Subscribe
Join 40,000+ sales and marketing pros who receive our 4x a week insights, tips, and best practices.
Thank you! You have been subscribed.

Free Guide: The Ultimate Inbound Marketing Strategy Playbook 2022

Read the Guide Subscribe
Join 40,000+ sales and marketing pros who receive our 4x a week insights, tips, and best practices.
Thank you! You have been subscribed.
Learning Center
Learning Center
Close

Learn

Access the Learning Center

Free resources to help you master inbound marketing and They Ask, You Answer

Access the Learning Center

Blog / Newest Insights

Jump straight to the latest inbound marketing and They Ask, You Answer insights

Access the Learning Center

Free and Pro Courses

Take your knowledge to the next level with free and Pro courses inside IMPACT+

Access the Learning Center

Recordings on Demand

On-demand recordings from past IMPACT events and livestreams

Access the Learning Center

Featured

Inbound Strategy Playbook 2022

Learn 7 foundational principles that have proven to set inbound marketing strategies up for success

Access the Learning Center

Free 5 Min. Inbound Marketing Assessment

Take this free assessment and learn what you can start doing today to boost traffic, leads, and sales

Access the Learning Center

Blueprint for a More Profitable Agency

See why coaching, not implementation, is the key to happier clients and better profit margins

Access the Learning Center

Case Studies

See examples of companies working with IMPACT and thriving with They Ask, You Answer

Access the Learning Center
Events
Events
Close
IMPACT+ Membership
IMPACT+ Membership
Close
Services
Services
Close
Navigation_8_2021_taya

They Ask, You Answer Coaching & Training

They Ask, You Answer Coaching & Training
They Ask, You Answer Workshop

They Ask, You Answer Workshop

They Ask, You Answer Workshop
Navigation_8_2021_workshop

Inbound Marketing Services

Inbound Marketing Services
Navigation_8_2021_website design - monitor

Website Design & Development

Website Design & Development
Navigation_8_2021_hubspot implementation

HubSpot Training & Implementation

HubSpot Training & Implementation
Navigation_8_2021_virtual selling

Virtual Sales
Training

Virtual Sales <br>Training
Navigation_8_2021_swell - paid ads

Paid Search & Social Services

Paid Search & Social Services
Become a Certified Coach
Become a Certified Coach
Close
Close
The Ultimate Inbound Marketing Strategy Playbook 2022

Free Guide:

The Ultimate Inbound Marketing Strategy Playbook 2022
Read the Guide
The Ultimate Inbound Marketing Strategy Playbook 2022
Free Inbound Marketing Playbook
View The Ultimate Inbound Marketing Strategy Playbook 2022
The Ultimate Inbound Marketing Strategy Playbook 2022

Free Guide:

Take your inbound strategy to the next level

  • Master the 7 principles of highly effective inbound marketing
  • Dramatically improve your inbound sales
  • Get more buy-in at your company

The 3 Core Elements of Starting a Business Development Program

By Kyle Bento

Kyle Bento also recommends this free guide: The Ultimate Inbound Marketing Strategy Playbook 2022.

The 3 Core Elements of Starting a Business Development Program Blog Feature

However valuable, setting up a successful business development program at your organization is no small undertaking. There are so many moving parts and it’s simply not realistic to try and tackle this all at once. 

Trust me, I learned the hard way.

Free Guide: The Ultimate Inbound Marketing Strategy Playbook 2022

In order to make the process more manageable, I’m going to help you break it down into chunks that are easier to grasp and act on.

It’s worth mentioning these steps are best implemented from a manager's perspective, but if you’re looking to do business development yourself, I’d say focus primarily on the first of three elements. 

But anyway, let’s jump right in.

Note: The following is a high-level overview of the concepts covered in a workshop I’ll be delivering at IMPACT Live 2017. Implementing these will be covered in depth and we’ll have the opportunity to chat in-person. Learn more here.

1. Layout Your Ideal Business Development Process

Your business development program will not generate results without activity. 

No matter how you slice it, increasing your business development activity will increase your outputs. So logically, it’s the best place to start.

In order to hit the ground running with this, you need a few core playbooks, which include the definitions, instructions, and best practices your business developement rep (BDR) will follow when they’re out there prospecting. 

Consider creating the following:

Qualifying Right-Fit Opportunities

The first step in getting in front of the right prospects is finding them.

Before every dial or email, your business development rep will need to determine if the prospect is qualified in terms of budget, location, and likely many other factors.

Inefficiencies here have staggering effects on the productivity of your reps, which is why you always need to clearly define and document qualifying criteria long before they’re up at bat. This usually will also include your buyer persona.

Engaging Prospects to Get a Response

This is the stage that gets the most attention and will likely be your most frequented playbook. 

All over the web, we read stories of the great successes and failures of business development reps as they try to break the ice in their outreach. In this playbook, you’ll prepare your reps for the best and worst, suggesting when they should be engaging, how often, and with what content.

Turning Conversations into Opportunities

The battle is not won when your reps get a response; They need to successfully turn that response into an opportunity. 

As with any great marketing campaign, this should be formed as an offer with a compelling call-to-action and this playbook should outline how. Share how your rep can properly educate your prospects on the value of your product or service, while also providing value your prospects cannot get anywhere else. This insight will be invaluable to a new business development rep.

2. Guide a Rep Towards Success

Everything mentioned above is only a starting point. 

In order to implement a successful business development program, you’ll need to hire the right person (or people) for the job, give them the right tools, and work with them to improve the entire process. This includes several elements.

Skill Sets

The first step towards this is often overlooked. You need to get the right person in the business development role. Without the right skills and attitude, your rep will struggle no matter how great the opportunity, incentive, or training. 

A rep needs to have the right communication skills, knowledge of your business/industry, and much more.

Resources and Tools

You then need to arm this rep with all the tools they need to be successful in their job. 

I think of it like this, you can hire a carpenter and provide them with plans for your new home, but without the right materials or tools, they won’t get very far. 

The tools and resources needed by your business development rep are going to be a mixture between those that can be created with internal resources (like a prospect fit matrix or a call review scorecard) and those that you’ll likely need to look externally for, like a CRM and proper data enrichment tools.

Feedback

Last but not least, business development reps should not work entirely alone.

They need regular coaching and motivation. Business Development is an incredibly difficult job and it’s the responsibility of the manager to keep morale up and remove an impediments standing in their way.

Building systems to monitor for coaching opportunities, both good and bad, is key to actively improving the results your reps generate.

3. Track and Optimize

Lewis Carroll is famously quoted for saying, “If you don't know where you are going, any road will take you there.” As with most business initiatives, this is predictably valid for implementing a successful business development program.

That’s why I recommend starting with an end goal (i.e. a certain number of sales, a particular caliber of client) in mind and working backwards from there. Setting SMART goals is a great way to do that. 

Once you have that goal and you know where you’re going, you can better determine if you’re on the right road.

Track the Effectiveness of Your Program

Knowing how to track the effectiveness of your program is the first step.

The best way to do this is by determining specific metrics that accurately represent your goals  and actively measuring them at every key stage of the business development process. This is significantly easier with an up-to-date CRM.

Test & Optimize the Program

Once you’ve developed baselines for these metrics, you can use them to measure changes in your conversion rate through the different steps of the process. 

It’s critical to understand small changes in conversion rate can have a massive effect on overall program performance. 

For example, how does changing this subject line change open rate or how does training our reps on better objection handling better improve their ability to connect with prospects. 

By understanding your metrics, setting goals to improve them, and systematically moving towards that goal, you can really improve the success of your business development program.

How to Report ROI

Last, but certainly not least, you need to be able to justify your investment in your business development program and figure out if you should scale it up, keep it as is, or scale it down. 

Reporting ROI accomplishes this and is relatively simple -- By setting up attribution, you can track opportunities and closed deals by their source. 

At IMPACT, we make sure every deal that enters our pipeline is accurately tagged in HubSpot and this helps us understand how our different channels are growing our business.

Ready to Start Your Business Development Program?

As you can probably tell, implementing a business development program is a lengthy, intricate process, but breaking it down into these key elements can be an effective way to check all the boxes over time. 

If you’re looking to explore each of these topics in greater detail, make sure to be at my in- depth workshop at IMPACT Live 2017.  Everyone there will leave with the detailed plans to succeed in each of these areas and ultimately with business development overall.

Hope to see you there!

Kyle 

P.S. If you haven’t bought your IMPACT Live ticket yet, what are you waiting for? There are only a few days left to save 25% on yours! Request your ticket now!

The Ultimate Inbound Marketing Strategy Playbook 2022
The Ultimate Inbound Marketing Strategy Playbook 2022

Free Guide:

The Ultimate Inbound Marketing Strategy Playbook 2022

Take your inbound strategy to the next level

  • Master the 7 principles of highly effective inbound marketing
  • Dramatically improve your inbound sales
  • Get more buy-in at your company

Topics:

Inbound Sales
Published on May 26, 2017

Recent Articles

The 5 Most Critical Inbound Sales Strategies Every Team Must Adopt
December 28, 2021 • 7 min read
What Is a Revenue Team? (Definition + Video)
December 16, 2021 • 9 min read
5 Real-Life Examples of Assignment Selling In Action
December 13, 2021 • 9 min read
Sales Enablement Checklist: 5 Questions Marketing Teams Should Regularly Ask Sales Teams
November 30, 2021 • 5 min read
Virtual Sales: How To Improve Sales Performance in a Virtual World
November 15, 2021 • 8 min read
How To Improve Your Sales Process
November 8, 2021 • 9 min read
What is the Value of a Digital Marketing Consultant?
November 4, 2021 • 6 min read
What is Assignment Selling? (Using Content to Close Deals Faster)
November 2, 2021 • 5 min read
HubSpot Sales Hub: 18 Things Every Sales Rep Should Know How to Do (+ Videos)
October 28, 2021 • 5 min read
How to Get Sales Reps to Use the HubSpot CRM
October 18, 2021 • 4 min read
How to Master the Art of Using Content in the Sales Process
October 12, 2021 • 10 min read
How to Know When You’ve Outgrown HubSpot Sales Hub Starter
September 23, 2021 • 4 min read
Sales and Marketing Alignment: How To Shorten Your Sales Cycle
September 17, 2021 • 8 min read
The Best Sales Enablement Tools for Your Team in 2021
August 30, 2021 • 11 min read
Your Buyers Want to Control the Sales Process; Here’s How to Let Them
July 28, 2021 • 6 min read
HubSpot CRM review (updated for 2021)
July 27, 2021 • 8 min read
5 HubSpot Sales Hub Tips for Assignment Selling
July 23, 2021 • 7 min read
How to Add Video to the Sales Process
July 20, 2021 • 6 min read
Get your sales team using your CRM platform in 5 easy steps
July 13, 2021 • 6 min read
9 marketing objective examples to guide your next digital strategy meeting (+ one bonus)
June 30, 2021 • 6 min read
How to Use Video for Sales (5 Easy Tips)
June 8, 2021 • 6 min read
Lead nurturing strategies, ft. Rich Quarles of glassCanopy (Inbound Success, Ep. 198)
June 7, 2021 • 24 min read
What is the Content Marketing Funnel and How Does It Work?
June 2, 2021 • 10 min read
What is Lead Nurturing?
May 28, 2021 • 9 min read
Sales and Marketing Friction is Hurting Your Bottom Line – Here’s What to Do About It
May 27, 2021 • 6 min read