what is a business development manager?
As a business development manager, you are a member of the company's sales and marketing team. You work with people inside and outside the organisation to identify new business opportunities. Your job involves offering proposals to new clients and building long-term relationships with the company's customers.
As part of the marketing team, you build sales leads, pitch to new prospects, and develop the company's client list. You aim to push people through the sales funnel and sign them up as customers. Since you are the company's public face, you should convey professionalism to prospects and potential clients. Making the right decisions and using the best strategies helps you achieve strategic goals.
As a business development manager, you spend most of your time pursuing new business opportunities and ensuring the peak performance of sales staff. Hence, you need exceptional interpersonal and negotiation skills. Expertise in conducting research and monitoring business trends aids in sound decision-making and helps you steer the company towards growth. Collaborating well with others, especially senior members of the sales and marketing teams, makes your job easier.
Most industries rely on business development managers to generate new opportunities. You could work for a consultancy firm or an organisation in the construction, manufacturing and fast-moving consumer goods (FMCG) industries.
Would working as a business development manager suit your negotiation and relationship-building skills? Then read on to find out what competencies and qualifications you need to thrive in a business development manager role.
view jobsaverage business development manager salary
According to the Economic Research Institute, your average earnings as a business development manager in Greece fluctuate based on a variety of factors. Your median salary is €50,000 annually, which equals an average hourly rate of €24. In some companies, you enjoy various benefits and are likely to get an average bonus of €4,000 per year. Your salary when starting as a business development manager is approximately €35,000 yearly. The compensation package increases gradually, and you can take home over €62,000 annually.
how to increase your salary as a business development manager
Your compensation package depends on your experience and educational qualifications. You have minimal experience and credentials in an entry-level business development manager role, which attracts a lower salary. Experienced business development managers take home higher earnings due to their extensive experience.
The company size and the products you market also influence your earnings. When you work in a small company, you have minimal tasks and less complex responsibilities. Hence, you take home a lower salary. In a large organisation, you handle complex duties and deal with a larger market size. The value of the items you sell also influences your earnings, especially in companies with commission-based benefits.
types of business development managers
The types of business development managers depend on the industry they work for. These include:
-
construction business development managers
Your job in construction is to look for new building projects on behalf of your employer. Apart from identifying new prospects, you ensure the projects meet clients’ needs and develop relationships with construction project stakeholders.
-
cybersecurity business development managers
You study trends in cybersecurity and develop ways to improve the security of computer systems. If your employer offers cybersecurity as a service, you identify prospective clients in various industries.
-
financial services business development managers
You monitor the performance and upcoming trends in financial services, helping your employer stay ahead in the sector. You also find new ways to reach existing markets.
working as a business development manager
Working as a business development manager involves helping businesses find new customers and develop long-term relationships with their clients. Let's explore some business development manager duties and their work schedules.
-
what does a business development manager do?
Specific tasks of a business development manager include:
- Setting business goals: as a business development manager, you set the goals that a business needs to achieve to improve growth. You also develop plans, which you implement to support the achievement of those goals. Your objectives should focus on growing the customer base and improving revenue.
- Researching new target markets: as a business development manager, your primary role is to identify new opportunities for business growth. Therefore, you research new markets for the company to explore. You create plans and implement initiatives to improve sales in new target markets.
- Identifying new business leads: when you spot a target market for your products or services, you research prospective accounts in the market. Your job is to leverage market research and marketing campaigns to generate new leads for the business. You also pursue leads and move them through the sales cycle.
- Developing proposals and quotes for prospective clients: as a business development manager, you pursue important leads that generate significant revenue for your employer. This part of your role involves pitching ideas to prospects and developing proposals on how your company will help them achieve their goals. When a client is interested in the business proposal, you generate quotes and negotiate prices.
- Training business development staff: as a business development manager, you train the sales and marketing teams, educating them on the best strategies for approaching clients. You also set goals for the business development teams and help workers implement strategies to meet the objectives.
- Attending conferences and company events: as a business development manager, it is important to stay on top of industry events and upcoming trends. This involves attending conferences and meetings to keep up with changes in the industry.
-
work environment of a business development manager
Business development managers work in various industries, including manufacturing, construction and retail. Your objective in all the business sectors is the same, but the work environment may differ. As a business development manager, you mainly work indoors, attending meetings and researching clients. You also meet clients at their preferred location. Sometimes, you work outdoors as you have to attend social events with prospective clients, or when making home visits to discuss proposal details. You can expect some travelling to attend conferences and other industry events.
-
who are your colleagues?
Depending on your industry, your colleagues might include sales managers, marketing managers and business development executives. You also work alongside account managers, finance managers and HR managers. Other professionals you may work with include product managers, accountants and marketing executives.
-
business development manager work schedule
As a business development manager, you work between 38 and 40 hours a week. While part-time opportunities are available, they are rare. You can accomplish many of your duties without leaving your office, but you frequently meet with clients to develop and build good relationships. Therefore, business development managers can sometimes work from home or remotely.
-
career opportunities as a business development manager
The career path is also promising for business development managers, and the role could be your first step into executive positions in a company. As a business development manager, your situation is similar to sales and marketing managers. You can progress to other senior roles, such as marketing director or regional sales manager. Some business development managers become chief executive officers (CEOs).
-
advantages of finding a job as a business development manager through randstad
Working with Randstad offers you a range of benefits.
- always a contact person you can fall back on and ask for help from
- a range of jobs in your area
business development manager skills and education
Some of the educational qualifications you require to work as a business development manager include:
- Education: to work as a business development manager in Greece, most employers require a bachelor’s degree in a relevant field. Pursue a degree in business management, marketing or business administration. You will learn about market research techniques and how to develop and implement marketing strategies.
- Work experience: to excel in your role as a business development manager, you require extensive work experience. Gain relevant experience through entry-level sales and marketing roles. You will build your experience in sales and customer service.
competencies and characteristics of business development managers
Some of the qualities of a business development manager include:
- Communication skills: as a business development manager, you communicate with clients from diverse backgrounds and education levels. Your verbal and written communication skills can improve client rapport and build better relationships.
- Time management skills: you should have exceptional time management skills, as they will help you prioritise tasks and adjust your schedule.
- Technical and computer skills: you need computing skills to operate customer relationship management (CRM) platforms and content management systems (CMS) for tracking leads and client calls. Technical skills also help you use office management systems, which you use to complete administrative tasks associated with the role.
- Personal drive: you should be goal-oriented and driven to achieve your objectives in a business development manager role. When you have drive and self-motivation, you can push yourself to meet targets.
FAQs
Here, you will find the answers to the most frequently asked questions about the profession of a business development manager.
-
what are the duties of a business development manager?
As a business development manager, you drive business growth. Your job is to identify new markets and opportunities to grow revenue. You develop a network of contacts and generate leads to attract new clients. Other duties include researching new market opportunities and overseeing growth projects. You also make sales projections and forecast revenue.
-
is business development manager a sales role?
Yes. As a business development manager, you are responsible for lead generation. You identify sales opportunities in the market through your contacts and work with the sales teams to close the deals. You also work closely with sales executives to handle any issues that occur during the purchase process.
-
do business development managers need a degree?
While there is no specific educational requirement to become a business development manager, most employers expect a bachelor's degree. You should get a degree in communications, marketing or business administration. Aside from completing formal education, you require extensive experience in sales or marketing.
-
what is the difference between a business development manager and a business manager?
As a business development manager, you work in the marketing or sales department. Your job is to identify ways to build the company's revenue by generating leads and identifying new markets for the business. A business manager, on the other hand, caters to day-to-day business operations. The tasks of a business manager are mainly administrative functions, not marketing the company products.
-
what makes a good business development manager?
To excel as a business development manager, you require practical communication skills. You need relationship-building skills to help you develop lasting relationships with key clients in the company. Your adaptability helps you adjust to the needs of clients.
-
how do I find a job as a business development manager?
Finding a job near you as a business development manager is easy. Search our job offers. Have you found what you're looking for? Then submit your application using the ‘Apply’ button top right on the page. No jobs available right now? Then log in or register an account to send us your resume and we'll pass it on to a recruiter who will contact you if an opportunity opens up for you.
