What does a business development manager do?
A business development manager works to grow revenues. They do this by conducting research into an organisation’s products and offerings, as well as the relevant marketplace trends and conditions, to identify opportunities for business improvement. They use this information to design and implement sales strategies and business development plans.
Most crucially, business development managers cultivate relationships with stakeholders, particularly existing and prospective customers, in order to move them along the sales funnel all the way through to successfully closing deals.
Business development manager skills and qualifications
A business development manager requires an array of interdisciplinary skills in order to be successful. Ideal candidates will have knowledge of and experience in the industry of your business. If not, they should have the ability to quickly familiarise themselves with products and services, industry trends and customer needs. Business development managers should also be able to build and maintain relationships with current and prospective clients.
- The ability to research and analyse products, services, markets, and industries
- Superior communication skills, including empathetic listening, effective questioning
- The ability to present technical and non-technical information to a range of different audiences
- Ability to design and implement business development strategies, build and maintain a brand
- Stakeholder and client management skills, including the ability to negotiate, manage expectations and resolve conflicts.
Business development manager experience requirements
Candidates hoping to advance a sales career to the stage of business development manager may have prior experience working as a business development associate, a business development analyst, a junior relationship manager, or an administrative officer. Candidates with 1-3 years’ experience in these or similar positions will be able to hit the ground running in the more demanding role. Look for 3-5+ years of experience in larger companies or for positions dealing with larger sales portfolios.
Business development manager education and training requirements
Both a combination of industry experience and formal educational certification should be required when advertising for a business development manager position. As a role with significant, management and commercial responsibility, at least an undergraduate degree, if not a postgraduate certification, should be asked for.
A bachelor degree in commerce, economics, business, marketing, finance or business development is necessary as a baseline qualification. These courses usually take a minimum of three years to complete. A shorter alternative could be a Diploma of Business (Business Development), which requires twelve months of study.
For roles within larger organisations requiring further expertise, look for candidates who possess a Master of Business Administration (MBA), in addition to an undergraduate qualification.
Business development manager salary expectations
According to Indeed Salaries, the average salary for a business development manager is $99,841. Actual salaries can vary depending on location, candidate experience, and job requirements.
Job description samples for similar positions
If this job description for business development manager isn’t exactly what you need, you can take a look through some other descriptions we have listed for similar positions.
- Business development executive
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Business development manager job description FAQs
What’s the difference between a business development manager and a Sales Development Manager?
Both sales development and business development both work to increase awareness of a brand and the sales that come from that awareness. However, the area of focus of each of the two roles is slightly different. sales development focuses more on the immediate possibility of connecting clients to existing products and services, while business development looks at the future possibilities of expanding the company’s offerings or attracting new clients.
What makes a good business development manager?
The core attribute of a highly effective business development manager is their communication skills. This encompasses a raft of subskills, including empathetic listening, curious questioning, confident presentation, clarity and concision. Ultimately, successful business development managers can use their communication skills to effectively manage internal team efforts and nurture external client relationships.
What are the challenges of the business development manager position?
As the role of business development manager contains a wide variety of different tasks and responsibilities, staying organised, focussed and self-motivated can be a challenge. Business development managers need to take an agile, flexible approach to their work, to ensure they stay balanced across all of their tasks.
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