Job Description
Required by Fortune Sacco is a Savings and Credit Cooperative Society
The Senior Business Development Officer is tasked with driving growth for Sacco, identifying new opportunities, and ensuring the conversion of these opportunities into tangible business results. The Officer will play a crucial role in the growth and sustainability of Sacco by identifying and implementing strategies to increase revenue, expand the member base, and improve overall financial health.
Roles and Responsibilities:
1. Local Market Analysis and Engagement:
o Analyze local market trends, member needs, and the competitive landscape specific to assigned branches.
o Engage with local communities and businesses to promote Sacco services and identify potential partnerships.
o Collaborate with Branch Managers to identify and participate in local community events for strategic marketing purposes.
2. Implementation of Marketing Strategies:
o Implement marketing strategies devised by the Head of Marketing & Communications at the branch level.
o Tailor marketing campaigns to align with the demographics and preferences of the local market.
3. Member Acquisition and Retention
o Develop and implement targeted strategies for member acquisition and retention in collaboration with branch managers.
o Organize outreach programs, events, and promotional activities aimed at attracting new members and retaining existing ones.
o Ensure effective relationship management for newly onboarded Sacco members.
4. Product and Service Promotion
o Promote both existing and new financial products and services to current members and potential ones.
o Collect feedback on product offerings, suggesting improvements based on member responses and market demands.
5. Performance Monitoring and Reporting
o Monitor and report on the performance of marketing and business development activities at the branch level.
o Regularly update the Head of Marketing & Communications on progress, challenges, and market opportunities.
6. Collaborate closely with branch managers and teams to align business development activities with branch goals.
7. Compliance and Best Practices: Stay updated on best practices in marketing and business development within the financial sector.
Key Performance Indicators
• Revenue Increment: Increase in revenue per responsible branch or branches.
• Membership Growth Rate: Percentage increase in new members at each assigned branch.
• Member Retention Rate: Proportion of members retained over a specified period at each branch.
• Marketing Campaign Conversion Rate: Number of members acquired or products sold per marketing campaign.
• Local Market Share Increase: Growth in Sacco’s market share within the BDO’s area of responsibility.
• Product Uptake Rate: Rate of adoption for new financial products and services introduced in the branches.
• Member Satisfaction Index: Member satisfaction levels based on feedback, surveys, or other metrics.
• Operational Efficiency Improvement: Enhancements in branch operational efficiency linked to BDO initiatives.
• Strategic Partnership Development: Number and quality of new strategic partnerships formed in the BDO’s area.
• Budget Adherence: The degree to which business development activities stay within allocated budgets.
Qualifications, Knowledge, and Experience
• Diploma in Business Administration or a related field.
• Minimum of 3 years of experience in business development.
• Ability to lead and collaborate effectively within a team.
• Proficiency in market intelligence and business development skills.
• Proven track record in developing new business opportunities and enhancing the profitability and competitive performance of the business.
• Excellent interpersonal skills and ability to build lasting relationships with clients.
• Strong organizational skills and a dedicated work ethic.
• Capacity to manage pressure and meet deadlines.
• Sound understanding of internal SACCO policies, systems, and procedures.
• Creative and innovative thinking.
• Outstanding communication, influencing, and presentation skills.
• Computer literacy, with proficiency in Microsoft Office