Researched Business Development Best Practices.
Author: Anders Christian Hjort
At www.huthwaiteinternational.com looking at the Business Development role and best practices, we know from our behavioural research what the most successful business developers do differently compared to their average peers.
We have observed more than 40.000+ B2B consultative selling conversations in our on-going research so far and 27.000 negotiations. Adding to this our experience from our accredited trainer observations. Last year we worked in 65 countries, in 22 languages for 14,000 sales executives via 1011 events
We are proud to bring science to business development and to the sales and business development community as a whole. We have worked with a number of leading Universities and business schools and constantly publish new research into the selling and negotiation behaviours of the worlds top companies.
Let’s share some of our research finding relating to your requirements.
The 7 Fundamental Business Development Disciplines outstanding consultative sellers master:
No matter what your issues are, our research shows that there are some common factors that are 7 fundamental disciplines to success, of which all Business Development executives should be aware:
1. Strategies and tactics for competitive advantage
Knowing your competition is standard practice – and rightly so, but how do you sell to your strengths and not theirs?
2. Understanding and influencing the decision-making unit
Knowing customers’ decision-making processes is second nature to most business developers. But understanding where each decision maker fits within the buying process and what issues to address at each stage can be the difference between success and failure. Social Selling Skills are becoming the outstanding business developers new friend before, during and after the sales.
3. Questioning & listening techniques generate sales and loyal customers
It’s now an undisputed fact that effective questioning and listening skills are fundamental to business development success. It’s equally true that everyone can ask questions. So why doesn’t every question-rich sales meeting succeed?
4. A holistic approach to selling
The buying process, from a dawning awareness of dissatisfaction with the current situation to acquiring the replacement solution, is often long and tortuous. Mapping that process every step of the way with effective business development skills and strategies is equally complex.
5. Key accounts or big accounts?
Pareto’s Law suggests that 80% of revenue comes from 20% of customers, and for many companies this is an accurate reflection of their customer spread. Identifying the 20% correctly and managing the accounts appropriately should be a key part of every company’s strategy.
6. Influence decision-makers you will never meet face-to-face
When was the last time you were in the same room as your customer when they made the decision to buy? Increasingly, buying decisions are made behind closed doors and by more than one person. It’s inevitable therefore that there will sometimes be key decision makers who you can’t meet or, at best, are just faces in the crowd at your formal presentation.
7. Awareness of “How well” they do the above 6 disciplines
Most Business Development executives simply do not know how outstanding business development behaviour looks like. They do not have a specific best practice reference to self-assess and benchmark themselves, and thus have no clear understanding of their behavioural profile and in what areas they have focus to improve their skills, strategies and tactics that will help them improve results.
What are you’re thoughts?
Feel free to share your reflections and experience.