What Can a Business Development Manager Do for Your Business? | Magic Assistant Blog

What Can a Business Development Manager Do for Your Business?

Li Ramos
Li Ramos
July 8, 2022
business development manager

If you ask what business development is, you’ll get different responses. A portion will say it’s sales, some will say strategic partnerships, and others will say business planning. And all of them are valid—business development extends to several aspects of the business.

Ultimately, business development refers to the ideas, initiatives, and activities that help a company find opportunities for growth. This includes boosting profitability, lowering costs, expanding the business, building a network, and making strategic decisions to reach goals.

With different departments influenced by business development, it’s important to establish collaborative communication and action to align and meet business goals. A business development manager (BDM) can oversee the scope of strategies to create long-term value for a company from its customers, markets, and relationships.

What is a Business Development Manager?

A business development manager plays a critical role in the success of a business. They identify business opportunities (e.g. growth areas, trends, new markets, customers, products or services, partnerships) to develop tactics so the company can profit more from their business.

Business development manager working from home

To successfully oversee business development strategies, a BDM should have leadership, communication, and organizational skills, as well as knowledge in sales, business studies, finance, and negotiation. Technical skill in software and websites, such as Salesforce, Hubspot, and LinkedIn, is also crucial to efficacy in a business development role.

Business Development Role in Different Aspects of Business

A business development manager has a wide range of duties since they essentially help make the company function better. This means their tasks vary for each department within the company.

Here are business development manager responsibilities for different business areas:

Business Planning

In planning, the business development role is involved in fleshing out the objectives and methods of the company to drive the work of different departments. Some of the responsibilities of a BDM include:

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Sales

Since the business development manager aims to help the company to earn more, they have a lot of responsibilities in sales. These include:

Market Development

Market development targets new customers in new target segments and non-buying customers in existing segments. The business development role takes on these responsibilities:

Magic Business Development Manager

Partnerships and Networking

Growing your network and building strategic partnerships provide opportunities for cost-saving, vendor management, and even market penetration. That’s why a business development manager has related responsibilities such as:

Add Magic to Your Business Development Strategies

Outsourcing is a cost-efficient way to boost the productivity and efficiency of your team to get more sales and, in turn, revenue. Magic provides skilled virtual assistants who can help you in the ideation, implementation, and execution of your business development ideas.

A Magic Assistant is a remote worker who can take on a wide range of business functions including a business development role. They can assist your team with administrative tasks in business planning, research and data work in market development, finding and pursuing leads in sales activities, and building and managing relationships for partnership and networking.

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