A business development manager plays many different roles related to helping a business grow. One main duty of a business development manager is achieving revenue goals. An individual in this position must actively identify and generate prospects using strategies geared towards customers in their target markets. Maintaining good working relationships with current clients is key as well. This helps to increase client retention and to promote new sales and connections through referrals and references. Along those same lines, a business development manager must also find and develop new and existing referral sources from which successful referential relationships can be gained. A typical day in the life of a business development manager may include meeting with different company teams and establishing goals and strategies, meeting with clients to discuss business relationships, developing proposals for new strategies, etc. Business development managers are hired in almost any and every type of industry.
BD Managers have a lot of flexibility concerning where they are able to work. The work environment is typically in corporate offices of the companies which employ them. Business development managers work with a number of different people on any given day. One of the most important work relationships for this position is the relationship with sales managers. Business development managers work alongside these, and other department heads, to collaborate on and implement sales strategies, goals, and techniques. Other key people with which the business development manager works with include marketing teams and research teams as well as current clients. Key skills required include excellent interpersonal communication skills and the ability to multitask in addition to the ability to work with a wide range of different people. A bachelor's degree in business or a related field is the typical requirement for this type of position. A typical work week for a business development manager is usually the normal 40 hours per week, although this figure may vary depending on the employer, pending completion of projects, etc.
Business Development Manager Tasks
- Identify and develop new and existing referral sources to develop successful referring relationships.
- Actively identify and generate prospects through strategic sales strategies focusing on customers in target markets.
- Achieve revenue goals.
- Maintain good working relationships with existing clients previously to enhance client retention and new sales through referrals and references.