Enhance your Research and Development workflow with sales development automation for Research and Development
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Sales Development Automation for Research and Development
Sales Development Automation for Research and Development
With airSlate SignNow's intuitive platform, businesses can streamline their document workflows and increase efficiency. Experience the benefits of sales development automation for Research and Development with airSlate SignNow today!
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FAQs online signature
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What is SDR workflow?
The SDR process and best practices is about managing a large volume of prospective leads effectively and accurately, so as to build the largest, highest quality sales pipeline with the resources you have.
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What is the role of SDR in sales?
A sales development representative (SDR) is an inside sales representative who focuses on outreach, prospecting, and lead qualification. SDRs don't focus on closing business, but on connecting with as many leads as possible and determining if they're good customer fits. SDRs move leads through the sales pipeline.
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What is the SDR process in sales?
SDRs call and email prospects, take them through the early stages of the sales pipeline, and get them ready to talk with a closer. The Key Performance Indicator (KPI) is based on the number of qualified opportunities, or sales qualified leads (SQL) they garner every month.
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What is research and development in sales?
R&D involves researching your market and your customer needs and developing new and improved products and services to fit these needs. Businesses that have an R&D strategy have a greater chance of success than businesses that don't.
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How do you create an SDR process?
7 Steps to Building an SDR Team that Drives Revenue Develop an onboarding plan. Hire the best SDRs. Build a compensation plan that drives performance and retention. Define and standardize processes. Provide the best sales productivity tools. Track the right metrics to identify top performers. Empower SDRs with content.
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What is the difference between a sales rep and a SDR?
Sales Development Representatives (SDRs) or Business Development Representatives (BDRs) are inside sales representatives who focus solely on sales prospecting. Unlike sales executives (quota-carrying salespeople) who close new deals, SDRs reach out to new leads, qualify them and push them further down the sales funnel.
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What is sales automation?
Sales automation is software functionality that automates the repetitive tasks that are key to building simple and profitable customer journeys. It's often included as a feature of CRM software , lead generation software , and email marketing software.
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Will AI replace sales development representative?
Let's Wrap It Up! In B2B sales, AI's role is not to replace but to enhance SDR and BDR positions by automating repetitive tasks, allowing for a focus on high-value activities.
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business development is one of the most underrated strategies when it comes to growing your business so in this video i'm gonna break down three of some of the best business development strategies the top companies are using i'm talking about spotify netflix apple oracle i'm gonna break it down step by step and how each of these business development strategies work and i'm going to show you exactly how you can apply these strategies into your business whether you're at a small medium-sized business or even if you're working at a large corporation and you want to make sure you watch this video until the end because if you don't you're going to waste months of your time trying all these different strategies that don't really work so i'm just going to give you the shortcut and show you what does work so you can get results right away what's going on everybody my name is patrick dang if you are excited for this video make sure to give it a like subscribe and turn on notifications and let's dive in so the first thing we got to do is we got to define exactly what business development is and the definition that we're going to use is the process of developing growth opportunities and relationships with other organizations and we want to make sure that these relationships are long-term relationships that are a win-win on both sides so let's go ahead and give you the first business development strategy and that's going to be product business development so product business development is basically when two or more companies work together to create a better product for their customers and so to give you a better idea of what this means let's go ahead and give you a real example so the first example we're going to use when it comes to product business development is this company called music match now music match if you don't know who they are right they are a back-end software that a lot of big companies use to put their lyrics to put song lyrics onto their app for example some of the customers they have is spotify right so if you use spotify and you notice that when you're listening to a song you might see the artist lyrics and some explanation on what those lyrics mean music match is actually the company behind those lyrics so spotify uh basically did a business development deal where the music match was able to get the lyrics of these songs and put them into spotify so as you can see spotify is a customer instagram is a customer amazon apple music google uh shazam so all these companies that have a music streaming service they don't really want to build their own software when it comes to you know finding all these lyrics categorizing them and putting the meaning behind the lyrics because it takes a lot of energy to do that not only that but you have to get licensing agreements with all the big record labels to legally use these lyrics in their apps so instead of these big companies like apple spotify and things like that instead of them building this out themselves which is gonna really take millions of dollars to do they can instead work with a company like music match and you know just take their product and develop it into their app and when it comes to you know what exactly these features are like i said before you could display the lyrics of a song right so this is a lady gaga song and you can see all the lyrics um synchronized lyrics so it kind of plays the lyrics as the song continues on so you're not just reading it like a script you're you know seeing it real time uh you could search by lyrics right so instead of typing in the song name sometimes you remember the melody you want to type that in and boom it's going to show up in the app translated lyrics right so different languages lyric videos and also when it comes to the royalty and administration side meaning you know paying the record labels for using these lyrics they got you covered so why would this be product business development versus just regular sales well it's not as if like an apple or spotify is just gonna go to the music match website and be like okay i'm gonna buy this boom done right it's a lot more complex than that because you know you have to talk about like you know how much are you gonna use this service how many lyrics are you pulling every single month uh what's the subscription deal going to be like is it gonna be a multi-year contract and if it is is it uh you know are they gonna get a discount so this is going to be all these complications when it comes to putting this deal together but not only that once they even buy the product they have to integrate it from a software perspective into their app right it's not like you just buy it and you just plug it in it's like you really have to integrate it into the app and it takes a lot of engineering effort to do that so that's why it's business development a product business development specifically because two entities are working together to create a better product for the consumer so spotify itself is a product and by using the resources of music match and what they have they're going to integrate that into spotify thus creating a better product for the end consumer so how does this relate to you well if you have a product or software that can integrate very deeply with another person's product right what you can do is you can say hey you know i do this certain thing this is how i bring value let me try instead of building all these things yourself which i have already invested a lot of time and resource and doing i'm just going to work with you and we're going to integrate my product into your product so that your customers are more happy right and that way so instead of you having to find all these customers to use your product you can find a couple key partnerships right for example if you build a software and you integrate it with apple then suddenly your app or your software or product is used by millions of apple users just right off the bat so that's how you can leverage bigger companies to get your small product more exposure and get more people to use it right instead of reaching out to thousands of small companies you might reach out to maybe 100 big companies and if you get a couple deals then it completely changes your business and if you're a large company you can work with smaller companies and instead of building your own products yourself and developing uh putting in resources to do that you can just work with another person that already created something and integrate it into your own product so it's a win-win situation on both sides all right so now we're gonna move into the next type of business development strategy and that's going to be distribution business development and the main example we're going to have is netflix now when it comes to distribution business development all that really means is that you're taking some kind of product or service right and you're distributing it meaning you're the one that is pushing it out to your customers okay so when it comes to netflix i remember back in the day when i first heard of netflix i saw an advertisement on tv promoting netflix and at the time streaming wasn't really a thing so what netflix did was every month you would pay a certain subscription and you would borrow three dvds at a time right and you can you know exchange it whenever you want so in the early days of netflix it's kind of the distribution deal right because you have all these dvds all these companies that have dvds and they want to get it into the hands of more customers and netflix is saying okay we're going to charge a subscription and we are going to distribute your dvds to our customers and obviously we're going to pay you to use those dvds but we're going to make some money by having the service for other people making it easy for them to rent dvds and now things have changed where instead of renting dvds it's all about streaming so they can take a popular movie right that everybody wants to watch and put it on their platform and people will sign up for netflix just to watch that show so if you are let's say a tv show or production company or you have a movie you know you could put your movie or tv show on netflix you can put it on hulu you can put it on amazon you can put it on all the different networks and you can make money from all these different companies so in a sense you're doing distribution business development because you're having these other companies distribute your product now there's also exclusive distribution where netflix might pay you a large sum of money and they might say hey we like your stuff but we don't want you to put it anywhere else because we want people to sign up for netflix and because you have so many fans they're going to sign up for netflix because they want to watch your stuff and it's only available on netflix so in that case they're going to pay you a lot more money for that exclusive deal so some examples might be dave chappelle right dave chappelle famous comedian you know went on hiatus for like 10 years and then he wanted to come back and do stand up so obviously if he does a netflix deal where his content is only available on netflix a lot of people are going to sign up just to watch that uh stand-up comedy because it's nowhere else and they're a big fan of de chapelle and he has been performing for like 10 years so that's an example of an exclusive business development deal and another quick example that i just remembered is if you notice if you watch joe rogan the joe rogan podcast uh you know it's on all different platforms right like youtube spotify uh and all the different podcast platforms and recently he just signed an exclusive deal with spotify right to have the uh podcast exclusively on spotify in the future so obviously you know he has a huge fan base everybody wants to listen to his podcast regularly so if the only option to listen to joe rogan is on spotify then all these people are going to flood spotify and obviously joe rogan is going to get a pretty good deal because it's an exclusive contract so how does this apply to you well if you have some kind of product service or show right and you're thinking that you know you have a fan base or you know that people want it and you just need to put it on the right platform whether it's an amazon spotify or you know any other niche platform then you can do an exclusive deal have them pay you money to exclusively put your stuff over there also if you don't want to do an exclusive deal you can put yourself everywhere so these distribution companies will distribute your product or service to other people on your behalf and take a cut and you make money because they're doing all the heavy lifting and pushing your product or service to people you would have not otherwise reached all right so now the third type of business development that we're going to talk about is going to be channel distribution so oracle is the company that i used to work at that's where i started my sales job first sales job in tech what they did was i was an inside sales rep meaning i worked at oracle right i was an employee at oracle but what i learned is that there are other people who are selling oracle products but weren't technically employees of oracle they were something like contractors or they had to deal with oracle so how it will work is let's say you're a consultant let's say an it tech consultant right and you have your own clients and you know you do work for them they pay you money okay now there's going to be a point where your clients might need a certain product or service and you are in the position to make a recommendation on what they should buy so if your customer is wants a certain software right and you know that oracle sells that software and there's other people you can choose but you like oracle you can say hey customer you know i'm not an employee of oracle but i can sell you oracle software and it's the one i recommend so if that consultant sells an oracle software to their client then they're going to take a commission from that sale and why oracle wins is that you know you they have all these great consultants and i.t people you know basically being brand ambassadors for their company and recommending their products and services so oracle makes money because they didn't really have to do any work to get the sale the consultant makes money because they're going to recommend something anyway so they might as well make a commission from the one they like and they want the one they recommend and so it's a win-win situation on both sides so how does this apply to you well if you're a software company or you're selling some kind of product or service you don't always have to be the one actively doing the selling you can work with other people who will resell your product right and this is a really powerful strategy because if you can tap into you know it's channel partnerships right so if you can tap into people that already have customers and their customers are already going to buy if you build the relationships with these channel partners when the channel partners customers want to buy something you are going to be on the top of mind because you already built this relationship and you're willing to give a healthy commission to the people that resell your product and if you are like let's say a consultant or you're in the position where you can resell other people's products instead of building a product yourself you can go to all the top companies and be like hey i love your company i love what you do i recommend your product already for free but um let's see if we can work together where you know if someone wants to buy a certain product or service i can recommend you and stand 100 behind it but i would like a commission for making that recommendation and getting you the sale so it works on both end if you're a product creator find these channel partnerships to sell your stuff if you are in the position where you are the seller find the companies that you can help promote and you know it's a win-win situation on both sides because at the end of the day it's all about what is best for the customer right so if you're making the right recommendation and you believe in the product or service that you're selling and creating then a customer always wins right because they're getting the value that they pay for so that is pretty much how channel partnerships are going to work and it's not just exclusive to consulting or tech literally anything you can have someone sell your product or service for you so that said those are gonna be the three different business development strategies you can use to grow your business let me know in the comments which one you found most valuable and how you're going to apply it to your business and if you want to see more videos like this make sure to give this video a like subscribe and turn on notifications because i'm going to be releasing new videos every single week and if you want a free advanced sales training i actually created a free training on how to sell anything to anyone make sure to click the link in the description to get access to that free in-depth training and if you want to learn more about business development and sales i actually have another video for you to watch which is the difference between sales and business development i know some of you guys might have confusion on what each of those two are so i created a video just to make that clear make sure you check out this video somewhere on the screen to check it out so with that said my name is patrick dang thank you for watching and i'm gonna see you guys in the next one
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