A BDM's job is to identify new business opportunities, develop strategies to capitalize on them, and drive revenue growth by building relationships with new clients and managing existing ones. Key responsibilities include researching market trends, generating leads, presenting products or services, negotiating contracts, and collaborating with sales and design teams to meet business goals and expand the company's market position.
Core Responsibilities:
Market & Lead Research:
Identify new business opportunities and prospective clients in targeted markets.
Strategic Planning:
Develop and execute strategies to enter new markets and expand the company's profitability.
Client & Partner Relationship Management:
Build and maintain strong, long-term relationships with new and existing clients and strategic partners.
Sales & Negotiation:
Generate leads, pitch products or services, prepare sales presentations, and negotiate and close new business deals.
Collaboration:
Work with internal teams, including sales and design, to develop new products and services and ensure they meet client needs.
Performance Monitoring:
Monitor sales progress, track revenue, and provide management with feedback on business performance.
Industry Trend Awareness:
Stay informed about the latest developments, trends, and competitors in the industry to identify new opportunities and potential risks.
Key Skills for a BDM:
Strategic Thinking: To identify long-term market opportunities and develop effective growth paths.
Communication & Networking: To build strong client relationships, effectively pitch products, and expand professional networks.
Negotiation: To successfully close deals and manage contracts.
CRM & Data Analysis: To manage leads, track performance, and generate accurate forecasts.
Understanding of Products & Market: A comprehensive knowledge of the company's offerings and its market positioning.