What is the role of a Business Development Professional?
Home » Business  »  What is the role of a Business Development Professional?
What is the role of a Business Development Professional?
Professional ultimately produce new revenue and aid in a company's expansion, Business Development Professional are the foundation of any successful organisation. But what exactly does the work entail on a daily basis? We investigate in further depth. Keep reading the article to learn more.

What are the primary obligations?

Discovering new business prospects is the main goal. The exact nature of the business will determine what form this takes. To better serve existing markets, though, you'll probably be searching for new markets, collaborations, avenues for accessing current markets, and product or service offers. Then, you'll be required to take advantage of these chances to get extra income. The specifics of how that transpires vary on the sector. A combination of going to events and networking, manning booths at conferences and exhibits, making cold calls, and reacting to leads can be used. Additionally, it's very probable that you'll be asked to look for chances to cross- and up-sell services with partners.

What will my daily activities entail?

Although generalisations might be challenging, most business development managers will be required to:
  • Create leads and make cold calls to potential clients.
  • Create business chances with the aid of marketing in your target markets.
  • cultivating and expanding ties with important client accounts
  • attending meetings with clients in person
  • offering knowledgeable guidance on the goods and/or services you're selling
  • What other facets of the job are there?
Pricing negotiations with clients must follow internal policies. Additionally, you'll need to provide your superiors with realistic forecasts of expected sales while keeping them informed of your timeline and progress. Since this is a sales position, you will be held to sales and KPI targets; this is an essential component of the position. You will be asked to travel, albeit the amount will depend on where the position is based and how important face-to-face customer meetings are. If you work out of London, you might discover that the majority of your meetings take place there. But you could have to travel a lot if your employer is located in the South-East, the Midlands, or the North.

How much can I anticipate making?

According to our salary survey, incomes differ by industry and location. An IT business development manager, for instance, may expect to make between £50 and £70k in the UK's North and between £50 and £75k in the South-East. A B2B business development manager can anticipate earning between £30 and £45k in the North and between £35 and £50k in London and the South-East. But none of these figures include bonuses or benefits; they just reflect basic pay. The real earning potential will be far higher.
What level of expertise and understanding are needed?
You must have a successful sales history in order to land a position as a business development manager. Employing firms specifically look for a demonstrated ability to hit targets. A history of consistently acquiring new business, and — frequently — appropriate sector experience. A strong network of relationships is also regarded favourably.
Final Thoughts
Employers typically seek out individuals who are intelligent, polished, and personal and professional development and who have outstanding telephone manners. A self-driven and methodical attitude is necessary.