Business development requires a duo of solid strategy and finely-tuned tools. Each bleed into the other, with the tools you use informing how to adapt your strategy and your methods relying on using your tools. Your business requires the right combination of both to help you work smarter, not harder.
In this post, we’ll take a look at some of the essential tools for successful business development, many of which are hiding in plain sight. The question is, are you leveraging them correctly?
Cold calling has gotten a bad name. Since the first days of sales, there has always been some method that just isn’t working, because people don’t like it. Cold calling had gotten that reputation as of late. However, as a member of NuGrowth’s successful outsourced sales team, I can say with certainty it’s not the call that’s the problem, it’s how you execute it.
Though the sales as a service model may be a relatively new concept, it’s quickly becoming a significant player in the business development sector. The rise of startup and entrepreneurial culture means new businesses need a jump-start to get off the ground, and veteran companies need a revamp to come up to modern times.
At NuGrowth, we’ve been in the sales as a service (SaaS) game for over a decade and have seen the SaaS model develop and gain major traction. Sales as a service provides businesses with the product knowledge, technical support, and outreach and development training many are lacking. See how SaaS is taking hold in business with these stats on the sales struggles many face. Read More
You’ve got the product (or service). You’ve got the people. Now all you need are the customers.
Whether you’re breaking into an industry or breaking the mold in one, implementing a go-to-market business development plan is a challenge. While each sector has its nuances, there is a template for crafting and executing effective go-to-market operations. It all starts with gathering the right ingredients.
The difference between a clean and cluttered database can be more significant than you think. It’s about more than peace of mind; it’s about your bottom line. An Experian Research study found bad data can result in over 12% in lost revenue. In contrast, businesses with superior data management see lead generation jump 152% beyond the average.
How can you achieve these impressive results? See what you need to obtain and maintain a clean database and how an outsourced sales partner can help.
There are dozens of articles and blog posts out there aimed at improving business development. From new strategies to better workflows, each attempt to hit on that missing ingredient. Though each contains some helpful advice, at times they get lost in the details.
We’ve coached countless business development teams here at NuGrowth and often find the problem isn’t the need to zoom in, but the inability to zoom out on a sales strategy. When we first meet with a team, we start by looking at the big picture, honing in two important factors: pace and purpose.
Sales teams are always chasing the elusive “perfect pitch” – that magic formula that makes every prospect say “yes!”. Though there isn’t a way to get a guaranteed “yes,” there are certain elements essential to a specialization in business development pitching.
A recent survey showed low productivity/performance is the #1 challenge for sales managers. At NuGrowth Solutions, we focus on finding what’s slowing these teams down. The blockades we see boil down to four key factors: team diversity, culture, training/coaching, and communication. Let’s break down these four factors for sales team success:
Great food starts with quality ingredients. Black truffle oil adds something to a dish that canola oil cannot. But, if you only have bottles and bottles of truffle oil, you’re missing a lot of what it takes to make a mushroom risotto or the best grilled cheese you’ve ever had. You need more than just one quality ingredient to make a dish.
