If you’re a Business Development Representative (BDR), knowing the latest trends that help you connect with prospects means, well, everything. We’ve seen at least five trends ranging from tech stacks to AI data analytics and better Revops collaboration to personalized customer experiences.
Let’s break down the motivation behind these trends and why every business development representative should use them during this new selling season:
1. Advanced Integration of Technology and Tools
Let’s start with tech stack trends. Salesforce estimates that sales teams use an average of 10 tools to close a deal, including account management, forecasting, updating contacts, etc.
“However, more does not necessarily mean better,” said experts at Salesforce. “Clicking between applications can be time consuming, and 66% of sales reps say they’re overwhelmed by the number of tools.”
If this sounds like your process, take note: Salesforce research shows 9 out of 10 sales organizations (your competitors, by the way) have plans to consolidate tech stacks within the next year, so users can focus their time on selling and connecting with customers.
A solid grasp of the tech stack paired with machine learning can help BDRs understand the technical environment in which their products or services operate and identify trends and patterns in customer data to target the right prospects with personalized outreach strategies.
This knowledge enhances the credibility of BDRs during conversations with technical stakeholders and improves their ability to qualify leads more efficiently, ultimately driving higher conversion rates and sales success.
2. Enhanced Data-Driven Strategies
How can you describe the pace of today’s go-to-market space? Simply put, when a business development rep refers to a spreadsheet to track down customer data, it’s too late.
Real-time analytics provides BDRs with up-to-the-minute insights into customer behaviors and market trends, enabling them to make informed decisions and swiftly adapt their strategies.
- Lead scoring helps BDRs prioritize leads, focus on high-potential prospects, and improve conversion rates by targeting the right customers at the right time.
- Customer interaction insights show which communication methods and content resonate best with customers.
- Monitoring competitor activity, industry developments, and other general market trends helps BDRs stay informed about market shifts, identify new opportunities, and adjust their strategies to align with emerging trends and customer needs.
- Analyzing customer segments based on behavior, preferences, and buying patterns, offers detailed insights into different customer groups.
This agility is crucial for capitalizing on opportunities as they arise and maintaining a competitive edge.
Here’s an example:
A leading learning experience platform wanted to simplify its territory carving, modeling, and routing functions while also providing accurate data for its global sales team.
“When we used spreadsheets for territories, there was a time delay. When there was a change, we had to go make a change in the system. So that caused issues where the data was not accurate and accounts were still being held in a previous territory. It got messy,” explained Jonathan Malalis, Sr. Manager, Revenue Field Operations at Degreed.
Fullcast, equipped with an automated, AI-supported territory management platform, offers a map feature that makes it simple to carve territories and identify unassigned geos. BDRs can use the map to facilitate a real-time collaborative carving process with sales reps.
By leveraging these analytics, BDRs can enhance their ability to generate qualified leads, build stronger customer relationships, and ultimately drive sales growth.
3. Alignment Across Teams
As they say, “Teamwork makes the dream work.” When BDRs understand the value of collaborating across teams, deals close faster.
According to Saleseforce.org, “cross-functional alignment is sales leaders’ number one tactic for driving growth, with 81 percent of sales reps saying team selling helps them close.”
This collaboration enables BDRs to align their strategies with broader company objectives to ensure their outreach efforts are consistent with marketing and sales messaging and value propositions.
“If you have a unified directive across your team, you build stronger messaging, strategies, and professionalism that are visible to your potential customers,” said Megan Ross, Director of RevOps at Fullcast. “Everyone knows the goal and what role they play, which in turn cuts down on confusion and time spent trying to coordinate.”
4. Customer Experience Optimization
Understanding lifecycle management and the value of personalized engagement effectively nurtures prospects and converts them into loyal customers.
Lifecycle management guides potential customers through each stage of the buying journey, from awareness to consideration and ultimately to purchase and retention. By understanding this process, BDRs can deliver the right message at the right time and address specific needs at each stage.
The human, emotional advantage of personalized engagement is crucial for building meaningful relationships with prospects because it proves that brands “get you.” And since they understand what you want, customers will stick around.
“Seventy-three percent of B2B revenues comes from existing customers in the form of renewals, cross-sell, and upsell, and the remaining 27% comes from new business,” said Ross Graber, VP and Principal Analyst at Forrester. “While growth from net-new customers isn’t insignificant, the bulk of B2B revenues come from an existing customer base.”
By leveraging data and insights to tailor interactions, BDRs can create a more relevant and impactful experience for each prospect. This personalized approach increases the likelihood of conversion and fosters long-term customer loyalty.
5. Focus on Scalability and Efficiency
Sales reps spend only 28 percent of their time actively selling. This is according to Salesforce’s State of Sales Report. Instead, they spend their time doing administrative tasks.
Process automation allows BDRs to streamline repetitive and time-consuming tasks such as lead scoring, data entry, and follow-up emails. Automating these tasks frees up valuable time for BDRs to focus on higher-value activities, like building relationships and engaging with prospects, and also ensures that these tasks are completed accurately and consistently.
With growth comes the need to effectively manage that growth, so understanding scalable processes is equally important to manage more leads without compromising outreach efforts.
These trends reinforce the trinity for business development success: efficiency, precision, and enhanced customer engagement.
- Tech stacks automate routine tasks and focus on building meaningful relationships.
- AI data analytics provide deeper insights into customer behavior and market dynamics.
- RevOps collaboration fosters a seamless alignment between sales, marketing, and customer success teams.
- Personalized customer experiences, made possible by advanced data analytics and streamlined communication tools, help build trust and loyalty.
By embracing these trends, BDRs can meet the demands of the new selling season and position themselves as invaluable assets in driving sustained revenue growth and maintaining a competitive advantage in the marketplace.
