Evolution Of Business Development

The evolution of selling has changed considerably from the days when products were presented to clients with few alternatives and little attention being paid to whether they were in the clients’ best interests.

Today’s clients are greatly more sophisticated with a good appreciation of their needs and the options available to them. The dramatic increase in technology and communications means that today we deal with a much more informed client base.

In addition, the increase in competition from traditional competitors plus new entrants to the market place means that we find ourselves with a more challenging market in which to work than in the past.

To be successful in today’s market place we have to be much more than a salesperson, we have to develop the skills required to provide an all-encompassing service to our clients.

Clients want someone with whom they can develop a relationship. They want to deal with someone who understands them and their business and receive value-added contributions based on this understanding.

In order to do this the Client Account Manager needs to develop a multi-faceted skill and knowledge set in order to develop trust, confidence and demonstrate the ability to deliver against clients needs. Having successfully achieved this the clients will be willing to accept the Client Account Managers guidance and advice on investment decisions and problem solving.

Client Account Managers will be required to provide the focal point for the relationship, managing and co-ordinating the delivery of products and services into the client portfolio. The objective being to develop long term mutually rewarding relationships between the clients and organisation.

In order to successfully implement a ‘Client Account Management’ approach the strategy needs to be embraced and supported by all concerned. This includes Client Account Managers, Product Teams and Settlements.

This will ensure that the ‘Client Account Management’ culture becomes embedded in the work ethic of the organisation and thereby providing a high quality seamless co-ordinated service to the clients.

To remain successful in today’s dynamic market place organisations have to constantly assess and evaluate what changes need to be made to remain competitive and ensure they are giving the clients what they want.

First Creation Consulting can help design and implement your business development strategy that will bring about the changes required to constantly increase the level and quality of service offered to the clients to ensure the long-term profitability.