Business Development :- Process {Module 1} CH 7.

Summary of Business Development Process (Module 1, Chapter 7)

Key Frameworks and Process Steps

General Business Process Mapping

• Define the initiation phase (idea inception) and end phase (execution completion).
• Clearly outline the scope of the idea and map the journey from start to finish.
• Emphasizes documenting the process on “pen and paper” for clarity and effective execution.

Typical Service-Based Company Process Cycle

1. Lead Generation: Acquire potential prospects daily to increase platform visitors.
2. Conversion: Convert leads into paying customers.
3. Operations: Handle customer queries, issues, and support via an operations team.

Lead Generation Process (Organic Focus)

• Target audience example: college students for a headphone product.
• Identify a Single Point of Contact (SPOC) in each college who is an influential figure.
• Expand the network by onboarding Class Representatives (CRs) to promote the product.
• Onboard SPOCs and CRs by assigning tasks with associated benefits or incentives.
• Leverage this network to generate potential leads organically.

Conversion Process

• Utilize the pool of generated leads.
• Pitch the product by highlighting its Unique Selling Propositions (USPs).
• Combine pitching with content marketing skills to educate and persuade leads.
• Goal: convert leads into paying customers.

Actionable Recommendations

• Always start process creation by clearly defining the desired outcome.
• Break down broad goals (such as lead generation and conversion) into detailed, manageable steps.
• Use influencers and micro-influencers within target segments to organically generate leads.
• Provide incentives to intermediaries (like SPOCs and CRs) to motivate lead generation.
• Integrate content marketing with sales pitching to improve conversion rates.

Metrics and KPIs (Implied/Recommended)

• Number of potential leads generated daily.
• Lead conversion rate (ratio of leads converted to paying customers).
• Engagement and effectiveness of SPOCs and CRs (measured by leads generated per SPOC/CR).
• Customer feedback and resolution time handled by the operations team (for post-sale support).

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Presenters/Sources

• Unnamed presenter delivering a business development training module focused on process creation and management in service-based companies.