Overview: Traditionally, business development jobs—including new business development manager jobs—are designed to expand an organization’s reach into new market areas. This could involve forming partnerships with other businesses to sell one company’s products to another company’s customers—new business development strategies that generate brand awareness and top-of-mind consideration for professional services and similar companies. In this sense, business development jobs are sometimes called new business development jobs.
Business development jobs require strategic planning and in-depth knowledge of the organization’s competitors and the marketplace. Typically, those in business development jobs or new business development jobs work closely with the sales and marketing departments to find potential new clients, and to work on proposals and scrutinize existing contracts.
In the online marketing world, however, business development jobs are specialized sales roles tasked with the responsibility of researching, prospecting, and qualifying leads before sending them along to the sales team to further development and closure.
But unlike sales jobs, employees with business development jobs don’t usually carry a quota and they aren’t normally responsible for directly closing deals, even though they are responsible for bringing in enough qualified leads to generate a certain level of business activity.
This kind of role specialization for business development jobs is part of today’s online marketing strategy to split the sales cycle into specialized areas of responsibility to maximize efficiency and output. This kind of specialized role has become vitally important due to the increased competition for online reader/customer attention.
Employees in business development jobs focus on prospecting and lead qualification so the organization’s top sales performers are freed up to do what they do best; namely, close deals, rather than spending inordinate amounts of time researching companies and hunting for leads.*
Educational Requirements: Business development jobs, especially new business development manager jobs, require a bachelor’s degree and may prefer a master’s degree, such as a Masters of Business Administration, as well as three-to-five years of experience. In the online marketing world, specialized business development jobs are designed to train and mold newer sales reps, so they tend to be entry-level positions requiring a Bachelor’s Degree in Business Administration or related field. Through consistent performance new hires in business development jobs may prove that they can handle a quota-carrying sales position within the organization.
GlassDoor.com identified business development jobs among the 25 Best Jobs in America for 2016, based on the number of job openings, salary, and career- opportunities rating. Business development jobs seem to be a solid career move because bringing in new business is the lifeblood of almost every organization and doing so isn’t as easy as it used to be,” experts say. What’s more, business development jobs should remain strong due for the foreseeable future to increased online competition.
Expected Salary: Those seeking business development manager jobs can expect a median annual salary is $115,813, as of May 31, 2016, with a range usually between $93,937 and $137,354, depending on a wide variety of factors, according to Salary.com, whereas an entry-level business development manager may expect to earn around $58,486, depending on his or her geographic location and skill set in strategic sales, according to PayScale.com. Entry-level business development jobs in marketing may pay less, commensurate with experience.
Typical Job Description: Here’s a sample business development manager job description designed to assist HR talent professionals who need to create a job application that will attract qualified candidates, as well as job candidates who are seeking to understand the specific job duties and requirements of business development manager jobs.
Business Development Manager Job Responsibilities:
Builds market position by locating, developing, defining, negotiating, and closing business relationships.
Business Development Manager Job Duties:
- Identifies trendsetter ideas by researching industry and related events, publications, and announcements; tracking individual contributors and their accomplishments.
- Locates or proposes potential business deals by contacting potential partners; discovering and exploring opportunities.
- Screens potential business deals by analyzing market strategies, deal requirements, potential, and financials; evaluating options; resolving internal priorities; recommending equity investments.
- Develops negotiating strategies and positions by studying integration of new venture with company strategies and operations; examining risks and potentials; estimating partners’ needs and goals.
- Closes new business deals by coordinating requirements; developing and negotiating contracts; integrating contract requirements with business operations.
- Protects organization’s value by keeping information confidential.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
Business Development Manager Skills and Qualifications:
- Closing Skills, Motivation for Sales, Prospecting Skills, Sales Planning, Selling to Customer Needs, Territory Management, Market Knowledge, Presentation Skills, Energy Level, Meeting Sales Goals, Professionalism. **
* Ye, Leslie. Sales vs. Business Development: What’s the Difference? [FAQ]. Hubspot, May 18, 2016, (Accessed June 20, 2016).
** Business Development Manger Salaries, Salary.com, (Accessed June 20, 2016).
*** Entry-Level Business Development Manager Salary, PayScale.com (Accessed June 20, 2016).
**** Business Development Manager Job Description Sample, Monster.com. (Accessed June 20, 2016).
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