Every company needs new clients and sales leads to expand its business. In a competitive environment it becomes all the more important as everything is fast paced. This is where the business development manager (BDM) comes in, as it is their responsibility to meet the business and financial goals of the company. Generally they have had some experience in business consultancy before entering this job role.
With the booming economy of Bangladesh, there are many new businesses springing up and existing ones are quickly leaping forward. As a business grows, so is its need for business development managers to increase the client base and sales. Bangladesh has become a very attractive place for business development jobs.
Role of a Business Development Manager
The goal of a business development manager is to improve the market position of the company and achieve financial growth. This is achieved by getting new clients on board and generating sales leads. As a business development manager you need to define the long term and short term strategic goals, maintain customer relationships, identify new business, negotiate deals and have thorough knowledge of current market conditions.
It’s also beneficial to be a senior salesperson as one of your objectives would be to meet the financial targets of the organization. You would also need to work with the internal marketing staff and sales team in order to increase sales opportunities and maximize revenue. You would also be needed to help manage existing clients. This is done by identifying their future needs and presenting solutions for those needs.
In the end the main role is to facilitate business for your organization and take the necessary steps to achieve it.
Duties of a Business Development Manager
In order to achieve your goals, you would need to perform a certain set of tasks. Generally speaking, these tasks would include:
Have meetings with the marketing team
Meet new clients and present them the business model
Keep in contact with various managers for a holistic view of the business
Drive “Request for quote” processes with new prospects
Identify and attend tradeshows to keep abreast of developments in the marketplace
Keep a daily update on market trends
Set up meetings with existing clients
Keep a track of progress or regress
Identify opportunities for campaigns, services, and distribution channels
There are various other tasks that are also be done apart from the above. But they tend to be different depending on the sector your organization is present in. The above tasks are the general tasks which need to be performed by every business development manager, irrespective of the sector.
Requirements for becoming a Business Development Manager
To work as a BDM, you would need a significant formal education for the role. A management degree will definitely be helpful. For senior positions work experience is a must but for entry positions, employers might overlook a lack of experience. But in that case a management degree might be a requirement.
If you are a person who has itchy feet and cannot sit behind a desk for long then this job role is perfect for you. As you need to constantly be in meetings and giving presentations to clients. If you are looking for a career where you can progress then applying for business development vacancies in Bangladesh with Everjobs.