A degree in business or marketing along with some experience in business development is normally required to become a business development coordinator. Business development coordinators support the sales department by identifying prospects for the company’s products. The coordinator will research the prospect thoroughly and help devise a plan to market to the prospect.
Business development is considered a marketing position, so most companies prefer a degree in marketing for a candidate looking to become a business development coordinator. Degrees in finance, business administration and other business-related disciplines are often acceptable for a coordinator. It is rare that a company large enough to be able to afford a business development coordinator would not require an undergraduate degree.
Some companies consider the business development position to be an entry-level one, though others prefer to see at least two years of success in a sales or marketing capacity. Success as a business development coordinator is usually measured by the number of prospects the coordinator uncovers and the sales team’s ability to convert those prospects to clients. The ability to convert prospects to clients is partially a function of the quality of prospect the coordinator brings to the company.
In addition to uncovering and researching new prospects, business development coordinators are often asked to develop a marketing approach tailored to the prospect. For this reason, sales and marketing experience, along with the technical ability to produce media presentations, are skills needed to become a business development coordinator. As an entry-level position, the coordinator also may be responsible for mundane tasks vital to the presentation, such as procuring space, setting up equipment and even providing refreshments for the participants.
Business development coordinators have to keep track of a large number of prospects. To do so, most coordinators need to be proficient in sales tracking software. Maintaining contact and knowing where prospects are in the sales process are additional integral activities that can be aided by the use of tracking software. This means it is important for anyone wanting to become a business development coordinator to be proficient in computers, software and contemporary office technology.
While business development coordinators spend much of their time making phone calls and researching companies, they also find many of their prospects through networking. Coordinators need to be outgoing people who are active in their professional community. Employers looking for business development coordinators prefer that candidates have experience in their market and have a history of involvement in civic and professional organizations.