Management Business Development – As long as you know the mechanics of making a sandwich, you can understand the relationship between business development managers and salespeople.
The slice of bread on the left represents your company. The bread slice on the right represents the market you are trying to reach.
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A topping is what you use to make the sandwich delicious – it could be ham and cheese, peanut butter and jam or many other ingredients. Working closely with those on the product and marketing teams, the business development manager ensures that the sandwich is irresistible and attracts the hungriest eaters.
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The salesperson builds on what the business development manager has done and makes it clear why someone would want to eat this particular sandwich. They metaphorically bring the two slices of bread together – or literally, they focus on closing the deal.
When small or medium-sized businesses (SMBs) are first starting out, one or a few people may cover both business development and sales at the same time. Maybe even the founder or owner of a company.
Most entrepreneurs understand that they will need to hire more people as their company begins to grow. Sales is an obvious place to start, as it is as well known as marketing. “Business development” can seem a little less obvious as a specific task.
The CEO or senior management of the company may want to closely monitor business development activities and provide guidance along the way. But they also have to monitor many other areas, which means there is a risk that business development will not get the attention it deserves.
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Whether or not you outsource a business development manager role will depend on where you are in your journey as a company, the competitive landscape you face and the types of products and services you offer. sell
Ultimately, the decision to split business development and sales should be about the customer experience you want to provide—one where you approach customers in the most appropriate and thoughtful way possible.
If you are lucky enough to have one of those products or services that seems to sell itself, your priority should be to hire enough agents to manage the demand and the keep all orders well organized as they flow in. being a very rare situation, however.
It usually takes a lot of effort to get people interested in your products and services, and open to a conversation with a sales representative.
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Business development managers can bring depth and level of detail to lead generation so that closing is much smoother. They can work to ensure that all products and services have a clear value proposition, that the target goals are clearly defined and that the right channels are used to generate leads.
A sales rep shouldn’t have to spend much of their time worrying about whether there is a good product market fit between your offers and the leads they talk to, That’s a business development activity. If you’re not getting enough leads, or the right leads, hire a business development manager.
The most successful companies turn their CRM into the heart of their organization, where the data collected and analyzed there can help inform the most important decisions they make. If the data in the CRM isn’t of the right quality, however, or if there isn’t enough to work with, everyone’s job is going to be that much harder.
When sales reps also handle business development activities, it means there may be a lot of additional data they need to capture and collect. This includes all data on qualifying leads, prospecting and initial outreach they may do.
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By having a business development manager assigned to these tasks, they will be in a better position to add a much richer database to the CRM. This in turn helps the sales rep to focus on capturing data on customer complaints, budgets and the various contacts on the buying committee.
Most sales reps are asked to reach a certain quota every quarter or even every month. If they’re not hitting it, think about the time they might need to spend on business development activities versus showing customers results, fine-tuning a proposal and closing. . Maybe their workload is going on.
A business development manager usually does not have a quota because they are not very business oriented. But they could provide goals regarding the volume of leads they generate, the quality of those leads or how they can use data more effectively to streamline the sales process for agents.
You should also think about the goals and metrics in other departments. Marketing teams, for example, should be closely linked to the sales team but there is often a sense that reps feel too busy to get into the weeds of lead generation and qualification. A business development manager can be a way to close these functional departments.
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One final thought: consider the skills and career goals of the team you have today. There may be agents who are great at closing a client once they get the chance to be in front of them (even if it’s via video conference). They like to talk about products and services when they feel confident about what they are pitching.
That same rep may not like to make cold calls or find other ways. They may dream of managing other agents one day.
Elsewhere, you might have someone who loves to make airworthy props, who thinks endlessly about your ideal customer profile and is a born researcher. A career path for this person, if they get to work in a designated business development role, may be to take on more of a technology or analytics role.
You have to have some level of business development and sales in every company. Perhaps the time to commit resources to each area is when you begin to accelerate your path to growth. Powered by technology and driven by heart, our mission is to move Africa forward by creating economic empowerment for all along the retail supply chain.
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We specialize in field sales and distribution automation for consumer brands in Africa and emerging markets, with the aim of solving the last mile distribution challenge.
MarketForce is looking for a master of networking with a knack for building and nurturing strong relationships. With good communication and interpersonal skills to fill the role of Business Development Manager.
In this role, you will identify new business opportunities and acquire new clients to generate revenue, while maintaining existing accounts for the MarketForce Product Line (Financial Services business). Your work may involve careful strategic planning and positioning in the financial services industry.
– Key account management or customer success management, preferably in technical companies selling Saas/B2B software products and/or in the Financial Services industry (especially microfinance, insurance, credit companies, retail banks )
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– In B2B sales or business development, preferably in technical companies offering Saas/B2B software and/or in the Financial Services industry (especially microfinance, insurance, credit companies, retail banks)
Please send your resume to [email protected] on or before Friday June 25, 2021, 5PM EAT. Clearly mark the subject line as BDM-FS. The business development manager is responsible for growing businesses by finding and exploring new leads, establishing relationships with the most suitable clients, and coordinating meetings between managers and salespeople.
The BDM is also responsible for maintaining client success with existing clients, exploring ways to grow those accounts, and identifying new untapped sources of business.
While not every team will be ready to hire for this role—startups, for example, may not yet be in the budget—the business development manager can be a valuable asset to your sales team. In this article, we’ll go over everything you need to know about the role, including what they do, what skills they need, and how to for you to be one.
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The business development manager’s responsibilities include focusing on prospecting and generating high-quality leads, arranging meetings and demos for salespeople, and nurturing existing accounts already to create long-term, scalable value.
The business development manager—or, in some cases, a full business development team—audits prospective target accounts. They follow the most appropriate leads and nurture them until they are ready to meet a sales professional.
The person in the role of business development manager is also responsible for researching and creating new opportunities within new markets. This could mean that your company has developed a new product, but it can also refer to researching and acquiring new customers within the same market.
BDMs are key players in strategic planning and creating long-term value for their companies. They must have a thorough understanding of the target market, including business, company and project details, internal contacts and decision makers, and the sales methods and strategies most likely to to respond to each of them.
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They must also have their finger on the pulse of the competition, providing sales managers and agents with up-to-date competitive analysis and current company positions.
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