SMC, are often asked to develop sales (business development is the term often used by companies) and SMC begins by developing a system for the Business Development Process.
This involves 3 steps:
1. Meeting to understand what a client offers.
2. Adopting a Strategic Position for Business Development.
The approach adopted by SMC normally involves consultative selling. In consultative selling, the initial focus is on first understanding the needs of the customer. This approach requires experience, confidence, understanding and diversity. It does not involve any preconceived ideas about selling specific products. It may take a bit longer to gain the trust of potential clients but there is a greater upside on the sales front. It is hoped that this approach in time will lead to collaborative selling. In collaborative selling, both buyer and seller become customers to each other. The approach normally has three key objectives;
- forwardBuilding relationships with both existing and new customers.
- forwardMinimising short-term risk for both existing and new customers.
- forwardMaximising long-term gain for customers leading to natural synergies that create a partnership between the buyer and the seller.
3. Meeting with potential customers.
The approach adopted by SMC is to meet with potential customers and existing customers and build relationships through discussion. This in time normally leads (not in all cases) to a trust being formed which results in customers and potential customers identifying their needs and also providing business opportunities for our clients.
The success of this approach.
The process normally takes place over a 6 month to a two-year process and is reviewed quarterly.
Success of SMC
As a direct consequence of this business development work undertaken by SMC, many clients have achieved significant sales and built key relationships.
Companies need to invest in marketing.
Companies, as well as Business Development, also need to invest in Marketing to grow their brand.