Business development managers play a critical role in expansion and growth of organizations and hence there is a high demand for experienced and skilled professionals who can help the businesses in achieving greater heights.
The Growing Demand
In the present economic scenario, almost all major brands are scanning strategic locations with respect to their major expansion plans. It is indeed an action oriented role, for eager beavers who have the ability to track business leads, comprehend the products and services and develop an efficient process for ramping up the sales.
Business development skills have been a prominent requirement in job advertisements across several occupations. The typical industries where business development managers find work are insurance agencies and brokerages, commercial banking, accounting firms and many more.
The Job Functions of a Business Development Manager
Out of the array of job responsibilities, their primary job duty is to generate and follow up business leads, bring in more clients and other business proposals.
Besides, business development manager, is required to build partnerships and business relationships with other companies, vendors, and so on to add weight to the products and services. Another important duty of business development managers is to seek out new clients and keep tabs on the existing clients and their requirements.
They also work in collaboration with the product managers and marketing team in the development and implementation of the strategies, plans and business models. The job roles of these professionals may vary from company to company. Like for example, they may be required to formulate financial predictions for expansion and growth of the company.
What Do Employers Seek In Job Applicants?
Like any other job profiles, this profile too needs an array of skills-set and some specific personality traits to land in a job. In-depth industry knowledge, networking skills, marketing, sales, enthusiasm, ability to achieve sales targets, communication and presentation skills, researching and prospecting abilities, decent understanding of business models, customer orientation and multitasking skills.
Benefits and Bonuses
The complete package of benefits, generally provided in this position are listed below, take a look-
· Paid sick leave
· Relocation reimbursements
· Life insurance
· Paid vacation
· Private medical insurance
A Well Paying Job!
The salary depends on the factors like industry, company size, location, years of experience and academic credentials. As per the payscale site, the average salary package of business development manager is Rs. 5,82,211 per year. The top skills associated with such jobs are account management, sales, negotiation and business strategy.