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Develop Your Strategy | The Knowland Group

Part three in a five-part series - Business Development Defined

 

By Michael McKean, The Knowland Group, August 23, 2010

Once you know who your potential clients are, then you can begin to develop strategies on how best to attack that universe. Plot your course wisely. Decide things like:

  • Which pieces of business you want to go after
  • Which should be targeted first
  • What your sales pitch is for each
  • What your pricing strategy will be
Before you can implement your sales campaigns, you must study your leads to determine which are the most valuable or viable and how best to approach and interest them in your property. The quickest and easiest way to go about this is with an advanced lead generation tool that includes detailed profiles and booking histories of each group.  With this crucial information, sales pitches become easy. 

Before executing a strategy, a hotel director of sales (DOS) must decide on the logistics of the sales plan:

  • Who will do what? 
  • Will some people contact different types of leads? 
  • Do you assign your best salesperson to contact the most profitable businesses? 
  • How can you best leverage your junior people? 
Ensuring your sales plan is well thought out will help ensure that it is well executed. Using true SFA and meetings management tools like Knowland’s Target Net to develop the entire sales plan from start to finish will yield maximum productivity. Campaigns can be automatically configured to auto-assign leads to selected managers based on easily defined criteria. Designate a starting and ending date as well as expected response and revenue so your sales team has quantified goals to drive their efforts. By creating a sound and detailed strategy, you are building the foundation for successful business development.

Look for the next in this five-part series on business development, “Step Three: Execute.” In the meantime, learn more by contacting the Knowland Group at 410.860.2270, online at www.KnowlandGroup.com, or on Twitter @KnowlandGroup.

About The Knowland Group 
The Knowland Group is a proven innovator, developing intuitive marketing products and services that streamline and support event and group sales in the hospitality industry. The company, headquartered in McLean, VA, serves over 2,000 hotel clients and 17,000 users globally. Recently featured on the Inc. Fast 500 List, The Knowland Group is the second fastest growing company in the travel industry. For more information, visit www.KnowlandGroup.com, call 410-860-2270 or follow us on Twitter @KnowlandGroup. 

About the Author 
Michael K. McKean is the CEO and Director of New Product Development for The Knowland Group. He is a hotel business development and group sales expert and regular columnist for Hotel Business Review and Hotel News Now. Contact him at mmckean@knowlandgroup.com or on Twitter @MikeAtKnowland.
 

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Contact: 

Megan Tate
Communications Manager
The Knowland Group
(703) 286-0852
mtate@KnowlandGroup.com
 

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Also See: Determine Your Universe of Potential Business | The Knowland Group; Part two in a five-part series - Business Development Defined - / July 2010
Boost Your Group Sales with Professional Business Development | The Knowland Group / Part one in a five-part series - Business Development Defined - / July 2010
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