Sales vs. BD vs. Marketing
Marketing & BD Manager, Marketing & BD Executive, Senior BD & Marketing Advisor, Content and Communications Manager, Sales & Relationship Development Manager, Pitch and Pursuits Manager, Senior Client Relationship Manager, Strategic Pitch Manager
I could go on……
Above are a selection of current vacancies posted on professional services recruitment websites. Somewhere in the previous 5-10 years, fueled , I think, by a lack of appetite by firm management to adequately resource the BD & Marketing functions, the distinct, but inextricably linked, skills possessed by marketing and business development professionals have become merged into hybrid generalist roles which cover simply too much ground for any one person.
The saga continues. In the past few years, firms that have woken up to sales professionals are now trying to respray their BD & Marketing team members into high performing sales folk, (usually with a woefully inadequate incentive scheme – that’s an edition for another day)!
The result? An overall decrease in specialist skill sets required to add value to a firm and a lack of clarity between the various teams as to where they fit in the sales pipeline.
Before Three Things embarks on a five-part series around the ultimate sales campaigns next week, we thought it would be useful to provide our thoughts on these three specialist skill sets and how they need to work harmoniously together in order to deliver revenue. Enjoy.
#1. Marketing
We’ve said it before and we’ll keep saying it. In sales, without leads, you’re dead. Filling the top of the sales funnel is a critical first step in any sales methodology. With only 2-8% of aware leads becoming engaged, you need A LOT of leads in the top of your funnel. Enter, the marketing team! Housing a selection of specialists from the creative genius who converts your sh^t description into a powerful infographic, or the SEO guru who, with a rewrite of your sales copy, can magically send you up the rankings, this team will develop a shop window that will attract your potential customers.
In our experience, marketeers work best when they are involved from the very outset of a sales campaign. To make the most of their unique skillset, careful thought is required on the key sales messages, buyer personas and target market(s) to allow these creative folk to build you a compelling platform. Creativity also takes time, so allow plenty for a premium shop window.
Superpowers include creativity, interpreting stream of consciousness thinking and turning around work within ridiculous timeframes.
#2. Business Development (BD)
A competent BD professional is worth their weight in gold to a salesperson. Why? Because they know EVERYTHING there is to know about a service line (practice group), sector or client. BD teams spend their days immersed in important information flows on industry trends, client pain points and competitor intelligence. They have responsibility for executing the Go To Market (GTM) strategy for their area/client and can provide valuable information and guidance on how sales campaigns will land. They are adept at spotting opportunities and building long-term relationships with key clients of the firm.
Superpowers include strategic planning, ego massaging and finding budget when there isn’t any.
#3. Sales
Unlike BD professionals, the sales team will likely have a wide portfolio of firmwide services & products under its remit. Their Total Addressable Market (TAR) will be different for each product or service but will likely be split between existing clients (those that the BD teams cannot service due to capacity) and new client acquisition. The sales team works on volume (developed by the marketing team) and conversion (enhanced by intelligence provided by the BD teams).
Superpowers include resilience, perseverance and optimism.
