What does a business development officer do?
A business development officer is responsible for implementing project management techniques and identifying business opportunities to generate revenue resources and increase client partnerships. Business development officers negotiate business offers to the clients, understanding their specifications, and develop strategic processes to reach their target goals according to their requirements, such as budget limitations and deadlines. They also review sales proposals and marketing materials, adjusting existing policies to deliver high-quality outputs with minimal costs. A business development officer analyzes feedback, evaluates current market trends, and monitors business and financial transactions.
Business development officer responsibilities
Here are examples of responsibilities from real business development officer resumes:
- Accomplish business development professional - successfully grow revenue by conduct outside sales prospecting and lead generation for new SBA loans.
- Follow up on the progress of leads that are generated from origination to conversion, assisting bankers to win business.
- Lead centralized, electronic referral center coordinating post-acute service needs of patients discharging from multiple acute facilities in Arizona region.
- Collaborate on entire business model, from lead generation, custom CRM creation/implementation, sales presentations, and employee compensation.
- Network with commercial lenders, mortgage lenders, professional bankers, treasury management, and government bankers.
- Involve and learned about PNC s full product set including derivatives, foreign exchange, treasury management, and international trade.
- Direct conversion to automate credit origination system.
- Promote SBA and Non-SBA transactions catering to professionals and manufacturers in California.
- Facilitate cross-selling opportunities to increase revenue and leverage relationships in order to better penetrate the market.
- Utilize visualization techniques, forecasting, modeling, statistical analysis, and predictive analytics to design and maintain internal business solutions.
- Leverage network and industry connections to cultivate centers of influence within the community to drive new business.
- Develop comprehensive and competitive keyword lists for search engine marketing campaigns for various SEO initiatives for small and large businesses.
- Execute digital marketing strategies resulting in increase SEO results, more cost efficient marketing practices, and improve embedded metadata.
- Create and conduct effective proposal presentations and RFP responses that addressed prospects' procurement and repair administration issues.
- Direct proposal development activities including RFP review and analysis, bid determination, proposal management and proposal team management.
Business development officer skills and personality traits
We calculated that 13% of Business Development Officers are proficient in Customer Service, Business Administration, and Financial Services. They’re also known for soft skills such as Management skills, Problem-solving skills, and Time-management skills.
We break down the percentage of Business Development Officers that have these skills listed on their resume here:
- Customer Service, 13%
Trained and empowered team leaders to improve and deliver professional customer service and to ensure effective day-to-day operations of the businesses.
- Business Administration, 7%
Increased Small Business Administration lending for Wells Fargo Bank SBA Lending Division.
- Financial Services, 6%
Implemented business and personal financial service programs and effectively solicited new Business Banking customers in assigned territory.
- Workplace, 6%
Tracked and reported WorkPlace Direct Banking activities and effectiveness.
- SBA, 5%
Established and coordinated implementation of business products and services as Business Loan Officer and Business Service Manager with SBA lending experience.
- Bank Products, 4%
Initiated promotion of bank products utilizing various marketing and advertising methods in the community.
Most business development officers use their skills in "customer service," "business administration," and "financial services" to do their jobs. You can find more detail on essential business development officer responsibilities here:
Problem-solving skills. Another essential skill to perform business development officer duties is problem-solving skills. Business development officers responsibilities require that "top executives need to identify and resolve issues within an organization." Business development officers also use problem-solving skills in their role according to a real resume snippet: "assisted existing and potential clients with financial needs by recommending products, solutions and financial services. "
Time-management skills. Another skill that relates to the job responsibilities of business development officers is time-management skills. This skill is critical to many everyday business development officer duties, as "top executives do many tasks concurrently to ensure that their work gets done and that the organization meets its goals." This example from a resume shows how this skill is used: "enhanced customer relationships to ensure requests, deadlines and quality standards are met. "
Leadership skills. business development officer responsibilities often require "leadership skills." The duties that rely on this skill are shown by the fact that "top executives must be able to shape and direct an organization by coordinating policies, people, and resources." This resume example shows what business development officers do with leadership skills on a typical day: "provide guidance and leadership to designated apple federal credit union branches on business development opportunities. "
Communication skills. Another crucial skill for a business development officer to carry out their responsibilities is "communication skills." A big part of what business development officers relies on this skill, since "top executives must be able to convey information clearly and persuasively." How this skill relates to business development officer duties can be seen in an example from a business development officer resume snippet: "position demanded beyond extreme work ethic plus high level sales and communication skills. "
The three companies that hire the most business development officers are:
- Huntington National Bank156 business development officers jobs
- Citizens Alliance134 business development officers jobs
- UMB Bank107 business development officers jobs
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Compare different business development officers
Business development officer vs. Business manager
A business manager is responsible for directing the overall operations of the company, ensuring that all employees do their tasks efficiently and accurately. Business managers' duties include developing strategic solutions, evaluating employees' performance, identifying business opportunities to grow, monitoring the company's expenses to meet its budget goals, implementing techniques to boost the company's revenue and profitability, and adhering to the company's legal policies and procedures. A business manager must have excellent leadership and interpersonal skills to supervise daily operations.
There are some key differences in the responsibilities of each position. For example, business development officer responsibilities require skills like "business administration," "financial services," "workplace," and "sba." Meanwhile a typical business manager has skills in areas such as "powerpoint," "project management," "human resources," and "payroll taxes." This difference in skills reveals the differences in what each career does.
Business managers tend to make the most money working in the technology industry, where they earn an average salary of $98,577. In contrast, business development officers make the biggest average salary, $84,162, in the health care industry.The education levels that business managers earn slightly differ from business development officers. In particular, business managers are 1.6% less likely to graduate with a Master's Degree than a business development officer. Additionally, they're 0.5% less likely to earn a Doctoral Degree.Business development officer vs. Business partner
A business partner is an individual who is involved in a legal business partnership with other individuals to manage a business as co-owners. Business partners invest their money into the business, and each partner benefits from any profits and sustains part of any losses. They must file with the state in which they do business and are governed mostly by state laws. Business partners can also be either liable or not for the actions taken by the company.
Each career also uses different skills, according to real business development officer resumes. While business development officer responsibilities can utilize skills like "business administration," "financial services," "workplace," and "sba," business partners use skills like "analytics," "project management," "human resources," and "performance management."
Business partners may earn a higher salary than business development officers, but business partners earn the most pay in the technology industry with an average salary of $94,676. On the other hand, business development officers receive higher pay in the health care industry, where they earn an average salary of $84,162.business partners earn similar levels of education than business development officers in general. They're 2.7% more likely to graduate with a Master's Degree and 0.5% more likely to earn a Doctoral Degree.Business development officer vs. Business owner
Business owners, also known as Entrepreneurs, are responsible for their company and brand's success. There are many areas of responsibility when you're a business owner, such as in the aspects of planning and budgeting, arranging finances and legal documentation, and even hiring the workforce essential for the business to grow. However, these responsibilities will vary according to how a business owner will uphold them. Moreover, building a business from the ground up requires dedication and a vision and mission for the brand.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from business development officer resumes include skills like "business administration," "financial services," "workplace," and "sba," whereas a business owner is more likely to list skills in "payroll," "business model," "real estate," and "windows. "
Business owners earn the highest salary when working in the retail industry, where they receive an average salary of $63,316. Comparatively, business development officers have the highest earning potential in the health care industry, with an average salary of $84,162.business owners typically earn lower educational levels compared to business development officers. Specifically, they're 5.2% less likely to graduate with a Master's Degree, and 0.3% less likely to earn a Doctoral Degree.Business development officer vs. Director of sales & business development
A director of sales & business development is responsible for monitoring the business and project plans, ensuring that the sales targets are met, according to project requirements and specifications. Directors of sales & business development perform data analysis to track business performance and identify opportunities to grow revenues and profits. They also coordinate with the clients and maintain healthy business relationships by enhancing their brand image on various platforms and reach the target audience. A director of sales & business development works closely with the marketing and sales team for public relations and marketing campaigns placement.
Even though a few skill sets overlap between business development officers and directors of sales & business development, there are some differences that are important to note. For one, a business development officer might have more use for skills like "customer service," "business administration," "financial services," and "workplace." Meanwhile, some responsibilities of directors of sales & business development require skills like "value proposition," "sales cycle," "revenue growth," and "leveraged. "
In general, directors of sales & business development earn the most working in the technology industry, with an average salary of $127,443. The highest-paying industry for a business development officer is the health care industry.directors of sales & business development reach similar levels of education compared to business development officers, in general. The difference is that they're 1.5% more likely to earn a Master's Degree, and 0.4% less likely to graduate with a Doctoral Degree.Types of business development officer
Updated January 8, 2025
