If you are looking at applying for jobs as a business development manager, it is of prime importance to know all about this job role. Here in this article you will find all the essential information, that holds the key for a steady career in business development.
Business development managers are hired in an organization for the purpose of meeting business targets which include the business development and marketing plans. This makes the role of a business development manager a multidisciplinary role taking care of the sales and marketing aspects of a business. Apart from sales and marketing operations, business development managers also oversee strategic partnerships, mergers and acquisition. They act as an interface between the company and the partners, for the purpose of account management and strategic planning to develop a strong relationship for mutual growth. They also need to identify potential markets, clients or customers, which is dependent upon the business they are employed with. Keeping abreast of developments in the marketplace, attending trade fairs, and exhibitions; are the other set of responsibilities that are a part of this job role.
Skills that will take you further
Since, business development managers act as an interface, the skills set they need to arm themselves with are quite diversified. To begin with, key skills in marketing, sales and strategic planning are a must. Apart from that a business development manager must be skilled at facilitating and orchestrating resources cross functionally to support sales effort, the approach to all initiatives need to entrepreneurial. Market research, proficient verbal and written communication, ability to analyse market data and comprehend the data into meaningful information to drive sales and growth. Networking, efficient interpersonal skills and the confidence to approach potential clients or customers will make your prospects touch the roof, allowing you an entry in an business development manager job profile.
Salary for entry-level positions
Entry-level business development managers, are offered salaries on the basis of their education qualification, experience and the institution attended. If you posses a degree in management, your annual remuneration would be higher than that of a graduate. With the right skills, qualifications and experience your annual remuneration is likely to be around Rs 400,791. Some other benefits and performance based incentives, are also offered which is entirely dependent on your employer. As for those with a graduate degree and experience, an entry-level role in this job role will make your annual earning potential to remain anywhere around Rs 2- 3 Lakh, which shall be revised periodically as you grow in this career domain.
Demonstrating the existence of the above mentioned skills in your being, holds the key to get hired as a business development manager. Maintaining a momentum in your performance, by acquiring skills and experience will allow you to take your career to the next orbit for a deep-rooted career as a business development manager.