Business development associates help increase growth and sales for their company. The field in which they work may vary, including everything from information technology (IT) to marketing to engineering. Much of the position is focused on developing strategies to build new client relationships while maintaining existing relationships.
Business development associates analyze the potential for growth opportunities within their business. They closely monitor and work with departments that would be impacted by the implementation of their strategy, including research and development (R&D), production, marketing, and sales. Based on their analysis, they develop a business plan, mapping how the company can increase net income. Some of the data produced and monitored by business development associates include reasons for gains and losses (with regard to clients), opportunities available to market and sell to a client, the top performers in sales, and the services and products that the company offers that specific clients may be seeking.
Business development associates monitor clients and identify opportunities for attracting, selling to, and retaining a relationship with that client. Based on these numbers and reports, the business may change or redirect their marketing and sales strategies.
Business development associates typically hold bachelor’s degrees (or higher) in business management, accounting, or a related field. They may also have experience in sales. Business development associates are expected to have some background with the strategic planning, sales, marketing, and finance. Many business development associates can work their way up to this position by starting in a sales or marketing position.
Business Development Associate Tasks
- Supervise implementation, advocate for the customer's needs, and communicate with client.
- Identify, prioritize, and reach out to new business categories, partners and opportunities.
- Develop, execute and evaluate new plans for expanding increasing sales.
- Document all customer contact and information.