The Role of the Business Development Manager
A Business Development Manager works to improve an organization’s market position and achieve financial growth. This person defines long-term organizational strategic goals, builds key customer relationships, identifies business opportunities, negotiates and closes business deals and maintains extensive knowledge of current market conditions. Business Development Managers work in a senior sales position within the company. It is their job to work with the internal team, marketing staff, and other managers to increase sales opportunities and thereby maximize revenue for their organization. To achieve this, they need to find potential new customers, present to them, ultimately convert them into clients, and continue to grow business in the future. Business Development Managers will also help manage existing clients and ensure they stay satisfied and positive. They call on clients, often being required to make presentations on solutions and services that meet or predict their clients’ future needs.
The primary role of the Business Development Manager is to prospect for new clients by networking, cold calling, advertising or other means of generating interest from potential clients. They must then plan persuasive approaches and pitches that will convince potential clients to do business with the company. They must develop a rapport with new clients, and set targets for sales and provide support that will continually improve the relationship. They are also required to grow and retain existing accounts by presenting new solutions and services to clients. Business Development Managers work with mid and senior level management, marketing, and technical staff. He/she may manage the activities of others responsible for developing business for the company. Strategic planning is a key part of this job description, since it is the business manager’s responsibility to develop the pipeline of new business coming in to the company. This requires a thorough knowledge of the market, the solutions/services the company can provide, and of the company’s competitors.