By Alex Edsel, MS Marketing Program Director, the University of Texas at Dallas
In this post, I want to focus on careers in business development or demand generation
What is business development?
According to Hubspot:
Business development is a process that helps your company establish and maintain relationships with prospects, learn about your buyer’s personas, increase brand awareness, and seek new opportunities to promote growth.
In contrast, sales teams sell your product or service to customers and work to convert leads into customers. Business development-related work simplifies the work of a salesperson or sales manager.
While related to sales, the business development/demand generation role differs in important ways.
About Business Development Roles:
For information on the Business Development & Professional Sales track in the MS Marketing program, please go here.
Job Analysis for Demand Generation Specialists
An early career Demand Generation Specialist with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $55,321 based on 121 salaries. A mid-career Demand Generation Specialist with 5-9 years of experience earns an average total compensation of $56,748 based on 30 salaries. An experienced Demand Generation Specialist with 10-19 years of experience earns an average total compensation of $68,784 based on 6 salaries. In their late career (20 years and higher), employees earn an average total compensation of $87,500. Source: PayScale
The top respondents for the job title Business Development Associate are from the companies; Corporate Executive Board (CEB), Gartner Group Inc and J.P. Morgan Chase & Co. (JPMCC). Reported salaries are highest at Booz, Allen, and Hamilton where the average pay is $102,000. Other companies that offer high salaries for this role include J.P. Morgan Chase & Co. (JPMCC) and Brighton Jones LLC, earning around $83,971 and $70,000, respectively. Politico pays the lowest at around $39,631. Corporate Executive Board (CEB) and Gartner Group Inc also pay on the lower end of the scale, paying $44,000 and $44,764, respectively. Source: PayScale
What is the market size?
Searches for “demand generation manager” returned approximately 9,761 results on Indeed.com in November 2019; and a keyword search for the skill “demand generation” in the same time period on the same site returned 19,875 jobs.
Searches for “business development associate” returned approximately 158,517 results on Indeed.com in November 2019; and a keyword search for the skill “business development” in the same time period on the same site returned 23,151 jobs.
A Typical Job Description from Gartner – Irving, Texas:
GARTNER BUSINESS DEVELOPMENT ASSOCIATE
Why join Gartner?
When you join Gartner, you’ll be part of a fast-growing team that helps the world become smarter and more connected. Gartner is the world’s leading research and advisory company, achieving consistent double-digit growth by steering clients toward the right decisions with business and technology insights they can’t find anywhere else. Gartner associates enjoy a collaborative work environment, exceptional training and career development — as well as unlimited growth opportunities. If you like working with a curious, supportive, high-performing team, Gartner is the place for you.
Are you driven by results and achieving goals? Have a passion for problem solving? You’ve come to the right place. We’re seeking a Business Development Associate to join our Global Business Sales team. you’ll be part of a fast-paced, dynamic team providing the highest level of sales support in procuring C-level individuals in some of the world’s most successful companies as potential new clients.
Apply strategic thinking and relationship building to help get executives on board to solve the most pressing business challenges affecting Fortune 500 executives from around the globe. Understand their critical initiatives, align Gartner research and expertise, and help Gartner maintain its growth by ensuring strong business development of new clients.
We do it for the impact.
Our GBS business development team engages prospective clients with high-value research and insights that address their mission critical priorities. We are an unstoppable force of proactivity, engagement, resourcefulness, and application. We offer relevant information and actionable insight to leaders at more than 11,000 companies to manage talent, benchmark performance, and achieve critical objectives—effectively changing their futures. That’s why we sell research and technology.
What candidates get out of this opportunity?:
- Conduct lead generation, prospecting, and qualifying leads.
- Utilize business acumen to research companies, C-Level executives, business trends, competitive intelligence to create detailed research based strategic communication plans.
- Proactively schedule calls with prospective clients via phone and email (including cold calling).
- Educate prospective clients on the value of Gartner’s renowned Global Business Sales products and services.
- Partner with Business Development Managers to create customized plans for sales territories, with a goal of supporting their monthly, quarterly and annual revenue targets.
- Coordinate internal staff to ensure the right individuals are present to support a prospective client on the issue/challenge to be discussed during the sales pitch call and/or sales presentation.
- Bachelor’s degree (all majors welcome)
- Relevant work or internship in sales or customer service
- Unmatched ability to establish credibility with senior-level executives
- Advanced computer and internet search skills
- Varsity-level communication, writing, problem-solving, and time management skills
- Ability to plan and prioritize daily tasks/responsibilities
- Demonstrated ability to work well under pressure
- Collaborating with others to overcome challenges
- We show you a clear career path for advancement and offer a unique training curriculum specifically designed to foster a long-term career in the field (you did say you’re passionate).
- We take care of you with competitive compensation and a benefits package including medical, dental, vision, 401(k), paid time off, employee stock purchase program, flexible spending, and tuition assistance.
- Diversity and inclusion are at our core—join established Veterans’, Women’s, LGBT, and cultural groups to celebrate our differences.
- An upbeat, positive and collaborative working environment
- Opportunity to develop your career in the world’s leading Research and Advisory Company which is facing incredible growth looking into 2020.
|Top skills mentioned by at least 10 major companies with this job title posting||Courses of special relevance —- see syllabus for each course for exact lineup of skills as not all covered in each instance|
|Socially adept, listen intently, ability to update sales funnel or customer management platform||MKT 6342 Marketing Customer Insights Development
MKT 6334 Digital Sales Strategy
MKT 6343 Social Media Marketing & Insights
|Qualifying leads and nurturing relationships with clients, setting goals and developing action plans, negotiating skills||OB 6301 Organizational Behavior
OB 6332 Negotiation & Dispute Resolution
|Understanding people’s buying patterns and trends, identifying the match between a product and a market segment with potential customers||MKT 6310 Consumer Behavior
ENTP 6370 Innovation & Entrepreneurship
BPS 6360 Management & Organizational Consulting: Theory and Practice
|Data Analysis tools such as Python, R, SPSS and Data Visualization tools like Tableau||MKT 6353 Customer Insights & Analytics
MIS 6356 Business Analytics with R
MIS 6380 Data Visualization
OPRE 6332 Spreadsheet Modeling & Analytics
|CRM Software – HubSpot, SAP, Salesforce, Pipedrive CRM, Really Simple Solutions, Nimble, Zoho CRM, Microsoft Dynamics CRM, Infusionsoft, Sage||MKT 6338 Customer Relationship Management
MKT 6341 Marketing Automation & Campaign Development
|Survey Tools (Qualtrics, Decipher, ConfirmIt). MS Word, Excel, PowerPoint, and Access, Google slides for Presentations/sales displays||MKT 6309 Marketing Data Analysis & Research
OPRE 6301 Statistics & Data Analysis
BUAN/MIS 63XX Causal Analytics &A/B Testing (FA 2020)
|Exceptional numerical skills, proficiency in written and verbal communication, client interaction, creative at problem-solving, project management skills||OPRE 6362 Project Management in Engineering and Operations
MKT 6342 Marketing Customer Insights Development
Typical Job Titles:
- Business Development Manager
- Business Development Specialist
- Business Development Representative
- Vice President of Business Development
- Director of Business Development
Creative Job Titles for Business Development:
- Strategic Partnerships Manager
- Strategic Alliance Specialist
- Senior Solutions Consultant
- B2B Corporate Sales
- Senior Account Executive
Some business development/lead generation blogs
Business Development & Marketing Conference 06-09 Feb 2020, Orlando, FL
B2B Marketing Exchange 24-26 Feb 2020, Scottsdale, AZ
CUNA Marketing & Business Development Council Conference 15-18 Mar 2020, Orlando, FL
Inbound 2020 18-21 Aug 2020, Boston, MA
Companies with the Highest Business Development Salaries
Alexander Edsel is the director of the MS in Marketing program and faculty member at the University of Texas at Dallas who teaches courses in digital marketing. Topics include e-commerce platforms, marketing automation, mobile apps, search-engine optimization, pay-per-click and web analytics