business-development

What is business development?

Nowadays a lot of companies do not know what business development is. Business development manager is one of the most important people in the company. But what exactly business development is, and why you need business development manager in your team? I will try to answer this question in the best way possible.

What is business development?

Business development is all activities which are about to develop a long-term value for the business in many aspects. And “long-term” is a key. Business development is not about closing the deal. It’s rather to find some solutions for closing more deals in the long-term. This is why business development has to be combined with all company’s departments. Marketing, sales, IT, purchase, management board, should all work together.

Business development is about developing marketing and sales strategy that bring more sales of products/or services in the long-term. It’s all about developing long-term value.

Business development manager is not a salesman!

business development manager

Most of the people think that business development manager is a salesperson. They are wrong. Salesperson is a man(or woman) who sells goods to the clients. Salesperson effectiveness is measured by an amount of closed deals during specific time period.

Business Development Manager is rather responsible for the long-term revenue. And of course, he is not a salesperson. If you are a business development manager you can share this post with your boss, so he can be sure what to expect from you.

What does a business development manager do?

So, what does a business development manager do? Business Dev looks for the new opportunities to bring more sales to the company. And as mentioned above business development manager cooperates with all company’s departments. He develops solutions and integrate tools which will be filling the pipeline with the leads constantly.

To give you better understanding what I mean by cooperation with all company’s departments I will show you some examples. Below you will find how business development manager may cooperate with specific department of the company.

What does a business development manager do inside organization?

Marketing

Business Dev develops a marketing strategy to reach the customers in the right way. He is involved in the process of website development for the specific product. It all depends on the client persona. He is focused on improving SEO, so the company’s website could be found. He coordinates the social media posts just to extend product or service awareness in the right way. Business Dev develops landing pages and he integrates marketing tools like Google Analytics, Mailing lists, Social Media Ads, and so. He is responsible for building strong relationships with bloggers. He is finding the right websites for guest posting or advertisements.

Sales

Business Development manager together with sales set up goals to be achieved in the specific time period. He is involved in sales strategy development. Business dev is filing salespeople’s pipelines with leads. He is setting up the tools which will be booking the meetings for the sales like chatbots, booking pages, and so.

organization structure

IT

He is involved in business process automation development in many aspects, especially by proper integration of the apps needed to achieve marketing and sale goals. He coordinates development and integration of the CRM. Beside he integrates chatbots, webforms and mailing lists with the CRM.

Purchase

Constant communication with the purchase department is really important. Why? Because during the business development process a lot of things have to be bought. Paid advertisements, specific software, specific hardware. Sometimes purchase could be really expensive, especially when business development manager has to find new markets abroad.

Management board

Business Development Manager is collecting data and reports to the management board. Management board has to see business development effectiveness constantly. Business dev reports about many aspects like amount of closed deals, website traffic grow, marketing activities effectiveness, or cost spent.

What does a business development manager do inside organization?

These are only what does business manager do inside company. But there are also a few aspects that business development manager has to cover outside the organization like long-term value, customers, markets or relationship.

Long-term value

Business development manager is always focused on long-term value. All business dev activities are about to develop long-term value in many aspects. It could be leading company sales into new markets abroad, extending brand awareness, bringing more traffic to the company’s website, or implementation of lead generation tools which will be filling the sales pipeline every day.

Customers

Focusing rather on inbound marketing activities business development manager will be using the most effective digital marketing tactics. He coordinates high-quality content development which magnets the clients. It is really important to develop high quality content because it is strengthening the trust between customer and the company. And the trust is a base for the long-term relationship with the clients. Business development manager is not only a salesperson. He will be focused on giving the clients positive experience in the all areas like company’s online presence, customer service, easiness in communication between client and the company, or so.

Relationship

Relationship between everybody inside and outside the organization. Business development is responsible for developing strong relationship between clients and company’s employees. Everybody has to trust business development manager because this is the only way to do the right job. Nothing will be achieved if there is no trust. This is why – especially at the beginning – business dev job is not easy. Before he starts doing the right job, he has to build the trust. In most situations hiring a business development manager could turn the company marketing and sales activities upside down. This is totally normal. Especially at the beginning no one trusts business development manager. But this situation may change by showing small positive effects of sale and marketing activities. And once the trust occurs then the business will start to grow.

relationship

Markets

Management board has to decide what market company wants to quest. Depends on the market, sales and marketing activities may differ. But the idea is that business development manager is focused only on this specific market. For example, if the company is hiring him to focus on getting clients abroad, he will be not doing any activities on the local market.

Why you need business development manager?

If you still reading, you know why you need business development manager. This position is really important for the business grow. If company decides to start the quest for the new markets business development manager will be needed for sure.

Who is the best business development manager?

Who is the best business development manager? How to hire the right one? Hiring the right people is always tough. In my opinion the best business development manager will be a person who has experience in running its own company in the past. Why? Because only this type of person will be able to combine all company’s departments together.

People who are leading their own companies have to be well-skilled in many aspects like marketing, sales, management, relationship. And the best business development manager has to have the knowledge in all these aspects. Of course, it is difficult to find an employee who was leading its own company in the past. But it’s possible!

If you cannot find the people who were leading their own businesses successfully you can always hire somebody different. But remember to be sure if that person has experience in mentioned aspects like marketing, sales, management and relationship.

How much does a Business Development Manager make?

business development manager salary

The right answer is – always too less! According to responsibilities and the long-term value, these types of managers should be paid more. The salary differs depends on company size and location.

According to payscale.com business dev average salary is $72,488.

Summary

Business development is so important if you care of your company’s growth. Hiring the right business development manager could be challenging but it is possible. If you already have hired one, after reading this article you know what should you expect from his work. If you are a business development manager and your boss thinks that you are a salesperson, you know have solid knowledge to proof him wrong.