What are the responsibilities and job description for the Business Development Executive position at MSC Industrial Supply?
BRIEF POSITION SUMMARY :
The Business Development Executive works to improve MSC’s market position and achieve financial growth in medium and large manufacturing customers ($500,000 - $5M). The Business Development Executive aligns with MSC’s long-term strategic goals, builds key customer relationships, identifies business opportunities, negotiates and closes business deals and maintains extensive knowledge of current market conditions. The Business Development Executive will collaborate with the internal team, marketing staff, and other managers to increase sales opportunities and thereby maximize revenue. To achieve this, they need to contract new solutions to medium and large manufacturing customers in their early stages of the client’s life-cycle. Business Development Executives will sell MSC’s solutions to directors and officers of our clients by following a sophisticated sales methodology teaching clients something new and compelling about their own business needs and provides conclusive reasons why it’s necessary to take action with MSC’s solutions. They call on clients, often being required to make presentations on solutions and services that meet or predict their clients’ future needs. Strategic planning for future development is a key part of the Business Development Executive to ensure they can continuously develop a pipeline of new business coming in to the company. In order to be successful, the Business Development Executive will need to develop thorough knowledge of the marketplace and MSC’s competitors.
DUTIES AND RESPONSIBILITIES
- This position is responsible for identifying, pursuing, signing and transitioning medium and large manufacturing customers by proactive prospecting, modeling internal analytics in support of driving maximum profitability, developing compelling value based proposals, presentations and other customer facing content to communicate value, building broad prospect relationship networks (including senior level) within customers with revenue potential of $500,000 to $5M incremental per year.
- Applies extensive solutions, product, financial and market knowledge to sell complex accounts.
- Identifies researches and / or qualifies targeted account prospects and maintains a robust funnel capable of delivering incremental revenue at or above annual goals. Maintains highly accurate and complete funnel analytics demonstrating a strategic ownership of business.
- Accurate, current management of content in funnel, win / loss, launch status, SFDC and other platforms for communicating business resource needs to the organization
- Makes contact with the appropriate management levels and decision makers within the prospect organization to propose and secure new agreements leveraging insight selling concepts, tools and value proposition content.
- Responds selectively and strategically to prospective customer Requests for Information and Proposal and negotiates pricing and other terms of new account agreements with prospective clients to ensure maximum revenue and profit from new agreements to include terms and conditions that will minimize the company’s risk.
- Prepares detailed financial models forecasting account performance over life of agreement. Communicate financial performance expectations across leadership teams.
- Develops and Communicates all aspects of newly signed account agreements to department resources (Customer Success Team, Account Coordinators, etc) field sales (RM / MM / BSM / OSA / VSR / TSR / SIOT, etc) and company (legal, supply chain, e commerce, sourcing, data analytics) to ensure rapid and complete penetration and revenue growth of new agreements.
- Proactively maintain working relationships with field leadership and customer support leadership as necessary to meet customer needs. Work with field leadership to customize account coverage as needed to drive compliance to approved forecasted sales thresholds. Document and clearly communicate customer service level expectations and or shortfalls with field leadership team including
- This role requires superior communication and negotiation skills to align business goals across functional teams.
- Submits to management all required sales and expense reports in a timely manner. Pro-actively entertain in assigned accounts where pre-approved.
- Manage travel and entertainment to meet assigned budgets. Utilizes phone, webcast and on-site visits efficiently to establish regular cadence with both the field leadership team and large customer / prospect site locations as assigned.
- Professional development training will be completed in a timely manner as assigned. Examples include presentation, negotiation, account planning, company supported training or SFA training.
- Cleary demonstrates can-do attitude toward supporting new initiatives and programs designed to meet customer needs. Proactive problem solving approach as necessary to overcome obstacles for customer compliance, growth and profitability.
- Fosters the MSC Culture in the department and throughout the company to ensure fulfillment of MSC’s vision and unity of purpose.
- Participation in special projects and performs additional duties as required
QUALIFICATIONS
What You Need :
Bonus Points If You Have :
Other Requirements :
Compensation starting at $64540 - $175450 and up, depending on experience.
The salary range represented is based on similar roles in comparable industries, and the cost of labor in respective cities. Actual compensation is based on the candidate’s relevant experience, education requirements and peer pay equity. The Company reserves the right to modify the range as market conditions change.
Salary : $5,000 - $500,000
