Applying for a Business Development Role? You need to know what Consultative Selling is

Business Development role is one that is highly rewarding and that is why many graduates want to opt for it. However, there are certain apprehensions associated with this role. In many Asian countries it basically refers to a position that of a Marketing Manager or a Marketing Associate and very often is separate from Sales. However, in most of the EU nations including UK, it depicts a sales role; developing the business through increased sales. Therefore, it is imperative to know what Consultative Selling (CS) is since a Business Development Manager (BDM) will require to adopt a CS approach throughout his BDM career. From my three years of experience, I present below a comprehensive overview of CS.

Consultative Selling is all about eliminating the customer’s problems through proper perception of his requirement. A CS will require three basic things.

Thorough Product Knowledge: The BDM must have a thorough knowledge of the product or the service his company is offering. He must know all the attributes of the product/service, how the product works and some technical knowhow (for products only). It is equally important to know the limitations of the product/service. In addition to that he must also know the profit margin on the product and its break-even point should he needs to negotiate the price. He must also have a fair knowledge of the products/services that are offered by the competitors.

Knowledge of the Customer: The BDM must garner as much knowledge as possible about the customer. This may include the existing products/services the customer is using, the problems, if any, that the customer is facing with them and if possible his tacit requirement. This will help the BDM to create a profile of the customer and then approach him with a great value proposition.

Authority: A BDM must have good degree of authority to take decisions on behalf of the company such as negotiating a price when closing a deal. The BDM must be able to customise the offer on the spot for the customer if situation demands. Thorough product knowledge is therefore, necessary. The BDM must be confident when asking the management for such authority.

Equipped with the above three tools, a BDM can initiate the CS procedure. The following steps must be followed in order.

With the profile of the customer in hand, the BDM should look out for a convenient place and time to talk to the customer. It is a good practice to meet the customer once and if required fix an appointment at the convenience of the customer. On the day of the actual meeting, the BDM must present himself as a problem eliminator rather than a sales man.

The BDM then must talk about the problems that the customer is facing or he might be facing. The customer should be taken into confidence. This can be done by presenting feedback of previous customers. The BDM must explain everything about the product to the customer including its limitations. He must be able to explain how the product will benefit the customer and be prepared to answer the customer’s questions in a fair manner. If the customer is not satisfied with the product/service, the sale must not be pushed through as the product/service is not meeting the customer’s requirement. Whatever be the case attempt must be made to collect feedback.

If the sale is through, the BDM must be in constant touch with the customer post sale. A phone call once in a month to know the customer’s experience with the new product/service and whether he is having any trouble with it will give a sense of security and satisfaction to the customer. This must be a spontaneous initiative on the part of the BDM rather than a company protocol. If the customer is absolutely happy with the product/service, the BDM must make an attempt to ask for new leads along with feedback.

Above all, the BDM must stay honest.