Sales Speak: Keys to Business Development Success

Simplify Business Development Efforts

It's no secret that your professionals are busy. But it is also no secret that your professionals are uniquely qualified to generate new business and close sales. So how does a business balance the need for professionals' involvement in the business development process with the reality of booked schedules? By simplifying the business development process to its most basic form.

Become a Matchmaker

Work with your professionals to find out what their objectives are, and to learn more about the kinds of clients they have and the kind of clients they'd like to have. Armed with this knowledge, you'll be better able to identify appropriate prospects and then to introduce them to the right professional within your firm.

Play to Their Strengths

Some people may be gifted orators, while others may be naturally gifted at writing or especially adept at navigating the world of social networking. Talk with your professionals about the types of marketing activities that they feel comfortable and confident with, and then identify opportunities that give them the chance to shine.

Prioritize Activities

Being able to check off an item on your to-do list always feels good, but it can be especially satisfying as you near the end of your list. Help create a positive view of business development activities by creating focused, prioritized to-do lists for your professionals that allow them to tackle business development efforts without feeling overwhelmed.

Utilize Existing Clients

In our work, we frequently point out that new business comes from three sources: 1) Current clients; 2) Referrals; and 3) New prospects. Of the three, the most overlooked client development resource is current clients. It is amazing how often we hear, “But how do I ask clients for referrals or repeat business without offending them?” Fear of offending your clients is just an excuse ' and not a very good one.

If your firm's work has been solid and helpful and you are working on building trust-based client relationships, ask away. Introductions to a client's colleagues in-house or at other firms are just a luncheon away. Ask to pick their brains and find out what they see on the economic and business horizons. Let them know you are trying to adjust your practice for the future and that their input would be invaluable.

Worried about putting yourself on the line? Focus on the help you can provide and become a business partner when it comes to solving their problems. Suggest that your client bring in their business unit manager for a brainstorming session focused on the areas where they need the most help. You can even consider introducing them to other clients ' with their permission, of course ' from non-competing industries that have faced and overcome similar challenges.

Building solid client relationships and taking action when opportunities arise are critical to business development. Asking your clients for their business is a direct action ' and one of the best marketing approaches. Take advantage of it.

Plan Ahead

As we've said before, closing business does not begin with the presentation of an engagement letter. It begins with the introduction and first handshake ' whether that happens at a conference, dinner, a fundraiser, or even a PTA meeting. From there, what are the next steps in business development?

If the prospect is a first-time acquaintance, offer to send an article on a relevant topic and suggest you'll call in two weeks to make sure the article was helpful. If you've been working on a proposal and haven't heard back from your prospect, leave one or two voicemails and send an e-mail; if these aren't returned after a reasonable amount of time, suggest a specific time and day when you will be calling, and confirm with voicemail and e-mail. This can ensure that the person is available to speak with you and gives you the opportunity to plan for the next steps.

Whenever there is a next step required to build a new client relationship, ask what day and time work best for your contact and let them know you'll be happy to work with their schedule. Closing sales never stops ' it's a continuous process that requires “permission marketing” and a mutual commitment to taking the next step.

Be Accessible and Respond Quickly

Market gains do not happen automatically. And in our current economic environment, savvy professionals see real opportunities. Small and midsize companies are finding opportunities to close with new clients that may not have been previously accessible to them. So what do we recommend? Be accessible and respond quickly. Be amenable to new ideas and new ways of doing business.

Be a business partner to your clients ' and have the same goals they do.

Be Well Prepared

To be prepared for any opportunity to develop new business, firms should have an arsenal of tactics at their disposal. Business development training sessions that focus on the experiences of those in attendance are akin to a visit to a “sales tactics” armory where you can stock up on new ideas.

Attendees at business development training sessions should share information about the efforts they are making to attract new clients or to win more work from existing clients. Exploration of their successes and struggles not only opens the door for feedback regarding their efforts, but also creates a spark of inspiration for others who haven't attempted the method.

Of course, these discussions shouldn't take place only during training sessions. Each regularly scheduled meeting of a practice group or office can include an opportunity for providing updates on business development efforts and initiatives. Many firms that have adopted this practice find that, in addition to adding to their business development strategies, professionals within the firm form stronger partnerships. As senior personnel begin to recruit younger associates and those new to the firm to participate in meetings, go on pitches, and engage in other sales opportunities ' they take a big step forward in forging stronger relationships, creating an increased client base, and realizing lasting success for the firm.

Follow Up

The key to successful marketing ' and closing more sales ' sounds fairly simple: Focus your efforts on activities that have great impact and value. As a business development consultant, I've had the opportunity to see a variety of sales techniques including:

• Multiplying the use of individual marketing tools to leverage wider exposure and generate additional responses.
• Increasing the number of professionals within the firm who are actively selling services.
• Establishing sales goals and timelines for reaching them.
• Conducting business-generation training sessions.
• Providing a format for building a long-term sales pipeline.
• Modifying proposals and pitches to maximize their impact.
• Measuring and reporting results of sales efforts.
• Analyzing both successes and rejections to identify the most effective sales tactics (completing success/rejection analysis).
• Making decisions that will improve under-performing activities and investments.

All of these can lead to closing more business. The key to the successful completion of each of these efforts is client retention. Of course, retaining clients can be the most challenging and difficult sales task that many professionals encounter.

Access Your Business Development Arsenal

Working with a business development consultant on an ongoing basis can help your firm stockpile an arsenal of tactics and tools for increasing its sales. However, when it comes to kick-starting the sales process, we have found that business development seminars are extremely effective at helping professionals make the connection between tools and tactics, and learning how to use both to gain confidence, build relationships, and bring in new business.

Seminars led by the Closers Group have both a broad and narrow focus. Our broad approach focuses on: 1) Analysis of what “understanding the client/prospect” really means; 2) Strategies for how to initiate and grow relationships; 3) Helping professionals “maximize rejection” and put it to good use in the future; 4) Providing substantive value in the selling process ' insights and strategy suggestions; and 5) Closing skills and actually asking prospects or clients for their work.

Our more narrow approach focuses on: 1) Identifying concrete business development tasks that can be evaluated and improved; 2) Refining talking points, cold-call scenarios, and elevator speeches; 3) Evaluating current industry and community association events to determine whether the potential contacts justify presenting or attending; 4) Preparing to follow up with audience members after a presentation; and 5) Determining whether publications are worth writing for.

Any of these approaches can be useful for firms needing targeted support of putting specific tools to start advancing and closing in on more sales.

Allan Colman, a member of this newsletter's Board of Editors, is CEO of the Closers Group. He may be reached at 310-225-3904 or via e-mail at [email protected].

The key to success in business generation is to keep the end in mind. Profitable firms invest in long-range marketing capabilities; that is, they take a view of the desired end result, land new work, and incorporate these goals into their support systems.

Business development, if properly implemented and managed, should focus on and take advantage of client targets that are already on the minds and on the lists (written or otherwise) of the firm's professionals and partners. Financial and management consulting firms remain salutary models, as historically they have been much more focused on specific deliverables and closings. They take to heart the axiom: “Always keep the end in mind.”

Here are a few strategies that will help you create business development situations that make the most of your professionals' time and increase your chances of closing the sale.

Simplify Business Development Efforts

It's no secret that your professionals are busy. But it is also no secret that your professionals are uniquely qualified to generate new business and close sales. So how does a business balance the need for professionals' involvement in the business development process with the reality of booked schedules? By simplifying the business development process to its most basic form.

Become a Matchmaker

Work with your professionals to find out what their objectives are, and to learn more about the kinds of clients they have and the kind of clients they'd like to have. Armed with this knowledge, you'll be better able to identify appropriate prospects and then to introduce them to the right professional within your firm.

Play to Their Strengths

Some people may be gifted orators, while others may be naturally gifted at writing or especially adept at navigating the world of social networking. Talk with your professionals about the types of marketing activities that they feel comfortable and confident with, and then identify opportunities that give them the chance to shine.

Prioritize Activities

Being able to check off an item on your to-do list always feels good, but it can be especially satisfying as you near the end of your list. Help create a positive view of business development activities by creating focused, prioritized to-do lists for your professionals that allow them to tackle business development efforts without feeling overwhelmed.

Utilize Existing Clients

In our work, we frequently point out that new business comes from three sources: 1) Current clients; 2) Referrals; and 3) New prospects. Of the three, the most overlooked client development resource is current clients. It is amazing how often we hear, “But how do I ask clients for referrals or repeat business without offending them?” Fear of offending your clients is just an excuse ' and not a very good one.

If your firm's work has been solid and helpful and you are working on building trust-based client relationships, ask away. Introductions to a client's colleagues in-house or at other firms are just a luncheon away. Ask to pick their brains and find out what they see on the economic and business horizons. Let them know you are trying to adjust your practice for the future and that their input would be invaluable.

Worried about putting yourself on the line? Focus on the help you can provide and become a business partner when it comes to solving their problems. Suggest that your client bring in their business unit manager for a brainstorming session focused on the areas where they need the most help. You can even consider introducing them to other clients ' with their permission, of course ' from non-competing industries that have faced and overcome similar challenges.

Building solid client relationships and taking action when opportunities arise are critical to business development. Asking your clients for their business is a direct action ' and one of the best marketing approaches. Take advantage of it.

Plan Ahead

As we've said before, closing business does not begin with the presentation of an engagement letter. It begins with the introduction and first handshake ' whether that happens at a conference, dinner, a fundraiser, or even a PTA meeting. From there, what are the next steps in business development?

If the prospect is a first-time acquaintance, offer to send an article on a relevant topic and suggest you'll call in two weeks to make sure the article was helpful. If you've been working on a proposal and haven't heard back from your prospect, leave one or two voicemails and send an e-mail; if these aren't returned after a reasonable amount of time, suggest a specific time and day when you will be calling, and confirm with voicemail and e-mail. This can ensure that the person is available to speak with you and gives you the opportunity to plan for the next steps.

Whenever there is a next step required to build a new client relationship, ask what day and time work best for your contact and let them know you'll be happy to work with their schedule. Closing sales never stops ' it's a continuous process that requires “permission marketing” and a mutual commitment to taking the next step.

Be Accessible and Respond Quickly

Market gains do not happen automatically. And in our current economic environment, savvy professionals see real opportunities. Small and midsize companies are finding opportunities to close with new clients that may not have been previously accessible to them. So what do we recommend? Be accessible and respond quickly. Be amenable to new ideas and new ways of doing business.

Be a business partner to your clients ' and have the same goals they do.

Be Well Prepared

To be prepared for any opportunity to develop new business, firms should have an arsenal of tactics at their disposal. Business development training sessions that focus on the experiences of those in attendance are akin to a visit to a “sales tactics” armory where you can stock up on new ideas.

Attendees at business development training sessions should share information about the efforts they are making to attract new clients or to win more work from existing clients. Exploration of their successes and struggles not only opens the door for feedback regarding their efforts, but also creates a spark of inspiration for others who haven't attempted the method.

Of course, these discussions shouldn't take place only during training sessions. Each regularly scheduled meeting of a practice group or office can include an opportunity for providing updates on business development efforts and initiatives. Many firms that have adopted this practice find that, in addition to adding to their business development strategies, professionals within the firm form stronger partnerships. As senior personnel begin to recruit younger associates and those new to the firm to participate in meetings, go on pitches, and engage in other sales opportunities ' they take a big step forward in forging stronger relationships, creating an increased client base, and realizing lasting success for the firm.

Follow Up

The key to successful marketing ' and closing more sales ' sounds fairly simple: Focus your efforts on activities that have great impact and value. As a business development consultant, I've had the opportunity to see a variety of sales techniques including:

• Multiplying the use of individual marketing tools to leverage wider exposure and generate additional responses.
• Increasing the number of professionals within the firm who are actively selling services.
• Establishing sales goals and timelines for reaching them.
• Conducting business-generation training sessions.
• Providing a format for building a long-term sales pipeline.
• Modifying proposals and pitches to maximize their impact.
• Measuring and reporting results of sales efforts.
• Analyzing both successes and rejections to identify the most effective sales tactics (completing success/rejection analysis).
• Making decisions that will improve under-performing activities and investments.

All of these can lead to closing more business. The key to the successful completion of each of these efforts is client retention. Of course, retaining clients can be the most challenging and difficult sales task that many professionals encounter.

Access Your Business Development Arsenal

Working with a business development consultant on an ongoing basis can help your firm stockpile an arsenal of tactics and tools for increasing its sales. However, when it comes to kick-starting the sales process, we have found that business development seminars are extremely effective at helping professionals make the connection between tools and tactics, and learning how to use both to gain confidence, build relationships, and bring in new business.

Seminars led by the Closers Group have both a broad and narrow focus. Our broad approach focuses on: 1) Analysis of what “understanding the client/prospect” really means; 2) Strategies for how to initiate and grow relationships; 3) Helping professionals “maximize rejection” and put it to good use in the future; 4) Providing substantive value in the selling process ' insights and strategy suggestions; and 5) Closing skills and actually asking prospects or clients for their work.

Our more narrow approach focuses on: 1) Identifying concrete business development tasks that can be evaluated and improved; 2) Refining talking points, cold-call scenarios, and elevator speeches; 3) Evaluating current industry and community association events to determine whether the potential contacts justify presenting or attending; 4) Preparing to follow up with audience members after a presentation; and 5) Determining whether publications are worth writing for.

Any of these approaches can be useful for firms needing targeted support of putting specific tools to start advancing and closing in on more sales.

Allan Colman, a member of this newsletter's Board of Editors, is CEO of the Closers Group. He may be reached at 310-225-3904 or via e-mail at [email protected].