Categories Business

What Does a Business Relationship Manager Do? (Plus Skills)

Business relationship managers play a vital organizational role, serving as a liaison between customers and upper management, executives and stakeholders. Professionals who fill this role handle customer-facing processes and initiatives and help inform future business strategies. Learning the skills to be a business relationship manager can help you adopt a customer-centric approach that may result in higher rates of customer retention and satisfaction. In this article, we explore Business Relationship Management, how to become a business relationship manager, what skills professionals in this role need and their career outlook with salary details.

What is a business relationship manager?

A business relationship manager is an expert tasked with overseeing customer satisfaction and enhancing a business’s rapport with its key clients. By fostering enduring relationships with their target audience, businesses can cultivate customer loyalty, foster a favorable reputation, and augment organizational revenues. Satisfied customers tend to engage in repeat purchases and advocate for the business to others. Given the pivotal role customer satisfaction plays in numerous business frameworks, companies frequently enlist business relationship managers to monitor, evaluate, and enhance customer relations.

What does a business relationship manager do?

Business relationship managers undertake diverse responsibilities tailored to their company’s requirements. The daily tasks of a business relationship manager can vary based on their industry and employer’s focus. For instance, businesses may cater to a general consumer base or primarily engage with other businesses. A business relationship manager comprehends their company’s key clients and collaborates with them to optimize service delivery. Moreover, they frequently liaise with business executives to shape crucial strategic decisions.

Some overarching responsibilities of business relationship managers include:

  • Collaborating with senior executives to craft customer engagement strategies.
  • Developing research methodologies to glean insights into customer values, needs, and perceptions of the company.
  • Analyzing customer satisfaction metrics to identify prevailing strengths and weaknesses.
  • Utilizing data to devise innovative strategies for enhancing customer relations.
  • Drafting reports that highlight existing customer relationships and propose future strategies to drive business expansion.
  • Implementing novel customer service approaches by training middle-level managers in advanced engagement techniques.
  • Leveraging and integrating emerging technologies into the company’s customer service framework.

How to become a business relationship manager

Get a Bachelor’s Degree

Begin your journey to becoming a business relationship manager by earning a bachelor’s degree in a relevant field. Common choices include finance, accounting, business administration, economics, or related disciplines. Alternatively, degrees in computer science, data science, or IT can also be valuable, especially for roles involving technology implementation and data analysis.

Gain Relevant Experience

While pursuing your undergraduate degree, consider seeking internships to gain valuable work experience and network with professionals in the field. Internships provide opportunities to learn and develop skills while getting a firsthand look at the industry. Additionally, gaining leadership experience through extracurricular activities or advancing in your workplace can demonstrate initiative and build essential management skills.

Consider a Graduate Degree

For those looking to enhance their credentials and competitiveness in the field, pursuing a master’s degree in business relationship management or business administration can be beneficial. These programs offer advanced education and additional management skills that can be applied in the workplace. While earning a master’s degree requires time and effort, it can significantly bolster your career prospects and open doors to higher-level positions.

Skills for Success

Business relationship managers need a blend of hard and soft skills to excel in their roles. These include:

  • Communication: Effective communication skills are essential for collaborating with various teams, stakeholders, and clients.
  • Organization: Strong organizational skills help managers juggle multiple tasks and meet deadlines efficiently.
  • Leadership: Leadership skills are crucial for guiding teams, resolving conflicts, and keeping team members motivated.
  • Problem-solving: Business relationship managers must be adept at analyzing data, identifying challenges, and developing solutions to improve customer engagement.
  • Technical Competency: Proficiency in computer skills and familiarity with relevant software tools are essential for data analysis, reporting, and customer relationship management.

Work Environment

Business relationship managers typically work in office environments, though some may travel to meet with clients. They spend their days attending meetings, analyzing data, and collaborating with colleagues. This role is often full-time, and professionals may work more than 40 hours per week, especially when managing multiple projects or departments.

Job Outlook and Salary

According to the U.S. Bureau of Labor Statistics, related management roles, such as public relations and fundraising managers, are projected to see a 13% increase in job outlook through 2030. Business relationship managers earn an average salary of $58,263 per year, with potential for higher earnings based on factors like location, industry, and experience level.