Career Development

What Does a Senior Business Development Manager Do?

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

Senior business development managers are responsible for developing and executing strategies that help their company grow. They commonly work with a team of other professionals to develop new products or services, expand into new markets, or otherwise increase the value of the company’s offerings.

Senior business development managers must be able to effectively communicate their ideas to both technical and non-technical audiences. They may also need to manage multiple projects at once while ensuring that each one meets its individual goals.

Senior Business Development Manager Job Duties

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

  • Developing and executing marketing strategies to promote the organization’s products or services to new customers
  • Participating in strategic planning sessions with senior management to identify business opportunities and develop plans for growth
  • Presenting proposals to clients that outline pricing terms and other details of working together with the client
  • Studying the client’s industry to determine which products or services would be most beneficial for them to offer
  • Meeting with existing clients to determine whether they are satisfied with the company’s services or products and whether they have any suggestions for improvement
  • Working with members of the sales staff to develop new strategies for selling products or services to clients
  • Developing and managing long term relationships with clients to ensure continued satisfaction with the company’s services or products
  • Tracking client activity to ensure that they are following through on their commitments to use the company’s products or services
  • Developing proposals for new clients that explain why the company is an ideal partner for them

Senior Business Development Manager Salary & Outlook

Senior business development managers’ 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: $115,000 ($55.29/hour)
  • Top 10% Annual Salary: $216,000 ($103.85/hour)

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

Demand for these managers will be driven by the need for companies to expand their geographic reach and increase their revenue. As firms seek to enter new markets, they will need to hire senior business development managers to help them navigate the complexities of entering new markets.

Senior Business Development Manager Job Requirements

A senior business development manager typically needs the following qualifications:

Education: Senior business development managers are typically required to have a bachelor’s degree in marketing, business or a related field. Some companies prefer to hire senior business development managers with a master’s degree in business administration (MBA). An MBA is a two-year program that includes coursework in finance, accounting, marketing and management.

Training & Experience: Senior business development managers often have at least 10 years of experience in a related role. They may have started as a business development manager and worked their way up to senior business development manager. They may have also worked in a related role, such as a sales representative or a marketing manager.

Senior business development managers often receive on-the-job training in the form of mentorship from a senior manager or a director. They may also receive training in the form of seminars or conferences.

Certifications & Licenses: While you don’t need a certification to become a senior business development manager, earning one can help you develop the skills you need to succeed in this role.

Senior Business Development Manager Skills

Senior business development managers need the following skills in order to be successful:

Communication: Communication is the act of conveying information through a medium. As a senior business development manager, you might be responsible for communicating with clients, colleagues and other stakeholders. Effective communication can help you build trust, develop relationships and persuade others to take action. You can use communication skills in a variety of ways, including in-person, over the phone and through email.

Relationship building: Relationship building is the process by which you develop trust and understanding with others. As a senior business development manager, you may be responsible for managing a team of sales representatives. This means you need to be able to develop strong relationships with your team members so you can work together effectively. Relationship building can also help you develop strong connections with clients and other business partners.

Negotiation: Negotiation is the process by which two parties come to an agreement. As a senior business development manager, you may be responsible for negotiating contracts with suppliers or clients. You may also be responsible for negotiating salaries for new hires.

Strategic thinking: Strategic thinking is the ability to identify goals and develop plans to achieve them. Senior business development managers use strategic thinking to develop effective sales strategies, create marketing campaigns and develop proposals for contracts. Strategic thinking also involves the ability to identify potential challenges and develop solutions to overcome them.

Industry knowledge: Senior business development managers have extensive knowledge of their industry and the companies they work with. They understand the challenges companies face and how to overcome them. This knowledge helps them develop effective strategies for generating revenue and increasing market share. Senior business development managers also have knowledge of the latest marketing trends and how to apply them to their work.

Senior Business Development Manager Work Environment

The work environment for a senior business development manager is usually in an office setting, although travel may be required for meetings with clients or potential clients. The job is typically full-time, and the hours can be long and irregular. Overtime is often required, and the job can be stressful, as managers must meet deadlines and quotas. Senior business development managers must be able to work well under pressure and be able to handle multiple tasks simultaneously. They must also be able to think creatively to solve problems and develop new business opportunities.

Senior Business Development Manager Trends

Here are three trends influencing how senior business development managers work. Senior business development managers 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 More Technical Skills

As businesses become more technical, the need for senior business development managers with technical skills will increase.

Senior business development managers are responsible for developing and maintaining relationships with potential clients, and they often need to be able to understand the technical aspects of a product in order to sell it effectively. By developing these skills, senior business development managers can better serve their clients and help them achieve success.

The Importance of Digital Marketing

Digital marketing is becoming increasingly important as businesses move towards a more digital-first approach. This means that senior business development managers will need to have expertise in digital marketing strategies in order to be successful.

By understanding how to use digital channels such as social media, search engine optimization, and email marketing, senior business development managers can reach a wider audience and drive more traffic to their company’s website. In addition, they can also use digital marketing to track the effectiveness of their campaigns and make changes as needed.

More Collaboration Between Sales and Marketing

In recent years, there has been an increasing trend towards collaboration between sales and marketing teams. This is due to the fact that both teams are now responsible for the same goal: driving revenue.

As a senior business development manager, you should be prepared to work closely with your marketing team in order to create effective campaigns that will resonate with your target audience. Additionally, you should be able to communicate with sales representatives about what types of leads are most likely to convert into customers.

How to Become a Senior Business Development Manager

A career as a senior business development manager can be very rewarding. It offers the opportunity to work with a variety of people and businesses, develop new relationships, and see your ideas come to life.

To become a successful senior business development manager, you need to have a strong understanding of your industry and its trends. You also need to be able to identify opportunities for growth and create strategies to capitalize on them. And finally, you need to be able to sell your ideas effectively and build strong relationships with key stakeholders.

Related: How to Write a Senior Business Development Manager Resume

Advancement Prospects

The best way to advance in a career in business development is to gain experience and knowledge in the field. Many business development managers start out in entry-level positions and work their way up the corporate ladder. As they gain experience, they may move into more senior positions with more responsibility. Those who are especially successful may eventually start their own business development consulting firms.

Senior Business Development Manager Job Description Example

The Senior Business Development Manager is responsible for developing and executing [CompanyX]’s business development strategy. This role is responsible for identifying and developing relationships with new customers and partners, as well as expanding relationships with existing ones. The Senior Business Development Manager will work closely with other members of the executive team to identify and assess new business opportunities, and will be responsible for developing and presenting proposals to potential customers and partners. This role requires excellent communication and negotiation skills, as well as the ability to think strategically and execute tactically. The ideal candidate will have at least 10 years of experience in business development, with a proven track record of success.

Duties & Responsibilities

  • Develop and execute business development plans to identify and secure new business opportunities that align with the company’s strategic objectives
  • Research and build relationships with potential customers, partners, and other stakeholders
  • Negotiate and close deals that result in profitable new business for the company
  • Serve as a primary point of contact for assigned accounts, managing all aspects of the relationship to ensure customer satisfaction
  • Develop and deliver presentations and proposals to prospective customers
  • Attend industry events and trade shows to network with potential customers and partners
  • Stay up-to-date on industry trends and developments to identify new business opportunities
  • collaborate with internal teams to develop customized solutions for prospective customers
  • Manage the entire sales cycle from prospecting to close
  • Maintain accurate records of all sales activities in CRM software
  • Generate monthly reports on sales activity and pipeline status
  • Achieve quarterly and annual sales targets

Required Skills and Qualifications

  • 10+ years in sales, business development, or related field
  • Proven track record of achieving quotas and goals
  • Strong understanding of the sales process
  • Excellent communication, negotiation, and presentation skills
  • Ability to work independently and with a team
  • Proficient in Microsoft Office, with aptitude to learn new software and systems

Preferred Skills and Qualifications

  • Bachelor’s degree in business, marketing, or related discipline
  • 5+ years in management role
  • Experience developing and executing business strategy
  • Working knowledge of CRM software
  • Demonstrated success in building and managing a sales team

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