what is a business development manager?
A business development manager is a member of the sales team, and you will work with people inside and outside the organisation to create new business opportunities. Your job is 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 a company's client list. Your goal is to push people through the sales funnel and sign them up as customers. Since you are the company's public face, you need to convey professionalism to prospects and potential clients. Making the right decisions and using the best strategies can help you achieve strategic goals.
Business development managers spend most of the time generating new business opportunities and ensuring the peak performance of sales staff. Hence, they need exceptional interpersonal and negotiation skills. Expertise in conducting research and developing business trends aids in sound decision-making and helps steer the company towards growth opportunities. Collaborating well with others, especially the 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 in the construction, manufacturing or retail industries or for a consultancy firm.
Would working as a business development manager suit your negotiation skills? Then read on to find out what competencies and qualifications you need to thrive in a business development manager role.
average business development manager salary
According to National Careers, the median business development manager salary starts at £26,000 per year. The salary grows as you improve your experience and expertise, and you can earn over £64,000 annually at the expert level.
Most employers offer commissions for bringing in clients or end-year bonuses to reward your contribution to business growth. Apart from salaries and commissions, your compensation includes various allowances to make it easier to do your job. For instance, you will have a transport allowance for travelling to meet with customers and medical insurance. Companies also pay a pension contribution for their employees and provide paid holidays and sick leave.
how to increase your salary as a business development manager
The compensation package of a business development manager depends on your work experience and level of expertise. When you have experience working in the field, you are likely to earn more since you are an expert in closing deals and studying business trends. Your qualifications also influence your salary prospects. For instance, a business development manager with a master's degree will likely earn a higher salary. Your location also affects your wages, as urban areas have a higher demand for business development managers.
types of business development managers
The types of business development managers depend on the industry they work for, including:
- 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 project meets the clients' needs and develop relationships with all the construction project stakeholders.
- cybersecurity business development managers: you study trends in cybersecurity and develop ways to improve computer systems' security. 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 and help 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 develop long term relationships with their clients and find new customers. Let's explore some of the business development managers' duties and work schedules.
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business development manager job description
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 that you can 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 need to 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 need to 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 have to pursue important leads that can generate significant revenue for your employer. This part of your role involves pitching ideas to prospects and developing proposals on how your company can 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 in the best strategies for approaching clients. You also set goals for the business development teams and help workers implement strategies to meet objectives.
- attending conferences and company events: as a business development manager, you must stay on top of industry events and upcoming trends. This involves attending conferences and meetings to keep up with changes in the industry.
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work environment
A business development manager works 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, attend meetings, and research clients. You also meet with clients at their preferred location. Sometimes, you have to work outdoors, for instance, for a game of golf, attend social events with prospective clients, or make home visits to discuss proposal details. Some travelling to conferences and other industry events is usually involved.
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who are your colleagues?
As a business development manager, your colleagues include sales, marketing and customer relationship managers. You might also be working in close proximity to accountants and lawyers, as well as other specialists that could include business development executive, hr business partners, hr managers, product managers and finance managers.
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work schedule
As a business development manager, you work between 38 and 40 hours a week. However, the role extends beyond traditional office hours, as you meet clients at times convenient to them. You can attend events and appointments in the evenings or a work conference over the weekend. While part-time opportunities are available, they are rare. You can accomplish many of your duties without leaving your office, but you frequently have to meet with clients to develop and build good relationships. Therefore, some business development managers work from home or remotely some of the time.
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job outlook
The career outlook for business development managers is promising, with a job growth rate of 5% in the UK. You should expect up to 25,500 new jobs by 2027 created by expanding opportunities and workforce retirements. Apart from the projected growth, the career path is also promising, and the role can 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 roles like marketing director or regional sales manager. Some business development managers become chief executive officers.
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advantages of finding a business development manager job through randstad
Finding your business development manager job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a business development manager is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
education and skills
Some of the educational requirements of a business development manager include:
- university and college courses: become a business development manager by completing a degree in a relevant subject like marketing, business management, international relations or business development. A college course in sales or marketing is also a good step into the role. For instance, you can pursue a Level 3 Certificate in sales and account management or a Level 3 Award in business development skills.
- work experience: most employers hire someone with a background in sales or marketing. That means you need extensive work experience through internships or industry placement to gain the required skills to excel in the role.
skills and competencies
Some 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 rapport with clients and build better relationships.
- time management skills: you should have exceptional time management skills to help you prioritise tasks and adjust your schedule as needed.
- technical and computer skills: you need computing skills to operate customer management systems and content management platforms for tracking leads and client calls.
- personal drive: you have to be goal-oriented and driven to achieve your objectives in this role. When you have drive and self-motivation, you can push yourself to meet targets.
FAQs
FAQs about working as a business development manager
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what is the role of a business development manager?
A business development manager evaluates the current sales performance of a company and finds ways to help the business expand and grow. You study trends and help companies to explore new markets.
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is a business development manager similar to a sales manager?
A business development manager develops strategic partnerships to help the company grow. A sales manager focuses on generating sales and revenue instead of building relationships.
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are business development managers paid well?
The entry-level salary is £25,000 per year. However, with experience, you can earn over £64,000.
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what does it take to be a business development manager?
You need a degree in a related business field and extensive work experience in sales or marketing to succeed in the role.
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how do I apply for a business development manager vacancy?
Applying for a business development manager job is easy: create a Randstad profile and search our job offers for business development vacancies. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips and job interview questions here!
