Business development managers are the cornerstone of any successful organisation because they are largely responsible for generating revenue and helping a company grow. But what does the job involve on a day-to-day basis? Do you have the necessary skills and aptitude to succeed in this role? Read on to find out more.
What are the main responsibilities?
The primary role of a business development professional is to identify and develop new business opportunities. You will likely be expected to indentify break into new markets, form partnerships, develop strategies to penetrate existing markets, or identify new product or service offerings to better meet the needs of your clients and customers, and be expected to exploit these opportunities to bring in more revenue.
Business development professionals typically use a variety of channels to generate new leads. It can be a combination of attending events and networking, taking up marketing booths at exhibitions and conferences, cold calling, and responding to incoming leads. You will also be expected to identify potential partner opportunities to cross and up sell service.
What will I be doing on a day-to-day basis?
While it can be difficult to generalise, most business development managers will be expected to:
- Generate leads and cold calling prospective customers
- Develop opportunities in target markets with the support of marketing
- Nurture and develop relationships with key customer accounts
- Attend face-to-face meetings with clients
- Provide specialist advice on the products and/or services you’re selling
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What are the other aspects involved in the job?
You’ll need to negotiate pricing with clients in line with internal guidelines. You’ll also need to keep your superiors updated on both your progress and pipeline, providing them with accurate forecasting of anticipated sales.
With this being a sales role, you will be subject to sales and KPI targets and this is a crucial part of the role. You’ll be expected to travel due to the importance of face-to-face client meetings. The extent of this will depends on where the job is based. If you’re based in Taipei, the majority of your meetings are in the capital; however, if your employer is based elsewhere either in the South or Central Taiwan, you may be required to travel a substantial amount.
You will also be expected to identify potential partner opportunities to cross and up sell service
What knowledge and experience is required?
To secure a business development manager job, you’ll need a strong sales track record. Specifically, hiring companies look for a proven ability to hit targets, a consistent background of winning new business, and often, relevant sector experience. Candidates with a solid book of contacts will also be highly sought after.
In terms of personality traits, employers generally look for people who are articulate, polished and professional who have a good telephone manner. A self-motivated and disciplined approach is essential.
