A Business Development Manager is responsible for helping organizations obtain better brand recognition and financial growth. They coordinate with company executives and sales & marketing professionals to review current market trends in order to propose new business ideas that can improve revenue margins.
As a business development manager, you'll need to:
- research and identify new business opportunities - including new markets, growth areas, trends, customers, partnerships, products and services - or new ways of reaching existing markets
- seek out the appropriate contact in an organisation
- generate leads and cold call prospective customers
- meet with customers/clients face to face or over the phone
- foster and develop relationships with customers/clients
- understand the needs of your customers and be able to respond effectively with a plan of how to meet these
- think strategically - seeing the bigger picture and setting aims and objectives in order to develop and improve the business
- work strategically - carrying out necessary planning in order to implement operational changes
- draw up client contracts - depending on the size of company, this task may be completed by someone else or agreements may not be as formal
- have a good understanding of the businesses' products or services and be able to advise others about them
- ensure staff are on board throughout the organisation, and understand the need for change and what is required of them
- train members of your team, arranging external training where appropriate
- discuss promotional strategy and activities with the marketing department
- liaise with the finance team, warehousing and logistics departments as appropriate
- seek ways of improving the way the business operates
- attend seminars, conferences and events where appropriate
- keep abreast of trends and changes in the business world.
business development role is more sales orientated:
- help to plan sales campaigns
- create a sales pipeline
- negotiate pricing with customers, and suppliers in some cases
- increase sales of the business
- carry out sales forecasts and analysis and present your findings to senior management/the board of directors
- develop the business sales and marketing strategy.