A Business Development Manager is the driving force behind generating new sales leads and contacts. BDMs will follow up new business opportunities and set up meetings, communicating new product developments to prospective clients, and attend networking events to build up new contacts.
The financial rewards of this role can be huge with many BDMs working on bonus-related pay, so its a sought after role!
What makes a good Business Development Manager?
Successful BDMs will be great communicators, fantastic at networking, and have strong sales skills. The role can be fast paced, stressful at times, and can require you to work longer hours and travel to see potential clients.
Skills of a Business Development Manager:
- Good business sense and a commercial approach
- Understanding of marketing principles
- Strong communication skills
- A positive attitude
- Excellent negotiation skills
- Initiative and resilience
- The ability to prioritise
Working as a Business Development Manager can enable you to progress into being a Senior Business Development Manager, or a Marketing Manager. Because the role allows you to develop so many skills you can move horizontally into other areas of the business or other industries - this could inlcude project manager, sales, or marketing.
Money and Benefits:
As BDMs are often on commission and/or bonus, some of the basic salaries can be lower than expected. As a BDM with no experience you may expect to have a basic salary of around £18,000. However earnings can reach over £100K for Senior BDMs when they start to reap the rewards of their hard work.
Due to the level of travel needed to see prospective clients, you may also get a company or car allowance.