What is a Business Development Manager and what do they do?

A Business Development Manager is a professional responsible for identifying new business opportunities and developing strategies to help a company grow its revenue and expand its customer base.

To achieve this, a Business Development Manager typically performs tasks such as:

• Conducting market research to identify potential customers, market trends, and competitive threats.
• Developing and implementing strategies to generate new business leads and opportunities.
• Building relationships with key customers, partners, and stakeholders to promote the company's products or services.
• Collaborating with other departments within the company, such as marketing, sales, and product development, to develop new offerings and improve existing ones.
• Negotiating contracts and deals with customers and partners to secure new business.
• Reporting on sales, marketing, and business development activities to management and stakeholders.
• Cold calling, warm calling, social selling mainly through LinkedIn, online/offline networking.

Overall, a Business Development Manager plays a critical role in helping a company achieve its growth and revenue goals by identifying new business opportunities, building relationships, and collaborating with other departments to drive innovation and improve the company's offerings. Typically, along with a base salary, BDMs have opportunity to double and triple their base salaries through lucrative commission structures.