Software sales typically involve selling computer programs and other technology services to individuals or businesses. Companies that produce these technologies need professionals to ensure that products get into the right hands and that the organization grows steadily.
Business development managers identify new opportunities and create growth strategies for software development and SaaS companies. They focus on preparing products and services for fresh markets, forming valuable partnerships with organizations, and expanding reach in the long term.
Roles of a Software Sales Business Development Manager
Software business development managers are often referred to as “IT business development managers” or “tech business development managers.” They are responsible for coordinating business development representatives, finding new ways to reach more clients, and launching new products and services.
The software business development manager performs the following duties:
- Creating and implementing business development strategies;
- Identifying new business opportunities;
- Conducting customer satisfaction surveys and consulting other departments on product development;
- Engaging companies’ decision makers for strategic partnerships;
- Recruiting and training business development representatives;
- Building value propositions for clients and prospects;
- Attending IT and software development events to foster new business relationships.
Skills to Look for in a Software Business Development Manager
Key skills to look out for when hiring for this role are:
- Active listening
- Relationship building
- Software knowledge
- Critical thinking
Software companies need business development managers that can effectively communicate the value of their products and services. The inability to pass information clearly and concisely may negatively impact revenue.
B2B sales expert Patrick Dang describes business development as “80% of listening to your customers and understanding what they want.” 1 The ideal candidate for this job is an adept active listener who understands prospects’ pain points and recommends ideal solutions.
Business development is a long game, so managers must learn to build lasting relationships with prospects for productive partnerships. This is especially important for enterprises, where sales professionals interact with different decision-makers before striking a deal.
The best software business development managers leverage relationships to boost their company’s growth.
To effectively communicate value, a business development manager must know software products in and out. This helps them to break down technical concepts into simple, easy-to-understand language for prospective customers and partners.
Strong software knowledge also helps BDMs differentiate their offerings from competitors and emphasize value to prospects.
Managers must develop critical thinking skills and innovative problem-solving techniques to deal with the various challenges of software sales.
Coordinating a team of business development representatives to achieve objectives and quotas requires strong leadership skills. The ideal manager leads by example and sets standards for professionalism, performance, and client relationship management.
Software Business Development Manager Compensation Data
According to data from the sources below, business development managers in tech companies earn an average of $128,945 in total income yearly. Additional compensation includes bonuses, commissions, and healthcare.
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Sample Business Development Manager Job Description
Our company builds accounting frameworks for local and multinational businesses for effective financial management. Our service helps large organizations monitor cash flow and comply with financial regulations.
We’re looking for a committed business development manager to drive growth and expand us into new markets. Our ideal candidate will coordinate business development representatives, create value propositions, and maintain relationships with key decision-makers in our industry.
Our business development manager will develop new leads and understand how our product solves each prospect’s unique challenges. They will also consult with our high-spend clients, adapting to their needs and sharing insights with senior managers in our organization.
- Bachelor’s or graduate’s degree in business administration, computer science, or engineering (or equivalent experience)
- 5 years of inside sales experience in software development or SaaS companies
- Background in technical sales development (preferred)
- Genuine passion to help clients solve financial pain points
- Strong organizational and management skills
- Ability to self-start and work without supervision
- Motivated by results and able to meet targets in a fast-paced environment
- Excellent communication skills (oral and written)
- Ability to coordinate feedback within teams and fast-track implementation
- Proficient with CRM and business management software
- Strong business acumen and negotiation skills
Business development managers collaborate with sales, marketing, finance, and product departments to implement strategic initiatives for market expansion. Software development and SaaS companies can hire them to drive growth and bring direction to their revenue generation efforts.
Communication, strategy, and relationship building are hallmarks of business development. Prospective managers can hone these skills to become top-performing professionals in the software sales industry.