Key Responsibility Areas (KRA) & Key Performance Indicators (KPI) for Strategic Business Development Manager
1. Market Research and Analysis
KRA: Conduct market research to identify trends, opportunities, and threats for strategic planning.
Short Description: Analyzing market data for informed decision-making.
- Number of market reports analyzed per month
- Accuracy of market trend predictions
- Percentage increase in market share after implementing strategies
- Customer feedback on market perception surveys
2. Strategic Partnerships Development
KRA: Establish and nurture partnerships to expand business reach and offerings.
Short Description: Building strategic alliances for mutual growth.
- Number of new partnerships secured quarterly
- Revenue generated from partner collaborations
- Level of partner satisfaction through feedback surveys
- Percentage increase in brand visibility through partnerships
3. Sales Pipeline Management
KRA: Develop and manage sales pipelines to achieve revenue targets.
Short Description: Ensuring a steady flow of potential clients through the sales process.
- Conversion rate of leads to closed deals
- Average time taken to convert a lead into a customer
- Monthly sales revenue achieved against targets
- Feedback on sales process efficiency from the sales team
4. Product Development Strategy
KRA: Drive product development strategies aligned with market demands.
Short Description: Innovating products to meet customer needs.
- Number of new products launched annually
- Customer satisfaction ratings on new product features
- Market share growth attributed to new product releases
- Time-to-market comparison with industry benchmarks
5. Competitive Analysis and Benchmarking
KRA: Monitor competitors and industry benchmarks to stay ahead in the market.
Short Description: Understanding the competitive landscape for strategic positioning.
- Regular tracking of competitor activities and strategies
- Market share comparison with key competitors
- Customer feedback on perceived strengths and weaknesses of competitors
- Number of competitive insights incorporated into the business strategy
6. Client Relationship Management
KRA: Build and maintain strong relationships with existing and potential clients.
Short Description: Enhancing customer loyalty and retention.
- Client satisfaction scores through feedback surveys
- Client retention rate against industry standards
- Number of upsell and cross-sell opportunities identified and executed
- Average response time to client queries or concerns
7. Business Expansion Strategies
KRA: Identify and implement growth strategies for expanding business operations.
Short Description: Driving business growth through strategic initiatives.
- Percentage increase in revenue from new markets or segments
- Successful launch of new business units or locations
- ROI on expansion projects compared to initial projections
- Employee feedback on readiness and support for expansion efforts
8. Key Account Management
KRA: Manage key accounts to ensure satisfaction, retention, and growth.
Short Description: Maximizing value from key client relationships.
- Key account revenue growth percentage quarterly
- Net Promoter Score (NPS) of key accounts
- Number of successful upselling or cross-selling activities with key clients
- Client feedback on the quality of account management services
9. Innovation and Thought Leadership
KRA: Foster a culture of innovation and thought leadership within the organization.
Short Description: Encouraging creativity and strategic thinking for industry influence.
- Number of innovative ideas implemented annually
- Recognition and awards received for thought leadership initiatives
- Employee engagement in innovation programs and feedback surveys
- Industry recognition and mentions in thought leadership publications
10. Performance Metrics Reporting
KRA: Develop and present performance metrics reports to key stakeholders.
Short Description: Communicating business performance effectively through data.
- Accuracy and timeliness of performance reports delivered
- Stakeholder feedback on the relevance and clarity of reports
- Number of actionable insights derived from performance data
- Improvement in business decision-making based on report recommendations
