POSITION DESCRIPTION
New Business Development Manager
Job Title
New Business Development Manager
Department
New Markets & New Business Development
Reports To
Director, New Markets & New Business Development
Location
Lynchburg, VA (Headquarters) or Remote
Employment Type
Full-Time, Exempt
Role Overview
As a New Business Development Manager at IWT, you will work within a team environment to drive sales by identifying and opening new markets for IWT products and technology, with the goal of diversifying revenue within current customer segments and in entirely new market verticals (e.g., metal/non-metal mining, maritime, oil & gas). Reporting to the Director of New Markets & New Business Development, you will help develop and execute Go-To-Market (GTM) strategies and serve as a bridge between the Marketing and Sales teams.
This is a business and market development role focused on growth beyond IWT’s CORE and diversity of revenue. CORE refers to IWT’s currently released SENTINEL communication, tracking, and gas solutions for underground coal mining.
The role supports Marketing with market data to identify new markets, analyze market research, and assess the best strategies to launch and market new products. It works with IWT Product Development/Management to drive initial “beachhead” wins and support the transition of released products to IWT Sales teams. The position also helps drive process excellence and IWT Sales’ digital transformation through dashboards, KPI development, and business-intelligence initiatives within IWT’s BI systems. In addition, NBD is responsible for helping to build strategic partnerships and to develop and manage channel partnerships.
Partner With Marketing, Sales & Channel Partners To
- Establish GTM strategies for new business/market beachheads and for expansion within existing customers.
- Identify, analyze, and target the next “whales” and beachheads to support IWT’s pursuit of diversity and growth, including surfacing new customer problems and pain points for IWT to pursue.
- Assess the competitive landscape and blueprint the buying journey. Document and communicate the decisions and information needed at each stage to define how IWT can compete and win.
- Supply market intelligence to Product Marketing, Program Management, and Engineering Management to help define the vision for new products, set strategic goals, and articulate why the customer needs the product and how it stands out.
- Develop effective channel partner enablement artifacts including pitch decks, customer success stories, demos, value selling and technical training sessions, and competitive positioning, to build out IWT’s toolkit for selecting and enabling channel partners/reps.
Growth Beyond the CORE
Diversity and growth outside IWT’s CORE are pursued along three vectors:
- New Products in Current Markets: In legacy accounts and markets (e.g., Clarity Operational Intelligence, proximity detection, belt control, stockpile void detection).
- Current Products in New Markets: Either fully non-mining markets or new mining segments such as metal/non-metal, hard rock, and international. This also includes new verticals.
- New Products in New Markets: Hunting for big fish in high-growth adjacencies such as 5G, private LTE, indoor positioning/RTLS, recurring revenue streams like Clarity, managed services, and as a Service.
Responsibilities
- Opportunity Identification: Identify new business development (new sub-verticals and verticals) and legacy expansion (broader product offering to existing customers and greater share of wallet) opportunities by analyzing market trends, customer needs, business cases, and competitor strategies to optimize IWT product-market fit.
- Strategy Development: Develop strategies to capture new market opportunities, including detailed plans to approach target markets and clients, and to reuse, modify, or develop IWT technology to meet pain points and differentiate IWT from competitors.
- Capture Management: Develop strategies to win “whales” and communicate the value proposition of IWT products to internal and external target audiences. This includes commercial opportunities and funded R&D pursuits.
- Team Collaboration: Serve as a key member of the cross-functional team responsible for GTM and product launches. Work with Marketing to prioritize the product roadmap and with Marketing, Operations, and Finance to rationalize investment, pricing, and margin positions.
- Sales Enablement & Coaching: Help the Sales team achieve its goals through best-practice training, coaching, and mentoring, and support development of a sales onboarding program for new hires. Conduct 4-legged sales calls to help the team close NBD business in their accounts.
- Market Intelligence: Provide customer engagement, feedback, and market intel to the Marketing team. Contribute inputs to MRDs; and support focus groups, TechConnects, and other GTM activities for new markets and products.
- Customer Relationship Development: Attend relevant industry trade shows and customer meetings and develop a deep understanding of customer needs, problems, and pain points.
Objectives & Key Result Areas
Performance in this role is organized around the following objective areas, consistent with IWT’s Management-by-Objectives (MBO) framework:
- Proximity: Grow Guardian™ proximity-detection bookings.
- Diversity: Grow bookings outside the CORE, across International Mining, Tunnels, the Clarity Platform business, Envök, Plants, Ports, and other new verticals and sub-verticals.
- Channel: Grow Channel Partner bookings.
- Team & Management Support: Exceed assigned objectives; Support market research and high-level MRD requirements; Field prototypes for customer feedback; Help the Sales team hit its goals.
Desired Qualifications & Candidate Skills
- Proven history of growing revenue through new product sales, new business, new market development, and product marketing for both new and mature product lines.
- Experience in the technology industry, including the ecosystem of companies developing products to serve IWT’s markets of interest.
- Strong technical aptitude and the ability to establish credibility with product management, technical pre-sales, and customers.
- Intellectual curiosity and the desire and ability to understand complex technical concepts.
- Excellent written and verbal communication skills, with the ability to articulate complex strategies to technical and executive audiences.
- Situational fluency, the ability to influence and motivate others, and perseverance to handle challenging business situations.
- Ability to gather disparate information and connect the dots, evaluate business cases, and align sales opportunities with the engineering roadmap while making appropriate trade-offs around time to market, price, and performance.
- Solid negotiation skills working with clients on contracts and terms.
- Leadership skills and the ability to drive cross-functional teams toward a common goal.
- Strategic and analytical thinker, willing to take data-backed risks, with the tactical drive to work through obstacles and roadblocks to keep momentum and secure new business.
- Able to set priorities and maneuver in a corporate environment with a results-oriented focus and a strong sense of urgency.
Must be a US Citizen, holding no dual citizenships
To be successfully onboarded, the candidate must perform drug screening as well as a background check
Physical Requirements: Physical requirements are typical for an office setting.
Equal employment opportunity policy
The United States government does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service or other non-merit factor.
Reasonable accommodation policy
Federal contractors must provide reasonable accommodation to applicants with disabilities where appropriate. Applicants requiring reasonable accommodation for any part of the application process should follow the instructions in the job opportunity announcement. For any part of the remaining hiring process, applicants should contact the hiring agency directly. Determinations on requests for reasonable accommodation will be made on a case-by-case basis.
Pay: $90,000.00 - $140,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Disability insurance
- Employee assistance program
- Employee discount
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Referral program
- Tuition reimbursement
- Vision insurance
Work Location: In person
