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When decisionmakers representing top global insurance and financial brands are looking for the next best product or service that will pipeline new revenue streams into their companies, they take a meeting with Newtwon resident Michael Vaccaro to learn the details about innovative clients he has researched, vetted, and determined are the right fit.
Mr Vaccaro makes it his business to know about these often undiscovered, but potentially lucrative entrepreneurs or start-ups as founder and managing director of Develocity Group.
According to his online biography, the local company owner brings nearly 20 years of C-level business development and sales experience as an industry expert in the B2B2C/B2B complex sales segment.
His ability to recognize and qualify entrepreneurial or fledgling ventures, products, and systems has generated more than $1 billion in qualified sales, and hundreds of millions in total contract value leading to more than $40 million in revenue per annum for the corporate beneficiaries of Develocity’s discoveries, develocitygroup.com touts.
As an adviser to business leaders across sales, marketing, and business development arenas, he is frequently fielding calls for go-to-market support and insight.
“The challenge for my clients is they might not have the brand recognition, but they have something that can make a lot of money for these global, Fortune, multi-billion-dollar brands like a Liberty Mutual or a State Farm,” he explained during a recent chat with The Newtown Bee. “So I have the facility to get them in front of the chief technology officer, or the chief operating officer so they can explore the fit, and save the time of developing their own growth opportunities. So I will put together the messaging for my clients, figure out who those stakeholders are, and effectively go out there and set up these discussions. I get them on the calendar.”
This means Mr Vaccaro needs to not only keep up to the moment on ways he sees these global brands moving to serve their clients, but also has to have a thoroughly vetted stable of clients with viable products ready to present — sometimes literally at a moment’s notice.
Walking The Development Tightrope
Mr Vaccaro cultivated the talent to walk this corporate development tightrope prior to founding Develocity Group in senior business development and sales roles at Equifax, Experian, Affinion Group, WIN Healthcare Inc, and BroadReach Partners.
Mr Vaccaro also holds a master’s degree from University of Hartford and a bachelor’s degree from Western Connecticut State University.
“So simply put, I’m an executive level strategic intermediary,” he said. “I’m retained for my expertise and tactics to go to market on their behalf, and source organic new business and sales opportunities. It’s very high level, though — normally six-, and occasionally up to eight-figure range propositions.”
Typically, he is engaged with his clients on a six-month to two-year cycle from signing to completion, because virtually every one represents a “complex value proposition, that require a tremendous amount of tactical support from a business perspective, so when I arrange these opportunities with these global execs — they stick.
“I’m not responsible for closing the business. I am serving them by helping them strategically open doors,” he said.
So, how many of these relationships has Mr Vaccaro arranged?
“Except for companies looking for immediate relationships, because say, maybe they’ve just been hacked and are looking for new IT security options, these arrangements are complex — so I’m seeing as much as 20 percent of my clients eventually closing,” Mr Vaccaro said.
That closing rate is both laudable and desirable. As a result, Mr Vaccaro is currently seeking associate development professionals who can work with him to begin boosting that closing ratio even higher.
“My value proposition to Develocity clients is getting them to the point of closing a million-dollar relationship for about 10 to 12 percent, so the ROI is just about perfect for them,” he added.
As stated on his website, Mr Vaccaro identifies emerging trends, hidden sales opportunities, and breaks down barriers that most organizations cannot accomplish internally.
“Our group acts as a synergistic sales catalyst within your company to develop new strategies, uncover hidden potential, and clear roadblocks to organic growth,” he said.
From the sound of his already stellar track record, Mr Vaccaro is having a “Devel” of a successful launch.
Learn more at develocitygroup.com.