What Does a Business Development Manager Do?

 

What Does a Business Development Manager Do?


Business Development Managers are involved in strategic planning, sales management, and prospecting to contribute to the growth of an organization. If you're interested in strategic planning, setting and achieving goals, and working with people inside and outside your organization, you may be interested in a career as a business development manager.

As a member of the sales team, you will help identify potential customers, pitch new customers, and build relationships with customers and colleagues. Business development is essential for the growth of an organization.

 

What is a Business Development Manager?

The Business Development Manager (sometimes abbreviated as BDM) is a key member of the go-to-market team (GTM). They are responsible for creating a list of potential customers and inviting those prospects to create the company's list of customers. 

In sales terms, it helps guide people from the top of the sales funnel to the goal of becoming a contract customer. Business development roles require many business skills, including strategic planning, project management, and successful negotiation.

 

Tasks and Responsibilities

This role varies from company to industry, but tasks can be expected to include the following:

• Identification of opportunities in the target market for organizational products and services

• Create potential customers using potential customers or networks during the exhibition

• Development and development of relationships with major customer accounts

• Do not delay the latest industry development, such as positioning in business competitors’ market

• Evaluation of customer needs and the ability of the company that meets these needs

• See the potential reference received from the sales team to follow new customers

• Preparing reports on target status

• Use and interaction of software to manage customer relationships (CRM) such as sales forces

A prosperous commercial development manager often plays a higher role in business development and sales management.

 

Why do you Continue your Career as a Commercial Development Director?

A career as a business development manager is suitable for someone who is sociable, interested in sales strategies, and enjoys working with people. Great business development managers love prospecting and can accept rejection gracefully. They see every "no" as a step toward a "yes." I also enjoy being part of a team that creates and executes growth strategies for the business.

Business development manager salary, according to job site Glassdoor, the average salary for a business development manager in the United States is $128,962 per year (January 2024). Salaries may vary depending on industry, location, and experience.

 

How to Become a Business Development Manager

To become a business development manager, follow his five steps:

1. Get Basic Education

Many business development managers have at least a bachelor's degree in business or a related field, and some have a master's degree. Business degree courses provide foundational knowledge in the areas of decision-making, data analysis, innovation and entrepreneurship. Additional courses in Communication, Marketing, and Psychology will teach you key concepts related to the "human element" of business development.

 

2. Gain Relevant Experience

Experience with the sales process is helpful. For example, your responsibilities as an entry-level retail salesperson may include guiding customers through the sales process. As an outside sales representative, your responsibilities may include communicating with potential customers, demonstrating products, and generating new leads. Other key areas of experience include strategic planning, business management, and successful negotiation.

 

3. Develop Technical Skills

Technical skills that will help you succeed as a business development manager include project management, working with Microsoft 365, and conducting search engine research. As companies increase their need for secure information systems and reliable use of data for decision-making, you may find that specialized training in cyber-security and data analysis gives you an edge as a commercial development manager. I don't know.

Additionally, mastering customer relationship management (CRM) software can prepare you for a role as a business development manager, especially in larger organizations.

 

4. Improve your Resume

As you gain experience, skills, and education, it's important to keep your resume up to date. Browse business development manager job openings to see what companies are looking for. Highlight qualifications that match job requirements and display them prominently on your resume. Use action verbs to describe tasks you performed in previous roles and highlight measurable results if possible.

 

5. Find your First Business Development Manager Role

Once you have your qualifications and an updated resume, the next step is to apply for the business development manager position that interests you. Which ones contribute to the lifestyle you want? Which of these positions allows you to work on projects and tasks that you're passionate about? What excites you about companies advertising business development manager positions? A recruiter or recruiter will come to your home to set up interviews with companies and spend time improving your interviewing skills. You'll also want to learn how to effectively answer behavioral questions using the STAR method and prepare to ask your interviewer meaningful questions so you can make the best decision for your career.


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