The Most Vital KPI to Determine your New Business Success

The Most Vital KPI to Determine your New Business Success

Which KPI Most Leads to New Business Success?

Rob Brown here from the BD Academy with another business development bullet. These are bite-size quick videos that will help you as an accountant or a lawyer in a large firm to generate more business and create more client opportunities.

Today we’re looking at a blog from Sales Force, who are a big gorilla in the sales software. The blog mentions 15 sales statistics that prove that a sale is changing. Let’s focus on one key trend.

The name of the game is the customer experience. As an accountant or lawyer in large firm, you’ve known this for a while, but here’s the research to show it.

If you want one key performance indicator (KPI) to indicate how well you’re going to do in bringing in new business, it’s here: “To win at selling now means helping your customers win too.”

So you win, they win. It means fostering a discussion that uncovers their needs and proposing solutions that best fit them. Now, this is not new to you, but this is putting it in very black and white terms.

To deliver (on sales targets or growth goals), you’ve got to incorporate more analytics and intelligent technology.

You have to replace the ‘worn out pictures’ that you used last year and provide tailored customer or client solutions to tech-empowered info-savvy customers. They want rich, fast knowledge and a personal experience.

Here is the original video:

 

The Need for a Personalised Experience

Do you give people a personalised experience? When it comes to dealing with these customers and clients, there are two things you’ve got to do.

  1. Be really personalised in the way you sell
  2. Be really personalised in the way you deliver.

You’ve got to lead in both of these engagements. The blog say: “In today’s connected marketplace, informed customers have the power to dictate which businesses lead and which fall behind.“

So sales teams and I know you’re not seeing yourself as a sales person as an accountant or a lawyer, but we have got this business development angle to our role

You are expected to bring in work. So you’ve got to see yourself as a sales person in some respect.

This is the key thing that big sales people and successful sales people are working on. If you’re a BD director or you lead a team to generate more business, you’ve got to be mindful of this.

It says: “51% of sales leaders, BD directors, sales directors, marketing people, whatever you want to call yourself, are focused on increasing client retention through deeper relationships. “

Lead the Sales Process AND the Client Nurturing with personalized Experiences

This blog talks about deeper relationships. Professional business winners are as much focused on deeper relationships in the retention side of it (looking after clients) as they are the sales prospecting element – actually getting the clients. “56% are focused on growing leads and new customers or clients.”

Top sales teams or top accountants, lawyers, business developers, rain makers are going to be as much concerned about creating long-lasting customers, clients, through retention as giving memorable experiences and then making the sale.“

High performing sales teams and BD units – what is it they do that others don’t do? It’s about focusing and personalising customer interactions.

How to Deliver More Personal Experiences

Competition is massive out there. You’ve got to be more personalised in the following way:

  • The way you prospect
  • The way you research
  • The way you reach out to prospects
  • The way you start conversations

You’ve got to sound a little bit different, a little bit better, and you’ve got to create an experience. Customer or client experience is now the number one sales benchmark.

So if you can create a better experience, that is a great key performance indicator, KPI, of whether or not you will be successful in bringing in more business this year.

Your key action point from this BD bullet is to don’t sell how everyone else does. Don’t sell out of the box. Don’t sell because you need to make the sale.

Make it a personal experience. If you do that, you’re well ahead of the competition.

Have a great BD day.

____________________________

*** These BD Bullets are bite-sized quick videos for accountants and lawyers to help you win a lot more business and bring in more clients. Each one is posted on LinkedIn and also in this BD Academy Blog. For a full index of all BD Bullets, contact BD Academy Founder Rob Brown here.***

 

About Podcast Host & Author, Rob Brown

Rob Brown is the founder and CEO of the successful BD ACADEMY, which creates armies of confident, effective work winners in large accounting firms. He is also host of the popular Accounting Influencers podcast, featuring interviews with top accounting leaders and global influencers about what makes good firms great and good accountants world class.

According to LinkedIn, Rob is the world's most recommended networking expert. He is also the bestselling author of Build Your Reputation (published by the world's largest business publishers, Wiley), a featured TEDx speaker and is a popular keynote speaker and MC at conferences and business events worldwide.

@TheRobBrown