April 24, 2009

The new business development equation

There is a new equation to calculate the rate of success you can expect to from your business development activities.  Well, it is actually not new at all, although for many people it is newly discovered. 

It states the obvious - new business generated is a function of the number of sales; calls, emails, letters and meetings.  It works on two levels:

First, the building of the sales pipeline is directly related to the volume of each of these elements.  Sales is not just a once off email, or meeting that is required to close a deal, but an ongoing and systematic process of calling, emailing, meeting, etc.

Second, the level of success with any prospect, or sales opportunity.  That means calling prospects and keeping in touch by email and letter, sending the occasional useful piece of information (a case study, white paper, etc.).   

Related posts:

Keep in touch.  Nobody gets left behind.  People are interested in people who are interested in them.  You cannot trust people you don’t know.  Relationship selling.

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