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Business Development Managers (BDM) play a crucial role in the success of an organisation as they are responsible for identifying rising business opportunities whilst building long-term relationships with prospects.
In addition, their evaluation of the business’ current performance and advisory methods to help it reach its full potential mean they are more valuable than often they receive credit for.
With that in mind, Mortgage Professional Australia will sit down with a business development manager each week to provide readers with a greater understanding of what a BDM does along with distributing important tips to those in the industry to aid their long-term success.
The first BDM Mortgage Professional Australia spoke with was Capify’s Dino Pacella, an experienced professional who has provided BDMs both experienced and new an insight into the industry and its intricacies.
Doing What You Say Whilst Remaining Proactive
Now actually doing what you say you will do seems like common sense but how common is this sense?
How many times has someone told you that they will call you tomorrow and it never happens or they say they will email you later that night but it arrives two days later. Now imagine a broker trying to reach you who may be chasing information that you said you’d deliver to them within a few hours. What impact does this have on the relationship when you don’t deliver?
Yes we are in the business of selling finance, but we are more so in the business of relationship building and communication.
The great Business Development Managers will always over promise and under deliver, this means that if you say to a broker that you will have an update to them by 5pm Friday but instead you call them before the promised time, always stay ahead of your promises and remain proactive.
Learn to understand where your fear factor is. What I mean by this is knowing how to get comfortable with delivering news that isn’t positive to a broker. All BDMs at some stage or another have had to deliver bad news to one of our broker partners (declined deal, commission clawback, etc…). The doing what you say you will comes into play on this one with upskilling your ability to produce negative news in a way that never damages your relationship with your broker. This takes practice so learn from each one and promise yourself that you’ll get coaching on this aspect of being a great BDM. Brokers never want bad news but at least you can deliver it confidently along with reasons as to what has happened, the why.
You need to live by the term, "My word is my bond" and ensure that this becomes your reputation, your brand, leave the excuses behind!
When the trust of a broker is gone it's extremely difficult to get back, if not near impossible.
Never forget that people will always remember how you make them feel but not necessarily remember everything you tell them.
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