Nice post, reblogged from Financial Sales Pro:
Click here to read the entire article: Do you have what it takes to succeed as a business developer?
What’s the activity level? So you’ve got a great plan, now what? Implementation is the key. We all know BDOs who spend days, if not weeks, sitting in their office fine-tuning marketing materials, letters, etc. In my opinion, this is clearly not the best use of a BDO’s time. If a BDO’s activity level doesn’t match what’s been laid out in the initial plan, then you may be heading in the wrong direction.
I have long subscribed to a very simple sales management process:
- Activity: Always start by ensuring that advisors are getting out of their office and meeting with enough clients and prospects. Nothing else in sales management much matters if not.
- Effectiveness: If advisors are conducting enough meetings but their close ratio is low, they may need specific skills coaching. Practice sessions and joint calling can be effective techniques.
- Efficiency: Your top 20-25% producers are probably fine on activity and effectiveness, so often the key is finding ways to free them from non-selling activities and get them more time in front of clients and prospects.
Do all of your BDOs have what it takes?