Business development is an important process that has evolved over the years. Overall, the process and implementation of business development is still a mystery to many. While there are a number of approaches to begin your business’s development, we’re busting some of the top myths that apply across the board.
It’s everyone’s job to make sales
Not necessarily. While it should always be part of your team members’ roles to support the brand overall, it doesn’t necessarily mean that everyone has to be on their selling A-game 24/7. Your business will perform at its best potential when your team members are performing in their most aligned roles. If you didn’t hire someone to sell, you can’t expect them to.
Building a team based on members’ strengths is critical to the long term success of your business. There are roles within every business that don’t involve sales. When people are content and confident in their roles they’re more likely to share positive reviews of the business and maybe even lead to making sales in the process.
Selling is persuading
A true sale should not demand that a salesperson push someone into making a decision that isn’t right for them. The best sale to facilitate is finding the right client that is well suited for the product or service you are providing. Persuading a vegan to buy a hamburger is a lost cause. Your time is much better served trying to appeal to a hungry meat-eater that actually has some level of interest in the product.
Blair Enns of Win Without Pitching believes that “selling is simply facilitating a decision in a conversation or in a two-way interaction with another human being, who’s going to buy something from you.” The conversation of making a sale should be in an attempt to get the buyer one step closer towards their future goal or state.
It’s unrealistic to base your sales team’s training upon trying to persuade someone or force them into a sale that’s not right for them. You’re better-suited to train your team on how to find the right target audience that their sale can best serve.
Business generation stops once you retain a client
This couldn’t be further from the truth! In fact, client retention is where the relationship truly begins. Your existing clients are pure gold. Not only have they already shown you that they’re invested in your business by completing a sale, but they can also serve as referral partners going forward.
Working to maintain a positive relationship with existing clients may be the make or break factor between receiving new referrals in addition to positive feedback and testimonials. 72% of customers say that positive testimonials increase their trust in a brand. Retaining clients is a critical step in developing a positive reputation for your brand.
Business development and marketing are interchangeable
Business development is the start of the process of locating your target audience. Once you have gone through the process of business development and you have solidified the direction that you want your business to go, then the marketing process begins. While these two aspects of business growth go hand in hand in most cases, they are far from the same.
In most cases, business development is an initial effort when attempting to either start up a new brand or even rebrand an existing business. It may be a short-term process to partner with a professional to get your efforts pointed in the right direction but it is unlikely that business development efforts should persist indefinitely.
Marketing, on the other hand, should be an ongoing effort with no definite endpoint. As market trends change and adjust, so should your outreach and marketing strategy. Successful marketing strategies should be fluid and malleable in accordance with successes and failures witnessed as you go along.
One size fits all
One aspect where business development and marketing go hand in hand is that similarly, neither one of them are one size fits all. Strategy demands to be uniquely created based on the individual needs of a business and its team. While the structure of a successful sales playbook may be the same across multiple companies, the details and implementation of business development processes require in-depth dedication by an experienced strategist.
If you’re looking for support with clarifying your business development structure, KelNet founder, Kelli Yount, is your go-to partner. With her expertise and professional sales playbook, she may be just the resource your business needs to achieve your goals and create a strategy for the new year.
