What does a Commercial Manager do?
Commercial Managers aim to broaden the market share of a company by identifying business opportunities, such as new partnerships, markets or mergers. They typically collaborate with various business units and teams within a company to drive business development. This may include working together with an executive team to develop strategies or helping Product Managers promote and develop existing solutions. They also work alongside a company’s sales and marketing teams to create new development opportunities and establish a company’s brand.
Commercial Manager skills and qualifications
Commercial Managers should have the ability to develop and maintain effective relationships either with customers, suppliers, senior management or other teams in a company. They should have excellent interpersonal and communication skills. They must have the ability to listen to the needs and requirements of various stakeholders and be able to effectively verbalise their own ideas. A successful Commercial Manager will have various prerequisite skills and qualifications that typically include:
- Strong leadership skills to guide and motivate teams
- Excellent organisational skills to balance and prioritise their workload and meet deadlines
- Excellent customer service skills to grow a company’s client base
- Knowledge of project management and risk management
- Solid financial skills, including financial reporting abilities
- Strong marketing development skills to successfully introduce new products into the mainstream
- Knowledge of laws and regulations and industry trends
- Strong strategic and negotiation skills to make sound commercial decisions
Commercial Manager experience requirements
Commercial Managers typically need previous experience in a managerial position. Previous experience in sales and marketing is also helpful. They must also have in-depth knowledge of various business functions, including business development, financial management of projects and customer management. Depending on the position, candidates may need to show experience in risk management, creating successful bids, overseeing projects from inception to completion, managing cross-functional teams and driving operational business metrics. Some positions may also require industry-specific experience.
Commercial Manager education and training requirements
Although it’s not a requirement, many Commercial Managers hold a bachelor’s degree in business development, business management, business administration or a related field. Candidates can gain a deeper knowledge of business fundamentals and learn how to successfully collaborate with stakeholders and coworkers colleagues by obtaining a master’s degree in business administration. There are also several professional qualifications in this field that candidates can pursue. The Managing & Marketing Sales Association (MAMSA), for instance, offers a certificate or diploma in marketing strategy and management.
Commercial Manager salary expectations
According to Indeed Salaries, the average salary of a Commercial Manager in the UK is £51,426 per year. This figure varies depending on several factors, including the employer, experience and geographical location.
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