One of the most important gauges of success for any business is the ability to convert potential customers into clients. In a highly fragmented industry such as telecommunications, achieving even 1% of the market share requires sound business development support to shorten sales cycles. The purpose of this blog is to demonstrate the need for business development services for small telecommunications companies.
Definition of Business Development
Business development (BD) is not sales. Contrary to popular belief, business development has a different role than sales activity. BD usually involves the process of identifying potential customers. This may include an internal qualification process of identifying client’s. In providing telecommunications products and services, the process requires a great deal of research analyzing the client’s technical requirements, budgets, and timeframe for installation.
Many new telecommunications companies assume that “if you build it, they will come.” The assumption is that clients will purchase new technology. However, these assumptions are wrong. Clients are more prone to buy based on relationships through a consultancy approach. This is where business development professionals are crucial as an asset to supporting sales.
Here are more reasons for justifying business development personnel:
• Gathering market demographics
• Performing SWOT analysis
• Getting your foot in the door
• Provide feedback on realistic sale projections
• Developing strategic relationships that influence your clients’ purchasing behavior
The job of BD is not to close the sale but to schedule a sales meeting. If done correctly, BD professionals are vital for helping the sales professional close the sale quickly and efficiently. Therefore, do not overlook the value of this value added service for your sales department.
If you require the need of a business development person, please contact me toll free at 1-877-593-2085 or email at info@nashawnbranch.com
Keep Achieving,
NaShawn Branch
Telecommunications Management Consultant
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