Business development is paramount for growth and success, which is why the role is so important in most businesses. A business development manager in many cases is the cornerstone of the organization, as they ultimately are the one who generates new revenue in order for the business to grow. This is why many of the top agencies provide extensive business development training for both individuals and companies, in order to give them the greatest chance of success.
The key role and objective are to identify new business opportunities. This means looking at new markets, partnerships and new ways to reach these existing markets. The process all starts with the right training, in order for you to be able to tackle these challenges. The training firstly includes you handling telemarketing on a whole and how this works. You will also get coaching across how meetings work and in new business pitches from the start to the end of the process. This will also help in fine-tuning skills when it comes to winning business.
CRM or customer relationship management is another hugely important process for those looking to become an expert in business development. This is all about building relationships with customers, which will create loyalty and then customer retention in the long term. These qualities affect a company’s revenue, so CRM is a very important part of the role. Technology has now meant there is CRM software available, to help businesses and individuals with this process. This tool now helps users manage sales, marketing, point of sale (POS) transactions, accounting, vendors and all other operational data.
Another important part of training comes with the ability to run a meeting. This is something that will be learned from the outset and part of any training model. However, this is going to be a regular part of the role and being able to do this successfully is important.
Lead Follow Up
Lead follow up is the most important of all aspects of the role. This needs to be done correctly in order to turn the leads into business. There are a number of tactics you can keep to in order to effectively approach these:
- Responding in a timely fashion is important. You could do this by simply arranging a thank you email or phone call, in order to look to further grow the relationship.
- It can also help to stand out, so personalizing your communication is another step that can be taken
- You can also communicate through various channels
- Always creating a follow-up schedule for all leads
- Tracking communications of each step of the process with each lead