Career Development

What Does a Business Development Coordinator Do?

Find out what a business development coordinator does, how to get this job, and what it takes to succeed as a business development coordinator.

Business development coordinators are responsible for managing the growth of their company’s business. They commonly work with a team of salespeople or other professionals to coordinate marketing efforts, develop new products and services, and identify new opportunities for growth.

Business development coordinators may also be tasked with developing relationships with potential clients or vendors. This might include scheduling meetings, arranging events, or even handling basic customer service issues that arise as a result of these interactions.

Business Development Coordinator Job Duties

A business development coordinator typically has a wide range of responsibilities, which can include:

  • Developing marketing plans and strategies to increase brand awareness
  • Coordinating with other departments such as accounting, legal, human resources, or IT
  • Presenting proposals to potential clients to secure new business opportunities
  • Researching industries, competitors, or markets for new business development opportunities
  • Coordinating with clients to ensure delivery of high quality products and services
  • Conducting market surveys to gather information about current market conditions
  • Keeping track of accounts receivable and payables, including customer accounts that are delinquent
  • Building relationships with clients to ensure a high level of customer satisfaction
  • Coordinating with internal departments to ensure that client needs are being met

Business Development Coordinator Salary & Outlook

Business development coordinators’ salaries vary depending on their level of education, years of experience, and the size and industry of the company. They may also earn additional compensation in the form of commissions and bonuses.

  • Median Annual Salary: $73,500 ($35.34/hour)
  • Top 10% Annual Salary: $145,000 ($69.71/hour)

The employment of business development coordinators is expected to grow faster than average over the next decade.

Demand for these workers will be driven by the need for companies to expand their geographic reach and increase their client base. Business development coordinators will be needed to help firms find new markets and customers.

Business Development Coordinator Job Requirements

A business development coordinator typically needs the following qualifications:

Education: Business development coordinators are typically required to have a bachelor’s degree in marketing, business or a related field. Some employers prefer candidates who have a master’s degree in business administration (MBA). An MBA is typically preferred for senior business development coordinator positions.

Training & Experience: Business development coordinators typically receive on-the-job training in their role. This training may include learning about the company’s products and services, the company’s workflow and the role’s specific responsibilities. Training may last for a few weeks or months, depending on the company’s needs.

Certifications & Licenses: While business development coordinators do not have any certifications typically required, there are certifications that could help increase your chances of getting a job or advancing your career.

Business Development Coordinator Skills

Business development coordinators need the following skills in order to be successful:

Communication skills: Communication skills are essential for business development coordinators. You use these skills to communicate with clients, colleagues and other professionals in the industry. You also use these skills to communicate complex ideas and information to clients and potential clients.

Relationship building: Relationship building is the process of developing and maintaining connections with others. Business development coordinators use this skill to build relationships with potential clients and other business professionals. They use relationship building to create connections that lead to sales opportunities for their companies.

Negotiation skills: Business development coordinators may be responsible for negotiating contracts with clients or suppliers. This requires strong negotiation skills, including the ability to compromise and persuade others to agree to your terms. You may also be responsible for negotiating salaries for new employees or contract terms for suppliers.

Strategic thinking: Business development coordinators often work with sales teams and marketing teams to develop strategies for increasing a company’s revenue. This requires strong strategic thinking skills, as you need to be able to identify potential revenue streams and develop plans to reach your revenue goals.

Analytical skills: Business development coordinators use analytical skills to assess data and make informed decisions. They use analytical skills to evaluate potential clients and develop strategies to attract them. They also use analytical skills to evaluate the success of marketing campaigns and sales strategies.

Business Development Coordinator Work Environment

Business development coordinators work in a fast-paced office environment, usually in close proximity to other members of the sales team. They may be required to travel to meet with clients or potential clients, attend industry events, or conduct market research. Business development coordinators typically work full time and may be required to work overtime to meet deadlines or attend evening or weekend events. The job can be stressful, as coordinators must juggle multiple tasks and projects at once and often work under tight deadlines.

Business Development Coordinator Trends

Here are three trends influencing how business development coordinators work. Business development coordinators will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Need for a More Strategic Approach to Business Development

The role of the business development coordinator is changing. In order to be successful, they need to take a more strategic approach to their work.

This means that business development coordinators will need to be able to think outside the box and come up with new ways to reach potential clients. They will also need to be able to manage their time effectively so that they can focus on the most important tasks.

More Focus on Digital Marketing

As businesses continue to shift towards digital marketing, the need for business development coordinators who are skilled in digital marketing will increase.

Business development coordinators who are able to utilize digital marketing tools and strategies will be in high demand, as they will be able to help businesses reach new customers and generate leads online. This includes things like social media marketing, search engine optimization, and email marketing.

A Greater Emphasis on Teamwork

The business development field is becoming increasingly team-oriented. As businesses become more globalized, they are realizing the importance of having a strong team of professionals who can work together to achieve common goals.

This trend is leading to an increased demand for business development coordinators who have the skills and experience necessary to work well in a team environment. By understanding how to work with others and communicate effectively, business development coordinators can set themselves apart from the competition and find success in this evolving field.

How to Become a Business Development Coordinator

A business development coordinator can have a variety of roles in their career. They may work for a small company, where they will be responsible for developing new business relationships and closing deals. Or they may work for a larger company, where they will be responsible for managing existing business relationships and ensuring that the company is meeting its sales goals.

No matter what role they are in, business development coordinators must be able to build relationships with potential customers and understand their needs. They must also be able to sell products and services effectively.

Related: How to Write a Business Development Coordinator Resume

Advancement Prospects

The Business Development Coordinator is responsible for generating new business opportunities to support the growth of the company. This role is typically entry-level, and as such, there is room for advancement within the position. With experience, a Business Development Coordinator can be promoted to a Business Development Manager or Director. In these roles, they will be responsible for leading a team of Business Development Coordinators and overseeing the entire business development process. Those with significant experience may also be promoted to a Vice President or Chief Business Development Officer role.

Business Development Coordinator Job Description Example

The Business Development Coordinator is responsible for generating new business opportunities to support the growth of the company. This role will work closely with the Business Development Manager in the planning and execution of business development initiatives and will be responsible for conducting market research, identifying potential customers, and scheduling appointments and meetings. The ideal candidate will have excellent communication and interpersonal skills, be highly organized and detail-oriented, and have the ability to work independently. This is an excellent opportunity for a motivated and ambitious individual who is interested in pursuing a career in business development.

Duties & Responsibilities

  • Develop and maintain a database of potential clients for the sales team
  • Research and develop targeted lists of companies and contacts within those companies that may be interested in the products or services offered
  • Assist in the creation of sales and marketing materials, including presentations, proposals, website content, and other collateral
  • Help coordinate trade show logistics, travel arrangements, and meeting schedules for the sales team
  • Serve as the first point of contact with potential customers, responding to inquiries and directing them to the appropriate salesperson
  • Attend industry events and networking functions on behalf of the company
  • Develop and manage relationships with key partners and vendors
  • Conduct market research to identify new business opportunities and trends
  • Monitor competitor activity and keep abreast of industry news and developments
  • Prepare reports for senior management on business development activities and progress against objectives
  • Manage the administrative tasks associated with the business development process, such as maintaining records, generating correspondence, and scheduling appointments
  • Perform any other duties as assigned by the manager

Required Skills and Qualifications

  • Bachelor’s degree in business, marketing, or related field
  • 2-4 years professional experience in sales, marketing, or customer service
  • Excellent written and verbal communication skills
  • Strong organizational skills and attention to detail
  • Ability to work independently and with a team to meet deadlines
  • Proficient in Microsoft Office, with aptitude to learn new software and systems

Preferred Skills and Qualifications

  • Previous experience in business development or lead generation
  • Experience with CRM software, such as Salesforce
  • Familiarity with market research tools and methods
  • Solid understanding of the sales process
  • Creative thinking and problem-solving skills

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