The Changing Face of Business Development

Wednesday, June 30th, 2021

The Changing Face of Business Development
 
The pandemic had a huge impact on B2B selling as businesses went digital almost overnight. Some things didn’t change in that companies still needed to reach and engage decision makers, understand their challenges and requirements, present solutions, build trust, and nurture
relationships, but the methodology had to adapt in the face of new restrictions. As lockdown conditions ease, are we likely to return to in person meetings, or are virtual interactions the way forward?
 
Many B2B buyers are now confident making significant purchases online and, in fact, the vast majority prefer to do it this way. With remote selling and digital prospecting now deemed to be just as effective as face-to-face meetings, what are the implications for B2B companies and how is the business development process adapting to this new landscape?
 
Research and market intelligence
 
At CBG our most valuable currency is the quality of our knowledge and expertise. We invest a lot of time in identifying new opportunities and researching prospects to understand the most relevant
ways to reach out to them, what their specific challenges are and where we can add genuine value.
 
We also take the time to ensure we are well-informed about our solutions and the relevant market sectors and industries.
 
Companies are embracing new sources of data and market insight to undertake research and there has been a huge growth in the use of sales technology, such as virtual collaboration platforms and CRM databases. At CBG we are also seeing people leverage social media platforms, either interacting and engaging with target customers, optimising profiles, learning about algorithms, and posting thought-provoking and informative content to maximise reach.
 
 
Virtual sales channels
 
The use of virtual meetings has been a more efficient use of time and has also proved to be more cost effective than traditional methods of interacting with existing and prospective customers. Video calls have been embraced as a preferred and more personal method of communication than phone calls alone, helping to build a rapport and nurture relationships.
 
In addition, there has been a huge increase in the number of virtual events such as webinars and podcasts which are replacing traditional channels and proving to be successful methods for reaching out to potential targets, building awareness, and sharing specialist knowledge and industry insight.
 
The CBG approach
 
CBG’s proven sales methodology takes a customer-centric approach and the key to our success is really listening to customers and solving their challenges. We are prepared to (respectfully) challenge a prospect’s way of thinking! Telling customers what you think they want to hear is a recipe for disaster and we like to offer an alternative perspective, believing that you are more likely to build a trusted relationship with someone who is honest and has sufficient confidence in their expertise to challenge your existing thought process and offer innovative solutions. In addition, our success metrics tend to focus on building long-term relationships, customer loyalty and retention, rather than just short-term sales goals.
 
To find out more about CBG’s Market Development and Business Augmentation Services please contact enquiries@cyberbusinessgrowth.com or call us on +44 1223 843903.
 
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