Your Next Phase of Growth is in your Contacts Folder: 3 Business Development Best Practices
Growth is not always as difficult or costly as hiring a new sales resource or engaging a marketing firm. Companies who are just looking for a boost can benefit from a few simple tactics that unlock the business development value of your existing relationships.
- Don’t forget to ask: Time and again, we find that organizations have either never asked clients for referrals, or haven’t asked in a long time. It is important to frequently update your network of peers and clients so they now how to refer you. Here is what they need to know:
- What has changed in your organization (this is your reason to call)
- What kind of clients you are best at helping (paint a picture of your ideal client)
- Why your business/service matters (give them a reason to believe)
- Update your LinkedIn profile: A smart update that demonstrates company growth or re-positioning almost always sparks a round of emails and calls from peers who are personally, or know someone, who is struggling with the problem you solve.
- Revisit the people who were not ready to buy: Too often, qualified leads who didn’t immediately buy, are lost or forgotten. We ask clients to think about their last three product or service purchase and remember how long it took to make the decision to say yes. Not everyone is ready to buy today. Reach out to those qualified leads and give them a new reason to buy.
These are certainly not high volume tactic, or tactics that support sustainable growth. However, they can inject the needed fuel into your BD program at almost no cost and the sales cycles tend to be accelerated as well.
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