In a nutshell, Business development managers or BDM are concerned with improving and growing a business, by establishing and developing relationships with customers, suppliers and other partners.
As a business development manager, you will identify new business opportunities in order to generate revenue, improve profitability and help the business grow.
Your work can involve careful strategic planning and positioning in the appropriate markets, or enhancing the operation of the business, position or reputation in some way.
You may have a single role in the organization or lead a team of staff. Your work will often reach across all areas of the business.
The primary objective is to identify new business opportunities. What form this takes will depend on the exact nature of the company. But you will more than likely be looking to identify new markets, new partnerships, new ways to reach existing markets, or new product or service offerings to better meet the needs of existing markets. And then you will be expected use these opportunities to bring in more revenue.
How that happens exactly depends on the industry. It can be a combination of attending events and networking, taking stands at exhibitions and conferences, cold calling, and responding to incoming leads. You will also more than likely be expected to identify partner opportunities to cross and up sell services.
Some more information about Business Development Manager
Important : These are some basic guidelines and tips.
1.
If we try to get generalized answers, these are the routine tasks of a BDM :
Generate leads and cold calling prospective customers.
Develop opportunities in target markets with support of marketing.
Nurturing and developing relationships with key customer accounts.
Attending meetings with clients by oneself or a team-member.
Providing specialist advice on the products and/or services you are offering.
2.
In a single line, the answer is ; a self-motivated and disciplined approach.
But that`s a very generalised answer, right? Let`s check the specific skills required to perform tasks of a BDE.
Understands People`s Buying Patterns and Trends
Believes in Inbound Marketing
Asks Great Questions and Listens Intently
Sets Goals and Develops Action Plans
Is the Right Type of Salesperson for the Role
Possesses a High Curiosity Quotient
Ability to Build a Brand
Sets Realistic Expectations with Clients
In-Depth Knowledge of the Agency Business
3.
Organizational skills
Communication skills
Technical skills
Interpersonal skills
Negotiating skills
Collaboration skills
Problem-solving skills
Analytical skills
Business writing skills
Self-motivated
Business acumen
Flexibility and adaptability
Don`t you thing these are very familiar and common things?
Of course, they are. And that`s the point. Anyone can be a successful BDE. You need to just take-off. Are you ready?
4.