In your own words, what does a Business Development Manager do, and how is it different from a sales executive?
What the interviewer wants to hear
- Finds and creates new revenue opportunities: new customers, markets or partners
- Focus on opening doors, qualifying and building pipeline
- Often works on partnerships and longer-term growth, not only closing
- Works closely with marketing, sales, product and finance
- Measured by pipeline, new revenue and partnerships created
Model answer
A Business Development Manager creates new growth for the company. That can mean finding new customers, opening a new market or industry, or building partnerships with companies that can refer or resell our product. A sales executive usually focuses on running deals through to closing and hitting a quota on existing pipeline. A BDM spends more time earlier in the process: researching target accounts, starting conversations, qualifying real opportunities and building pipeline. In many companies the BDM also closes deals, but the bigger focus is on long-term growth and relationships. The role works closely with marketing on campaigns, with product on market feedback, and with finance on pricing. I would measure a BDM on qualified pipeline created, new revenue won and the value of the partnerships they build.
Can you answer it under time pressure?
Take a timed easy round and get scored on every answer.
More easy Business Development Manager questions
- How do you research a company before your first call with them?
- Prospecting involves a lot of rejection. How do you stay motivated and productive?
- Which metrics would you track to understand if your business development work is going well?
- Walk me through how you structure a discovery call.
- Why do you want to work in business development?
- How do you write a cold email that gets replies?
- How do you build trust with a prospect you have just met?
- How do you use LinkedIn in your prospecting?
- Tell me about a deal you are proud of winning.