Business Development Manager

Types of business management

Business development can be applied to almost all types of business, but you may choose to specialise in a certain sector, such as:

• education
• healthcare
• IT
• manufacturing
• telecommunications.

Alternatively, you may work across many different businesses, but with a specific focus on either:

• B2B (business to business)
• B2C (business to consumer).

Responsibilities

As a business development manager, you'll need to:

• identify new business opportunities - including new markets, growth areas, trends, customers, products and services
• seek out the appropriate contact in an organisation
• generate leads and cold call prospective customers
• meet with customers/clients face to face or over the phone
• understand the needs of your customers and be able to respond effectively with a plan of how to meet these
• think strategically - seeing the bigger picture and setting aims and objectives in order to develop and improve the business
• work strategically - carrying out necessary planning in order to implement operational changes
• draw up client contracts - depending on the size of company, this task may be completed by someone else or agreements may not be as formal
• have a good understanding of the businesses' products or services and be able to advise others about them
• ensure staff are on board throughout the organisation, and understand the need for change and what is required of them
• train members of your team, arranging external training where appropriate
• discuss promotional strategy and activities with the marketing department
• liaise with the finance team, warehousing and logistics departments as appropriate
• seek ways of improving the way the business operates
• attend seminars, conferences and events where appropriate
• keep abreast of trends and changes in the business world.

If your business development role is more sales orientated, you may also do some or all of the following:

• help to plan sales campaigns
• create a sales pipeline
• negotiate pricing with customers, and suppliers in some cases
• carry out sales forecasts and analysis and present your findings to senior management.

Salary

• Your starting salary as a graduate business development manager will be in the region of £22,000 to £25,000.
• At mid-management level with several years' experience, you can expect to earn £30,000 to £60,000, averaging at £37,500 depending on the region and sector you work in.
• As a senior business development manager or business director, it's possible to earn around £80,000.

Salaries are affected by regional variances, and pay is generally higher in London and the South East. The sector you work in is also a determining factor - for example, an IT business development manager may earn £70,000, whereas a B2B manager may be on significantly less at around £40,000.

It's common for bonuses to be paid and these can be very large, sometimes matching your annual salary. Jobs are often advertised with a basic salary and a higher on-target earnings (OTE) figure. Other benefits may include a pension, healthcare scheme membership and company car.

Income figures are intended as a guide only.