Job Title: Business Development Manager
Position Overview: The Business Development Manager is responsible for driving company growth by effectively combining sales, market research, strategy, and relationship management. The Manager will work closely with the company executives and management teams, meet with potential partners and maintain existing client relationships, and monitor trends to inform strategic plans and adjustments.
Job Responsibilities: 1. Conduct market research to identify emerging market trends and customer needs, new markets and sectors where the company can expand its reach. 2. Identify and generate leads through various methods, including networking, prospecting, and omni-channel communication. 3. Coordinate with the senior leadership team to develop and implement effective sales strategies to approach and close deals with new clients or partners. 4. Craft proposals, quotes, and presentations that clearly define the value proposition of the company’s strengths, products, and services. 5. Engage in negotiations with potential clients to finalize contracts, set terms, and close deals while ensuring mutually beneficial outcomes. The manager must own the sales lifecycle from prospecting to realization. 6. Mentor and train Customer Service Representatives and AutoPlus Representatives in alignment with company service standards. 7. Oversee the performance of the financial advisors and enforce minimum sales quotas. 8. Identify strategic partners that can help expand the business reach through joint ventures, collaborations, sales/referral agreements, etc. 9. Work with senior team members to identify and manage company risks that might prevent growth and emerging threats. 10. Remain current on industry trends, technological advancements, and market conditions that could impact business development efforts. 11. Collaborate with marketing, compliance, and operations teams to ensure that business opportunities are aligned with company capabilities and risk tolerances. 12. Represent the company at industry events, conferences, and networking opportunities. 13. Monitor the success of business development activities through key performance indicators (KPIs) attached to sales revenue, conversion rates, and client retention. 14. Monthly progress reports on business development goals, including lead generation, sales, forecasts and overall performance analysis. 15. Analyze and monitor competitor activities, market trends, and customer feedback to inform the company’s business development strategies and targets for market penetration, revenue growth, and expansion.
Skills and Abilities: Self-motivated, target-oriented, and able to work independently or in a team. Strong written, verbal, and visual communication skills. Great interpersonal and customer service skills. Ability to successfully manage priorities in the face of competing demands. Proven marketing, influencing, negotiating, and communication skills in dealing with C-suite leaders and a diverse customer base while ensuring mutually beneficial outcomes. Ability to effectively present information to top management, public groups, and/or boards of directors. Strong networking, sales, and relationship-building acumen. Proficient in MS Office and CRM software. Education BSc in Administration/Management, Marketing, Finance, Economics, or related field Relevant industry-specific designations – ALMI, CII, CPCU, etc. Experience and Additional Competencies Minimum of five (5) years of experience in sales, marketing, or business development, preferably in the insurance or financial services industry. Working knowledge of insurance products, underwriting processes, marketing functions, and the insurance environment and regulations.