What does a New Business Development do?
New business development specialists identify strategies for a company or organization to develop and sustain new growth. They analyze the market, perform competitive analysis, identify opportunities with value potential, and develop strategic plans for business growth in that area. Their scope of work encompasses all facets of business growth, including increasing revenue from sales accounts, expanding into new territories, and creating new product lines. They often focus specifically on targeting high-value contacts such as those at the executive level. They create detailed action plans with recommended tactics, and outline a timeline for achieving specified milestones.
New business development specialists typically have at least a bachelor’s degree in a business field. They have a background in sales or business development. Strong research and strategic planning skills are required.
- Spearhead sales and lead-generation activities, including prospecting, outreach, qualifying leads, and external marketing efforts.
- Identify, contact, and persuade prospective clients to work with company.
- Sign profitable business to generate revenue.
- Assist in organizing and utilizing department tools, templates, and capacity build resources in support of proposal development.
- Provide support in onboarding new customers to transition from the sales process to the servicing of the customer.
- Maintain library of best-in-class client work samples, regularly collecting new agency work in market and related branding results.
- Liaise with account and creative team leads and service line specialists to provide curated work samples that can help unlock organic growth opportunities.
- Work with cross-disciplinary teams (biz dev, account management, creative, finance, video, digital, media, activation, social media, PR) on assembly and delivery of work portfolios, proposals/RFP responses, and presentations.
- Organize meetings to ensure on-time execution and manage relationships with external agents.
- Bachelor's Degree or higher in business.
- Strong leadership, problem solving, and critical thinking skills.
- Proficient with Microsoft Office Suite.
- Strong command of English language and good communication skills.
- Able to maintain a strong work ethic and positive attitude.
New Business Development Salaries
Average Base Pay
New Business Development Career Path
Learn how to become a New Business Development, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
New Business Development Insights
Catholic Syrian Bank“Best place to work and learn”
Samsung SDI“No work and life balance”
The Woods & Co.“Susan and her team of associates are amazing to work with.”
Baker Tilly US“Many opportunities and resources to grow in your career.”
Love Home Swap“It was indeed a great team to work with”
AT&T“Good people to work with”
Foodhub“It's the best place to work for Anglo”
Adron Homes & Properties“Good networking with career development”
Frequently asked questions about the role and responsibilities of a New Business Development
- Business Development Manager
- Business Developer
- Sales Manager
- Sales Representative