead lists, which make the biz dev market more efficient, of course. They also increase speed by reducing cold calls, but there are also issues of privacy and relevance that need to be revisited from time to time. – Wajid Mirza, Arthur Lawrence

12. Voice Technology

Voice technology offers product-related advantages like efficiency and convenience compared to typing, resulting in more conversational interactions. Our research finds that customers expect products to be compatible with voice assistants across platforms. Growing businesses that want to offer seamless user experiences should consider adding voice-integrated chatbots and search functionalities. – Claire Alexander, Capterra

13. Fractional Leadership Services

With so much tech innovation and opportunities that a small regional startup anywhere in the world can scale to meet global demands, what gets overlooked is true domain knowledge. Organizations may not have the means, expertise, ability or long-term need for a particular long-tenured seasoned leader. For the biz dev industry, due to its pure people-centric nature, this is pronounced more so. – Mustansir Paliwala, EQUANS

14. Edtech

Investment in education technology continues to grow with increasing demand and interest in online education specifically. Startups are disrupting degree-awarding universities and reshaping the education and training industry. As students want more returns from their educational investment and as institutions continue to shift toward blended learning grounded in digital technologies, the edtech industry looks promising. – Chor Meng Tan, Wiley

15. Advertising In Gaming Ecosystems

The new branch of advertising in the gaming sector seems to be extremely intriguing. It is a chance for brands to reach a highly engaged audience with their message. The gaming industry is growing, and today’s marketers need to be agile, willing to adapt to new media channels and open to executing their branding campaigns in previously undiscovered marketing spaces. – Anna Jankowska, RTB House

16. Health And Wellness

People are turning to wellness to manage their health, improve their quality of life and reduce dependence on expensive medicines. Wellness covers many products and services promoting health. It includes medical devices, fitness and wellness apps, self-help books and health monitoring and tracking devices. The thing to remember about wellness is that it’s a lifestyle more people are choosing. – Wayne Elsey, The Funds2Orgs Group



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