What is commercial development? Make your business prosper with 5 tips on the topic
Does your company invest in business development? By the way, do you know what commercial development is? We can summarize the strategy as a set of actions designed to optimize processes and offer customers a high quality service.
Therefore, actions with this focus can be present in all stages of the sales funnel, from marketing to after-sales.
If you are interested in the subject and are looking for tips to incorporate best practices into the company's routine, you've come to the right place.
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Throughout this article, you will find out in detail what business development is, 5 ways to insert it into operations and a bonus tip to maximize results in the company. Good reading!
What is commercial development?
Commercial development is a strategy whose essence is the continuous improvement of the sales force. For this to be possible, companies need to carry out multidisciplinary work, involving professionals from different areas.
In general, a business development team is composed of:
- leaders of the commercial areas;
- human resources sector;
- IT and marketing sectors.
Every professional plays an important role in business development. While leaders identify opportunities for improvement and prepare their teams to incorporate new processes and tools, HR is responsible for providing training and updates.
Likewise, the IT and marketing sectors support the feasibility of strategies, whether by acquiring new software or designing a new system, or by preparing support actions and dissemination of new practices.
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How to put commercial development into practice? 5 steps
As an intrinsic strategy to the sales force's routine, commercial development can be seen in several activities of the company. See some moments in which it is possible to identify commercial development policies in companies.
1. Reformulation of internal processes
Paying attention to how processes are carried out and showing openness to their optimization or modification is one way of putting business development into practice.
Companies with mapped and available processes are more likely to perform better in sales than others. This is because the processes act as guides for the team.
So, if a company is constantly looking for business development, monitoring the team's modus operandi and periodically reformulating them are fundamental activities.
2. Commercial team development actions
Betting on training for the sales team and their leaders is, without a doubt, a way to put commercial development into practice.
According to the Selling Power portal, providing sales training can help increase teams' success by up to 29%. Is it or is it not an effective way to promote business development?
In addition to reinforcing operational practices (so-called hard skills), behavioral training, mentoring and lectures are excellent opportunities to develop soft skills. This is the name given to personal skills and competences that can be used in the work routine, making the performance of professionals differentiated.
Here are some examples of the skills of high-performance sales professionals:
3. Adoption of new technologies that integrate areas and optimize routines
Including new technologies in the routine is a way to bring constant commercial development to the company. This is because the designed solutions streamline processes, integrate sectors and directly impact the quality of service offered to customers.
CRM and ERP are some examples of technologies and tools that have come to revolutionize commercial routines. While CRM (Customer Relationship Management) helps manage the customer base and helps manage the sales force and business, ERP (Enterprise Resource Planning) is a set of unified software that manages the organization's processes as a whole. His focus is on resource planning and how to increase the efficiency of these processes.
4. Encouraging internal collaboration and working in partnership
Integration between sectors is one of the trends of companies that bet on commercial development to leverage their businesses. And this is directly linked to the value given to the customer experience.
Consumers can no longer stand to find disconnected services in the company and, for them, repeating information over and over again to get an answer is a nightmare.
To get around this obstacle, companies have found internal collaboration a powerful tool to offer more synchronized and complementary services. According to the Resourceful Selling portal, 91% of companies with exemplary performances use collaboration between all departments to close large contracts.
With synergistic teams and with the help of good tools (such as CRM, which we mentioned above), it is possible to manage the consumer's journey in an integrated way, accessing their interaction history and understanding what they want without a constant need for repetition .
5. Experiences with new work management formats
The digital transformation presented us with a true revolution in work models. With the new coronavirus pandemic, incorporating digitization into the routine has become imperative for many companies.
And, despite representing an initial blow to many corporations, the new work models imposed by the need for social isolation also accelerated some ways of achieving commercial development, such as:
- use of tools to prospect and nurture customers (such as LinkedIn and other social networks);
- products and services adapted to the reality of social distance;
- leaders and managers needed to review their way of following the team in a remote work model ;
- the agility in the response has become one of the main differentials of brands and companies that provide sales services over the internet;
- The routine follow up gained even more space, consolidating its position as a key tool in the organization of sales processes.
How to invest in your company's commercial development?
Throughout this article, you noticed how business development can be present in different activities of a company, right?
Investing in continuous improvement in a broad and organic way is, without a doubt, one of the great secrets for business growth.