When you talk about business development - most people think of sales people. The reason that businesses have lead development issues can stem to this type of thinking. Business development is an approach, and involves many activities and departments - and the plan that integrates them and budgets for them.
But even when just considering the sales team: Most sales teams do a great job of guiding a prospect through the quote process. Fewer make expert strides through proof, close and negotiation phases. You might think that these can be the most daunting areas - but there are others that trip up most sales teams.
How do I plan, target, then drive my own outreach? Leverage marketing services to take prospect interest to inbound. Most sales reps have trouble getting strangers to open up, give them time, and become prospects. "Hunting" is what some call it - developing "relationships" are what others call it - and there are those that term it "consultative or solution" selling. Whatever terms you'd like to use, and in any setting - its important to realize that outbound activities - are efforts to make friends - and an important part of your business development strategy. How are your team members at "starting" the process and doing that outreach?
A combination of inside sales/account managers, business development reps, or consultants, are often sought to be continually generating conversations and ensuring your solutions are known for the problems they solve and the values and results they bring to the targets who could be your ideal client. Your marketing strategy, sales support plan, digital presence, tools, collateral and the media channels you use to deliver your message are important air support to these sales efforts. Marketing can't be the entire activity to drive lead gen opportunity - but there are methods of outreach that can help in generating inquiry when done correctly. It often is the first spend eliminated in a budget - but is the sign of short-sighted transactional thinking. Turning Interest into Inbound is key.
You need to think long term. Do you have a business plan and approach for success - or are you leaving that to the people you hire in sales? If you are - you'll have winners 1 out of 10 times or fewer. Are your business development team members in need of assistance and training (beyond your solution, product or service training)? What plan do you have for tools and practices in sales enablement and the marketing activity to generate inquiry for follow-up and reputation messaging? Check out our podcast on SPOTIFY for insights. We can help you start, improve or rebuild your approach to a standard that delivers results on the balance sheet and in the prospect/customer/partner mind. Start thinking long term - and support and budget for an integrated approach. Let's talk:
LouMac Strategies llc
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