what is it like to work as a business development manager?
A business development manager is a member of the sales team who works both within and outside the organization to create new business opportunities. Their responsibilities include making proposals to new clients and building long-term relationships with the company's customers.
As a member of the sales team, you create and develop sales opportunities to grow the company's customer base. Your responsibility is to guide clients through the entire sales process and register them as buyers at the end. You represent the company's public face and must project professionalism to potential clients. Making the right decisions and implementing the best strategies can help achieve the company's strategic objectives.
what does a business development manager do?
A business development manager primarily creates new business opportunities and ensures the sales team’s top performance. Therefore, they must possess excellent relationship-building and negotiation skills. Their experience in market research and developing business trends helps in making informed decisions and contributes to identifying the company's growth opportunities. If they collaborate well with others, especially with leaders in sales and marketing, it significantly facilitates their work.
In most industries, business development managers play a key role in creating new business opportunities. They can work in construction, manufacturing, sales, or as employees of consulting firms.
Check out our latest sales job openings.
business development manager jobs
average salary of business development manager.
Our salary calculator allows you to explore pay ranges and see how much a starting or experienced business development manager earns.
Most employers offer commissions for acquiring clients or quarterly/annual bonuses for contributing to business growth. In addition to salary and commissions, the compensation package includes various benefits such as travel expense reimbursement and health insurance.
Want to know how much a business development manager earns? check out our salary calculator!
salary calculatorhow can you earn more as a business development manager?
A business development manager's compensation package depends on their work experience and expertise. If they have extensive experience in the field, they can expect a higher salary, as they are skilled in closing deals and analyzing business trends. Their qualifications also impact their earning potential: a business development manager with a master's degree is likely to earn a higher salary.
types of business development manager positions.
There are different types of business development manager roles, tailored to the needs of various industries and companies. Here are some examples of the different types of business development managers:
- Construction business development manager: Construction business development managers work on construction projects. Their responsibilities include identifying new construction opportunities, meeting client needs, and building relationships with all stakeholders involved in the projects.
- Cybersecurity business development manager: cybersecurity business development managers research cybersecurity trends and develop methods to improve the security of IT systems. They help companies and organizations make their online presence safer.
- Financial business development manager: financial services business development managers monitor financial performance and upcoming trends to help companies maintain a competitive edge in their sector and support their growth.
- Tech business development manager: technology business development managers work in the IT and tech industries. Their responsibilities include exploring new technological opportunities and trends, as well as developing business strategies to bring tech products and services to market.
- Service business development manager: Service business development managers work with various types of services, such as healthcare, education, or consulting services. In addition to exploring new market opportunities, they also help improve and make existing services more efficient.
In addition, there are many other types of business development manager roles, depending on the specific characteristics of industries and companies. These roles are tailored to the areas where there is a need to identify business opportunities and support the growth of the organization.
working as a business development manager.
Working as a business development manager involves building long-term relationships with clients and also seeking out new customers. Get to know more about the responsibilities and daily schedule of a business development manager.
-
responsibilities of a business development manager
The specific responsibilities of the business development manager include:
- Defining business goals: this involves identifying the objectives the company needs to achieve in order to grow. It also includes developing plans that can be implemented to support reaching these goals. Primarily, the focus should be on expanding the customer base and increasing revenue.
- Discovering new target markets: the main task is to identify new business growth opportunities. Therefore, the company needs to explore new markets. It develops plans and implements strategies to improve sales in these new target markets.
- Identifying new business opportunities: when you find a target market for your products or services, you also need to look for potential customers. Your task is to leverage market research and marketing campaigns to create new opportunities for your business.
- Developing proposals and quotes for prospective clients: the goal is to achieve results that can generate significant revenue for the employer. This part of your role involves presenting ideas to potential clients and developing suggestions on how to assist their company in reaching their objectives. When a client shows interest in a business proposal, you prepare a quote and negotiate prices.
- Business development staff training: they teach sales and marketing teams the best strategies for reaching out to clients. They can also set goals for the business development teams and assist them in implementing the strategies needed to achieve those goals.
- Participation in conferences and corporate events: as a business development manager, you need to stay up-to-date with industry events and upcoming trends. This includes attending conferences and meetings to keep pace with changes in the industry.
-
work environment
A business development manager works across various industries, including manufacturing, construction, and sales. While the goals they aim to achieve are similar across all business sectors, the work environment can vary. Typically, a business development manager performs most of their duties indoors, usually in an office setting, participating in meetings and researching clients. Most tasks can be completed from the office, but frequent client meetings are often necessary to build and strengthen relationships. Some business development managers work remotely or from home occasionally and spend a significant amount of time in the field as well.
-
who does a business development manager work with?
A business development manager may work alongside sales, marketing, and client relationship managers. They often collaborate closely with accountants and legal professionals, as well as other specialists such as HR business partners, HR managers, product managers, and financial managers.
-
working hours schedule
A business development manager typically works full-time, around 40 hours a week. However, their responsibilities often extend beyond traditional office hours, as they meet with clients at convenient times, including evenings or during weekend events. While part-time opportunities are available, they are quite rare. Many of their tasks can be completed from their office, but they often need to meet with clients in person to build and strengthen relationships. Some Business Development Managers also work remotely or from home occasionally.
-
development opportunities
A business development manager has numerous career opportunities, whether vertically or horizontally: from sales director and regional manager positions to executive leadership roles such as CEO. They can also advance their career as an innovation leader, developing new products and crafting innovative business strategies. Some business development managers choose to become entrepreneurs, leveraging their industry experience and connections to build successful businesses. The broad range of experience enables them to transition into various fields such as business consulting, education, or enterprise development. As a result, their career prospects are highly diverse and adaptable to different sectors and roles within the corporate world.
-
why it's worth applying for a business development manager position through randstad
There are several advantages to working with a Randstad consultant when searching for a business development manager position.
- a consultant who is well-versed in the sales sector of the labor market supports the selection process
- you can find a wide range of job opportunities on our website
- whether you're looking for a fixed-term or indefinite position, we help you find the job that best fits you
required studies and skills.
studies.
To work as a business development manager, acquiring professional knowledge is essential. It is advisable to choose one of the following training programs to get started:
-
a university degree
To qualify for a position as a business development manager, a minimum of higher education is generally required, such as a bachelor's degree or college diploma in a business-related field or a related area, such as marketing, economics, or entrepreneurship. Additionally, relevant professional experience and practical knowledge are highly important, especially within the business world and the specific industry.
-
professional training
Additional advantages may include pursuing an MBA or other advanced business degrees, as well as completing courses and workshops that support ongoing professional development. These can help business development managers work effectively in a changing business environment.
-
driver's license
Since the job involves travel, a category B driver's license and proper driving experience are essential.
skills.
The following skills are required for a business development manager to perform their job:
-
communication skills
You need to communicate effectively with clients from diverse backgrounds and varying levels of education. Strong verbal and written communication abilities can help strengthen relationships and foster better client connections.
-
time management
You need excellent time management skills to prioritize your tasks and, when necessary, flexibly allocate your time.
-
computer skills
You need to have knowledge of computer systems to operate CRM platforms and content management systems, which help track business opportunities and customer interactions.
-
personal commitment
You need to be goal-oriented and determined in this role. If you have perseverance and self-motivation, you'll find it easier to achieve your set objectives.
frequently asked questions.
We have compiled the most frequently asked questions regarding the business development manager role:
-
what is the role of a business development manager?
The business development manager reviews the company's current sales performance and looks for ways to expand and grow the business. They analyze market trends and assist companies in exploring new markets.
-
does a business development manager resemble a sales manager?
The business development manager focuses on building strategic partnerships to support the company's growth. In contrast, a sales manager concentrates on sales and revenue generation rather than relationship building.
-
what is a business development manager's salary?
You can find out the average salary range for a business development manager in our salary calculator, which may be supplemented with various benefits and commission/bonus schemes depending on the location.
-
what do I need to work as a business development manager?
A degree in a related business field and extensive work experience in sales or marketing are both essential for successfully applying for and filling this position.
-
how can I apply for the business development manager position?
Applying for a business development manager position is easy: create your Randstad profile and browse our job offers near you. Once logged in, you can apply with just one click for the opportunity that interests you on our website!