Excellence in Business Development dictates a clear understanding that the process begins with strategic planning and prospecting/networking. In order for this process to be effective, one needs the ability to capitalize on client referrals and warm market introduction, establish new industry contacts via cold calling, e-mail campaigns, attending industry events and conferences, and promoting brand awareness. The Business Development Specialist understands the market by researching its trends and issues, analyzing competition, and studying industry publications. These steps in the business development process facilitate the ability to identify and cultivate lasting industry relationships.
The execution of effective networking and prospecting results in the need to create comprehensive, compelling, and productive proposals for potential clients. Once developed, the leads should be tracked through the cycle, maintained, and enhanced to fortify the client relationship. The key is to become a trusted adviser by truly listening to their challenges and needs and responding with options and guidance. Follow-up with existing clients by requesting survey responses and conducting interviews is essential to monitoring the customer's satisfaction level with our product and/or service. Further, one must stay abreast of any potential new opportunities for his company to provide additional solutions for existing clients. This is defined as Opportunity Assessment.
The key traits of the successful Business Development Specialist are creative problem solving, strategic thinking, and financial understanding. These skills must be combined with the attitude of being a team-player who's able to lead the decision-making process by exhibiting exceptional communication skills and persistently driving customer revenue.
Thursday, August 27, 2009
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