Marketing and business development: which pays better?
The difference between marketing and business development representative
Let’s start by figuring out if you understand the difference between marketing and sales. Well, we should. After all, these are two distinct areas, which in close conjunction can produce great results.
Let’s think about it for a second. Without marketing, you will not get potential customers or lids, but without having a good strategy in sales, the failure rate will become depressing. The marketing and sales teams should work together, but in most cases, they don’t even communicate.
Simply put, marketing is the action to reach potential customers and gain their trust, and sales are the action to sign a contract and close a deal.
Both are necessary for the business to be successful. You can’t give up either of these areas. If you approach the issue strategically and apply a combination of these two processes, your business will grow strongly. However, if the efforts are unequal or there is no communication between departments, it will be difficult to achieve good results.
Your marketing strategy should consist of tools that allow you to measure your coverage and performance. This way you can convince potential customers that you are worth working with and prepare them for sale. It could be various advertising, social networks, brand marketing, viral content, email, etc.
Sales are always based on interpersonal communication. Often individual calls or meetings, networking and everything that allows you and your clients (present or future) to remove the distance and reach a personal level of communication are used for this purpose. And at this stage, sales experts can work only because before that many marketing tools were involved.
It looks like this: with the help of marketing, you start the process of attracting contacts or contact points and begin to lead a potential client to the sales funnel. If marketing is effective, you can move potential customers from being a “cold” lead to being a “warm” lead.
And when the lead gets to the “warm” status, it is a lot easier for the sales specialist to close the deal.
Now let’s find out which job pays more. Here is the salary breakdown of middle specialists.
How do Marketing and business development split responsibilities
Example #1 You decided to launch a new product, for example, on an online resource. Initially, the entire control is carried out by the development manager. Since you are mastering a completely new direction, with a new business model and a new distribution. Bizdev coordinates internal/external activities until all conditions are defined: price, marketing strategy. As soon as this is done, this is a standard business and will move from business development representative’s hands to the sales and marketing department. The Sales Director in IT companies is working on “big check” projects that require the longest B2B sales cycle. His role, in this case, is to show all his expertise, knowledge, approach and excerpt to close the deal.
Example #2 Sails are focused on sales. The Sales Director could say, “We sell MVP-mobile, but if you want CRM or ERP, we can certainly develop a solution”. Bizdev could have said, “Our company strategy was to eventually enter the CRM and SaaS market in the US, we need to find partners who can strengthen our expertise. Once we know, we can take your project and confidently guarantee you the result.” In my experience, many IT companies are willing to rush into unfamiliar projects without the expertise and end up with a lot of bumps and debts. Bizdev in the given role acts as the expert and does not allow the company to increase accounts receivable. All in all:
Marketing – attracts customers to the front door of the company.
Sales – convinces the client to move from the door to the bank terminal.
Bizdev – works on creating new offices.
In typical conditions of the labor market, business development representative is considered to be more experienced Sales, who has more knowledge about markets, trends, contacts and has years of accumulated partners for an active start. In our reality, the roles are mixed. In Europe and the USA business development and sales are different roles, as you have already understood from the article. Most likely, we will continue to pay business development representative for experience and knowledge, and in other countries for the ability to set up the right development process. The topic is interesting and includes many aspects that I have not yet covered.
Every marketer is a bit of a business development representative
There are business people who are responsible for the B2B part of the business – work with suppliers of products, information, data, prices. In general, everything that is associated with filling your product line. At Aviasales, for example, they were online agencies and airlines.
There are businesses involved in monetizing a product or project. Everybody wants to make more money. There are a car and a bogie of different options, from advertising sales to revenue-sharing partnership models. Find a common language with partners, make tests, evaluate the results – and you can significantly improve the monetization of the project, which is loved by everyone.
There are business people involved in distribution development – partner channels, offline and online distribution. Think about who to knock on his shoulders to visit users in the monitor, smartphone, in the head.
If you want to be a buffoon, learn to be patient. “The woodpecker method is still the most efficient and effective, though at times it seems exhaustingly annoying.
If you want to be a buffalo, learn how to write letters and communicate with people, make up the mutual benefits of your communication and bring it to a conclusion, whether it’s a signed contract or a test batch of traffic.
Being a businessman is not only interesting, it’s also very rewarding and super demanded in any business, be it online or offline.
Business development manager salary
The average Business Development Manager salary in the United States is $60,520.
Marketing specialist salary
The average salary for a Marketing Specialist is $51,608 per year in the United States.
Seems like quite a gap, but let’s take a look at the C-level salaries
Director of business development salary
The average salary for a Director of Business Development is $125,154 per year in the United States.
VP marketing salary
The average Vice President of Marketing salary in the United States is $240,573 as of March 26, 2020, but the range typically falls between $196,693 and $303,083.
As you can see, even though business development salary looks a bit more appealing, when it comes to senior positions, a marketer scored twice more.
Feel tempted to send out a VC?
Here’s a list of resources that would help you find a dream company to join.
Best sites to get marketing and business development jobs
How do you get to a senior position?
Rusty isn’t deep. He’s wide.
Try to be a team leader rather than an independent combat unit.
Get to the strategic level of business.
Develop, implement and maintain a systematic work (team structure, interaction processes, reporting, performance reviews, etc.).
Understand that each particular team member knows his or her tool deeper and better than you (except for the one on which you specialized) and accept it.
Recruit people who are stronger than you, be able to motivate them (not necessarily with money).
Take responsibility for the team. As they say in football: the team wins, the coach loses.
Learn to react quickly to everything – changing environment and trends, requests from management and related departments.