As a business relationship manager (BRM), you are responsible for building and maintaining trust, collaboration, and value between your organization and its stakeholders. But how can you demonstrate your impact and contribution to the strategic goals and outcomes of your organization? Here are some tips to help you show your value as a BRM.
One of the key roles of a BRM is to align the capabilities and resources of the organization with the needs and expectations of the stakeholders. This means that you should understand the vision, mission, and objectives of your organization, as well as the challenges, opportunities, and priorities of your stakeholders. You should also communicate and collaborate with them to identify and deliver solutions that create value and benefit both parties. By aligning your activities with the business strategy, you can show that you are contributing to the achievement of the organizational goals and outcomes.
Well, Aligning activities with the business strategy is pivotal. As a Business Relationship Manager, it's about grasping the organization's vision and the needs of stakeholders. It involves understanding challenges, opportunities, and priorities. Collaborating closely can identify and implement solutions that create mutual value. By doing so, demonstrate a role in advancing organizational goals, fostering a symbiotic relationship where success is a shared journey. In essence, being a BRM isn't just a role; it's a commitment to orchestrating harmony between organizational aspirations and stakeholder needs.
Another important role of a BRM is to measure and communicate the value that you and your organization create for the stakeholders. This means that you should define and track the key performance indicators (KPIs) and value metrics that reflect the outcomes and benefits of your activities and solutions. You should also report and share your results and achievements with your stakeholders and your organization, highlighting the value proposition and the return on investment (ROI) of your efforts. By measuring and communicating your value, you can show that you are delivering tangible and intangible value and enhancing the stakeholder satisfaction and loyalty.
A third essential role of a BRM is to develop your skills and competencies to perform your functions effectively and efficiently. This means that you should continuously learn and improve your knowledge, skills, and abilities in areas such as business acumen, relationship management, communication, collaboration, innovation, and leadership. You should also seek feedback and guidance from your stakeholders, your organization, and your peers to identify your strengths and areas for improvement. By developing your skills and competencies, you can show that you are committed to excellence and growth as a BRM.
A fourth vital role of a BRM is to advocate for your stakeholders and your organization, creating a bridge and a partnership between them. This means that you should represent and promote the interests, needs, and expectations of your stakeholders to your organization, ensuring that they are heard, understood, and addressed. You should also represent and promote the capabilities, resources, and value of your organization to your stakeholders, ensuring that they are aware, informed, and engaged. By advocating for your stakeholders and your organization, you can show that you are fostering trust, collaboration, and alignment between them.
A fifth crucial role of a BRM is to innovate and co-create value with your stakeholders and your organization, generating new ideas and solutions that solve problems and create opportunities. This means that you should encourage and facilitate creativity, experimentation, and learning among your stakeholders and your organization, leveraging their insights, feedback, and expertise. You should also implement and evaluate the ideas and solutions that you co-create, measuring their impact and value. By innovating and co-creating value, you can show that you are adding value and enabling change and transformation for your stakeholders and your organization.
The most important aspect to any business is revenue. Acquiring a new customer incurs additional cost and this is where BRM role comes in handy. Building strong solid relationships with existing customers plays a vital role in retaining these accounts which eventually helps is retaining recurring business and increase profotability. Tying BRM's effort impact in revenue is the best way to show the value to management.