New business development is the act of developing a agent in the act of sales. Sales, which can be done individually or as part of a team, is where a person sells a product or service to a client. It is usually thought that selling is the same as marketing but there is a distinct difference - marketing exists to endorse a item by making it attractive to a potential customer and, through this, may passively produce a sale. On the other hand, a sales agent actively communicates with a potential client, demonstrating directly how their product or service can assist the client by providing them specific data. The best sales person is someone who works together with their client and works to answer the client’s needs and goals with the item or service to be sold.

Sales is an important part of modern business models. Not only does the sales agent sell a company item or service, they also work to produce new business opportunities and generate clients for their company, thereby supporting and growing their business’ client base and industry standing. Sales is often the public face of a business so it paramount that proper sales training is given to the sales agent so that they can excel in their selling role but also know how to be the best believer possible for the product and the company.

There is a plethora of methods a company can use to connect with their buyer. Direct sales - where the company deals directly with their buyer - is probably the most familiar. The most familiar direct selling methods are door-to-door selling and telemarketing; in both cases the company directly connects with the client at home or at their place of business to advise them about the product. Another way of direct selling is ‘consultative selling’ whereby the company deals directly with the client but initially starts by asking the buyer about what products or services they want and developing solutions in consultation with the client. Companies also often sell products through retailers - so called ‘middle men’ - and through mail order, while the rise of the internet has given businesses a new medium in which to deal with prospective clients. As can be seen, there is a huge variety in the way businesses contact, connect and potentially sell to a client, which has increased the necessity of sales development.

New business development focuses on the assortment of techniques a sales agent can use when directly dealing with the buyer, so important in these days of direct selling. Although there are a assortment of particular methodologies tailored for different varieties of selling, the main philosophy behind outstanding sales practice is five-fold: analyze a customer’s needs, offer solutions to the client, discuss the advantages of the item, overcome any questions the client may have and close the sale. This philosophy can sometimes be shortened to a three-part methodology: find the client, present to the client and close the sale.

New business development courses are extensively available with many training academies and specialist businesses offering courses that you can take in person or via correspondence or the internet. Many large companies have also developed their own in-house sales development programs. There are also a plethora of books available on the topic.

Competent sales development will always stress the need to ask clients questions in order to better give them solutions, will always stress the importance of knowing your merchandise and will include motivational material, as selling is a high-pressure profession that not only involves a lot of self-motivation but also deals with a lot of rejection as well.

Incentive programs, what they’re for and how to use them are also included in a lot of sales development. These ’sales incentive programs’ or SIP’s, are a tool used to focus a sales agent and sets out specific goals for achievement, which aims to concentrate selling activity.

Sales development will show you self-motivation, focus and great communication abilities and, as such, would stand any person in good stead for any leadership role outside of sales, as well as within.

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This entry was posted on Wednesday, October 1st, 2008 at 11:21 am and is filed under Business Management, Communication Tools. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.