Business Development Manager
Business Development Manager
The Market/Business Development Manager is responsible for formulating growth strategies that measurably improve the business’ market position, drive differentiated customer experiences and achieve financial growth in a particular end customer segment. The role will combine market intelligence, data-driven insights and a deep understanding of customer needs to identify trends, “white space” opportunities, and develop areas of competitive advantage to drive revenue growth:
- Serve as a market segment expert, understanding both the broad landscape of the market as well as the granularities of it, including the key players, competitive threats, and levers for success.
- Drive customer intimacy and brand value by defining and segmenting needs, pain points, buying behaviors, and preferences.
- Collaborate with different groups to design and execute strategies that generate demand and drive growth through customer acquisition, retention, and win-back.
- Identify and build the case for the big “strategic bets” for growth in the category, including product development opportunities, expansion in to adjacencies, cross-selling and upselling potential, and new business models.
Essential Duties/Principal Responsibilities:
In collaboration with marketing communications, product management and sales colleagues:
- Sources and interprets multiple and complex data sets (from internal and external sources) into insights that lead to profitable business actions.
- Produce a robust multi-year “Market Map” based on identification of under-served customer markets, monitoring of industry trends and high-growth, attractive market/technology drivers.
- Regularly gathers and analyzes business, market and competitor information and supports the development of the strategic marketing plan.
- Leads Voice of Customer programs to solve strategic growth questions for the business and sense for latent customer needs.
New Business Development:
- Develops go to and get-to market strategies for existing products/applications/markets in geographies where market share is low compared to goals and/or are targeted areas for growth.
- Works closely with the Demand Generation Manager to develop targeted lead generation and brand building marketing campaigns that can be directly attributed to revenue growth.
- Identifies potential market adjacency opportunities.
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- Works with channel partners to build their business.
- Partners with sales to identify strategic accounts and provide insights, training, or other support as needed.
- Performs thorough assessments of the potential for specific new target markets and technology opportunities and develops go-to and get-to market strategies to pursue these opportunities
- Builds industry and customer alliances and participates in industry/trade organizations.
- Identifies potential business partners and scouts for M&A opportunities.
- Develops content for and/or participates in training events for customers and sales organization.
- Demonstrates thought leadership by presenting in industry seminars, leading webinars and publishing white papers.
(Job Function specific; simplified list with link to full description by Career Stage in MyHR.)
- Continuous improvement mindset
- Cross-boundary collaboration
- Intellectual curiosity
- Inspiring accountability
- Analysis and synthesis
- Customer and market analysis
- Influence and persuasion
- Market strategy and planning
- Sales enablement
Click here to see detailed proficiency level by Job Function and Career Stage.
- External: Customers, third party partners, industry associations
- Internal: Marketing, Product Management, Sales, Service, R&D
Qualifications: Education, Experience, Skills, Abilities, License/Certification:
Minimal education & experience, essential skills & abilities and required license/certification to perform this job.
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- BA or BS in Marketing, Business or Engineering
- 8-15 years of related experience.
- Excellent interpersonal and communication skills, including presentation skills.
- Knowledge of principles and methods for driving growth and value creation.
- Balance strategic and tactical efforts - Ability to get credible results/wins working one-on-one with sales & ops AND providing a clear 3-5 year framework for accelerating profitable growth.
- Ability to create followership and influence – get teams rallied around the business especially in sales & product management by informing, listening, convincing, and persuading others to action on key growth initiatives.
- Collaboration and teamwork. Proven track record of teamwork, innovation and results.
- Converts theory and insights into specific actions.
- Ability to manage and organize multiple priorities in a poised, self-driven manner.
- Superior business perspective, problem solving, and command skills.
Additional preferences for a specific position.
- Pump industry experience highly preferred
- Sales, Marketing and/or BD background
- MBA desired