Nurture Intent Cycles of Engagement (NICE)

What is Business Development?

I call it the Sucker Cycle.
It’s when you give value to prospects and get nothing in return.

Business Developers are not Salespeople.

Our mission isn’t to convert anyone into a customer.

Our mission is to find and nurture high quality prospects.

So, how do you avoid the trap of giving value and going nowhere?

Prospects must reciprocate.

3-Step NICE process for successfully nurturing prospects.

Based on behavioral science Fogg Behavior Model.

3 Value Exchanges to transfer energy and build trust.

1.       First Value Exchange

a. Corporate Content Gear:

Your corporation produces content with Purpose, Empathy, and Truth.

b. Prospect Permission Pinion:

Prospect grants permission to provide content.
- Consensual "Up-Front Contract"
- Confirms prospect is Problem Aware
- Confirms your Purpose is Compliant with prospect's Extrinsic needs

c. Prospecting Team Gear

CAUTION:
Exchange of Energy between you and prospect can't be one-sided.
You must also receive valuable information from them.
Value exchanges share prospect’s pain points and Cost of Problems (COP).
Your solution must decrease or eliminate the prospect’s COP.

Next Best Actions triggered by Prospect’s signals

· Behavior
· Engagement (Micro-Conversions)
· Emotions
· Events

Fogg Behavior Model (FBM):

Prospect behavior changes when their intent (Motivation), ability to make the change (Ability), and triggers (Prompt) happen at once.

· Sparks: Low Intent and High Ability
Increase prospect motivation by highlighting prospect’s pain points.

· Facilitator: High Intent and Low Ability
Increase prospect ability to make a purchase by providing info about solution.

· Signal: High Intent and High Ability
Calls To Action (CTA) invite prospect into the Second Value Exchange.

2.       Second Value Exchange

Starts when Prospect grants permission for Second Value Exchange.

Confirms your solution aligns with prospect’s Intrinsic needs.

Enables prospect to determine your solution is Compelling.

3.       Third Value Exchange

Enables prospect to determine your solution is Credible.

Prospect has sufficient trust to Declare Intent and enter Conversion Phase of customer journey where Salespeople engage.

You should be confident you can submit a Credible, Compliant, and Compelling proposal.

IMPORTANT:

Prospect Permission Pinions are “mini-contracts” (also called Tie-Downs).

They're important guideposts in value exchange between you and prospect.

Without mini contracts, you risk entering “Sucker Cycle” constantly delivering value without reciprocity from the prospect.

Tony Gray, BDP
Author of the Business Development Body of Knowledge

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