Every business that has gone online has one common pain-point and that is getting conversions! Not to be surprised the pangs were equally loud for both the B2C and B2B businesses. This might interest you even more that lead generation turned out to be the gravest challenge faced by over 60 percent of businesses in 2019. Now that is not insignificant.
Coming to think of it, the feeling becomes even more grave if you already have had a business development team in place. It then gives way to a compelling need to rewire your business development strategies. It does make sense as well. The business development team should effectively comprise of your best men. Remember it is not always the business development techniques but the men you execute it will make a difference. But, that does not in any way mean that we should not worry about the business development toolkit.
So, what will form the most promising techniques of business development in 2020? Let’s take a look:
The 80-20 Rule
Okay this may sound cliché but yes it has not lost its relevance. Remember, the takeaway- a major chunk of your business growth is driven by merely 20% of your visitors. So, it makes sense not to go after all and try to direct your energies to the ones that really matter.
Go After Decision-Makers
This is no longer a secret in this era where social media rules. So, you have to look for and actually focus on the primary decision-maker in an organization. Remember, pitching to the wrong guy is as bad as not pitching at all. You have to ensure that the person you actually pitch to has the authority to make decisions. If you are unsure about the hierarchy, LinkedIn is your answer.
Build Relationships
It can be B2B or B2C, everywhere you are dealing with humans, at least for now. Going further if you start making pitches to robots, then it’s a different ball-game altogether and you might consider one from your end as well. Chances are ripe, all thanks to AI, that machines also think about building relationships! Relationships matter as they appeal to emotions. Latter is the buzzword.
All Deals Matter
Yes! they do. You might doubt this figuring in the business development tools and techniques. But there are those very interesting organizations who only love to get clients and tend to forget the ones they already have. This is no fiction but a hard truth that many businesses at hell-bent at making new deals but have no idea about sustaining relations with the old ones. Remember, it will be your old partners that will act as your volunteer brand ambassadors, so it makes sense to nurture your partnerships well.
Organize your Efforts
This usually is possible by using a centralized database or app that lets you manage all your contacts and leads well. Not only that all your present and future tasks will also be enumerated so you can develop a plan ahead. This saves time and definitely gives you enough cushion to prepare. It makes sense to leverage your resources well as it will boost your productivity and you will be able to deliver ahead. Once the routine tasks are handled well, you can spend most of your time on fostering your relationships or branding.
Upskill
Certifications and training are really helpful and going further they will become one reason why businesses will want to partner with you. With so many options the filters to choose will be quite different and getting your job done from certified professionals will make a lot of difference. So you can invest in your workforce and arrange certifications so that they add more value to their work and the organization.
Business Development techniques were never just confined to software tools. It is the people you put forward who will make all the difference. Going forward in the decade that will be laced with many technological breakthroughs the firms that will make an impact will be the ones who keep relationships first and are able to gain an edge banking on the emotions. Remember there are no business development tools that can surpass the power of emotion in decision-making.
Now that you know the secret to growing your business and also how to build the dream business development team, let us also have your thoughts on the same. We would love to hear your experiences and insights.
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