All Successful BDM's Do These 5 Things!

In the world of Rent Rolls, the success of your Business Development Manager (BDM) will make or break your company’s growth trajectory. But what differentiates a successful BDM from the rest?

It’s not just about hard work. All the hard work in the world will go down the drain if your BDM is taking the wrong action.

Here are the five essential skills that a top BDM works on every day to successfully grow a Rent Roll:

01

Develop New Leads

Innovation in lead development is crucial. A proficient BDM employs a variety of
techniques to uncover new leads, including leveraging online platforms like LinkedIn, engaging in networking events and utilising targeted advertising campaigns.

They must also know how to draw out business from the connections and relationships you already have, including current landlords, tenants, internal teams and external
contractors.

02

Deliver a Proven Track Record of Converting Leads

Successful BDMs stand out not just by generating leads, but by converting them into paying clients. This skill goes beyond mere prospecting; it requires an in-depth understanding of your company’s service, excellent communication skills and the tenacity to follow through. To successfully build a Rent Roll in this way, your BDM must have incredible marketing, persuasion and negotiation skills to see deals through to their conclusion.

03

Possess Strong Negotiation Skills

Negotiation is an art and successful BDMs are masterful artists. They understand that the essence of negotiation lies in preparation, opening, bargaining and closure, with a keen focus on creating value for both the client and your company. The capability to anticipate and overcome objections, coupled with persuasive techniques, marks a BDM who can effectively close deals.

04

Meet KPIs

Key Performance Indicators (KPIs) are the milestones that gauge a BDM’s effectiveness. Successful BDMs not only meet but often surpass these targets, contributing significantly to your company’s bottom line. Whether it’s about achieving new managements per month or increasing your company’s asset value, high-performing BDMs understand that their targets are a reflection of their professional achievements and know how to use these benchmarks to motivate their performance and track where they need to improve.

05

Strong Data and Information Analysis

Data drives decisions and a BDM with strong analytical skills can identify patterns and opportunities that others might miss. This proficiency allows for the development of a strategic business plan that aligns with your company objectives because an analytical BDM can transform insights into action, crafting data-driven strategies for business development.

A BDM’s role is fast-paced and demanding, requiring a combination of resilience, excellent interpersonal skills and a results-driven mindset.

As they often play a critical role in achieving organic growth, it’s vital to ensure your BDM embodies these five essential skills and applies them every day. If you’ve been wondering whether your BDM is up to the task, it’s time to evaluate their performance against these essential skills. The success of your Rent Roll could very well depend on it.

Check out our world-class BDM Performance Program today