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00:00 Introduction to Business Development Strategies
00:30 Targeting small and medium-sized businesses
05:33 Targeting businesses
10:09 Refine your prospecting strategy
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Introduction to Business Development Strategies
This video will show you how to create your business development strategy to get more meetings and close more deals.
Targeting small and medium-sized enterprises
The first type of business development strategy is to target SMBs or small to medium-sized businesses. These can be local stores, retail stores, restaurants, etc. If you are a business development representative selling to SMBs, the most important thing is to define your ideal customer profile and have high velocity. To create your prospecting list, you can use directories like Yelp to find businesses and use their search and filter features to narrow down your target. From there, you can go to the businesses’ website and find their email, phone number, or Instagram account.
Targeting businesses
The next business development strategy we’ll talk about is the enterprise-focused one. When your business development is enterprise-focused, you’ll typically have less velocity, but each potential lead is worth much more than the average SMB. This type of business development prospecting can be very profitable because a single good customer can generate a significant portion of your revenue.
Refine your prospecting strategy
Once you start closing business development deals, the next step is to analyze what’s working in your prospecting strategy. Ask your customers why they choose you over your competitors, what they like about your product or service, and what can be improved. From there, you’ll want to use this information to refine your business development and sales prospecting strategy.
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Patrick Dang is an international sales trainer who started his career at Oracle in Silicon Valley and quickly became one of the best in North America in just one year.
After gaining experience in the corporate and startup world, Patrick began sharing his knowledge with modern sales students around the world.
Since then, Patrick has trained over 70,000 students in 150 countries on topics including how to start a career in sales, business development, lead generation, cold emailing, LinkedIn, cold calling, and sales skills.
Patrick's vision is to inspire others to pursue their dreams and provide the knowledge and tools to make those dreams a reality.
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#business development #commercial prospecting #prospecting
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