IT Business Development Manager’s Career- Responsibilities and Requirements
A talented business development manager is a valuable asset for the IT companies generating new sales leads and contacts. The business development managers help an organisation to identify new opportunities, acquire new them and generate revenue. The managers use in-depth knowledge of businesses to evaluate current marketing opportunities and research specific target customers. On the basis of their researches, they suggest what changes to make in the current performances. This position requires a person who can identify business opportunities, possess sales experience and can successfully close deals.
Some of the duties of these managers are similar to the tasks performed by market researchers. Like market researchers, business development managers have to gather information about target customer trends and tastes. However, the roles of business development managers differ from that of market researchers as they have to implement the collected data for the growth of business.
They analyse the accumulated data and if the result seems favourable for the business they initiate a project on its basis. They supervise the outcome of such activities. They monitor market activities and find out when actual sales follow or deviate from established business models. These models are created by managers and they make alterations if faults or discrepancies arise.
Business development managers always try to attract new customers; sometimes they approach completely a new target market. In order to attract new customers the managers design impressive presentations and take part in the negotiation process.
Key responsibilities of business development managers
As a business development manager you will have to identify sales leads, present an overview of IT services to new clients and maintain good relationship with existing clients. The typical duties of these managers include:
- Determining new business opportunities and setting up meetings
- Working on the business opportunities and preparing the presentations
- Communicating the services to prospective clients
- Performing research on markets, customer behaviour and competition
- Relying on quantitative and qualitative techniques to collect useful information
- Supervising company’s financial resources and efficiently allocate them
- Liaising with other professionals in the companies
- Networking with potential customers
- Providing top management feedback and suggestions
An IT business development manager requires a master’s degree in business management. It is considered as an ideal combination if the individual possesses a bachelor’s degree in computer science or Information Technology (IT) along with a master’s degree in business management. However, only degrees will not help an individual to achieve this managerial position. As these professionals are involved in crucial decision-making processes, most employers prefer those with relevant experience and expertise. Those who have remained managers in the field of sales, marketing or accountancy have a better opportunity to achieve this business development manager position.
IT business development managers require certain skills to perform their duties successfully. These are:
- Effective leadership skills
- Customer service skills
- Excellent communication and interpersonal skills
- In-depth business knowledge
- Negotiation skills
- Flexible approach
- Ability to follow the objectives and goals firmly
- Analytical skills
- Problem solving skills
IT business development managers usually work in an office environment. They have to sometimes visit branch offices and visit other locations to carry-on their researches. Business development managers in IT companies have to travel to foreign countries to explore opportunities in international markets. The job is challenging but hardworking individuals find this career rewarding.
Business development managers are an integral part of businesses and therefore there will always be a requirement for these skilled professionals. Many IT business development managers prefer to specialise in one particular area after a few years in sales jobs. They may focus on a particular department or move into consultancy and provide advices to the company. Most business development managers set up their own business once they have gained adequate skills and expertise.