Business Development and Customer Experience
What is Business Development?
89% of customers leave after negative CX.
77% of customers refer after positive CX.
The objective of Business Development is to create happy customers spreading positive word of mouth.
CX is the result of all Business Development Integration Activities but,…
some corporations only allow business developers to prospect.
89% of those I polled last week agree Business Developers should stay involved after the Prospect becomes a Customer.
Here is why:
1. Expectations:
Business developers are often the first person your prospect engages when they become aware of your product.
Business developers nurture those expectations until the prospect declares intent to buy a product.
Sales collaborates with BD to ensure the proposal meets or exceeds the prospect's expectations and converts the prospect into a customer.
Then what?
What happens if your team does not meet those expectations in the Customer Success phase?
I've seen some corporations win a deal and fail miserably because the customer success team never even read the proposal.
Business developers set the expectations. Who better to guide your customer success team?...Especially, during customer onboarding.
2. Pain Points:
Business developers know the pain points that compelled the prospect to become your customer.
Business developers also see pain points other prospects and customers have within their community.
Pain points are a blessing or a curse.
Failure to respond to customer pain points can curse you with high customer churn rate.
Sometimes customers feel unheard by the delivery team.
Business developers are customer advocates serving as their champion when customers feel unheard or the corporation puts profits over performance.
3. Opportunity:
When the contract is recompeted for renewal, I see a lot of corporations finally allow business developers back into the relationship at the 11th hour...
...only to find the customer success team failed to convert pain points into new opportunities.
Upset or disengaged customers destroy growth prospects with negative word of mouth.
Positive word of mouth Referrals are the most powerful growth engine, up to 50X more than other growth tactics.
Corporations are destroyed when they lose more customers than they win.
You can't sell your way out of poor CX.
Tony Gray, BDP
P.S. learn more in the “Business Development Body of Knowledge”
Get your copy on Amazon today!
Boost your BD career with the Business Development Professional (BDP) certification from the Global Business Development Association (GBDA).
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