Business Development Executive Responsible for researching and seeking new evidence for business growth. The role involves active coordination between teams and requires exceptional interpersonal skills. The executive is expected to work on new business proposals and presentations that are a convincing representation of the organization’s products/services.
Business development in broader terms is a mix of sales + marketing + relationship management + financial modeling + negotiation skills + presentation skills + market research.
As you know, the list doesn’t end there. But, this is something I remember, or rather, I’m sure what a business development person basically does.
Now, when defining the role of the CEO for business development, he/she must think proactively in building its customer base while ensuring that relationships are managed simultaneously with its existing clients.
His priority is to help his companies acquire new customers and sell additional products or services to existing customers; This means that the role is crucial for any company with an ambition to expand or the need to diversify its customers.
Business development professional responsibilities
The business development professional has three main responsibilities:
- Identify new sales customers
- Launch of products and/or services
- Maintaining fruitful relationships with existing clients.
When it comes to lead generation, everyday tasks generally include:
- Look for organizations and individuals online (especially on social media) to identify potential customers and potential new markets
- Investigate the needs of other companies and identify who makes the purchasing decisions
- Communicate with potential clients by email or phone to create a good relationship and organize meetings
- Planning and overseeing new marketing initiatives.
- Attending conferences, meetings, and industrial events.
Other challenging duties of selling include:
- Prepare PowerPoint presentations and sales presentations
- Contact customers to inform them of new developments in the company’s products.
- Development of budgets and proposals
- Negotiate and renegotiate by phone, email, and in person.
- Set sales goals for the team and ensure that they are achieved
- Train employees and help team members develop their skills.
- To maintain healthy relationships with clients, this primarily requires socialization. Therefore, from simple phone conversations to lunches, events, or conferences, business development managers must make sure to keep their customers happy.
Of course, as with all office jobs, documentation is also a big part of the job. Business development professionals are also required to write reports and provide comments to senior management on what works and what doesn’t.
How to write a business development executive description
Your job description is the first point of contact between your company and your new employee. With millions of job seekers, in reality, every month, this great job description can help you attract the most qualified candidates to your vacant position. To get started, here are some tips for creating an effective job description.
The business development executive is a senior manager tasked with helping your business grow, and therefore they are senior sales professionals.
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Business development executive title
Excellent job title generally includes a general term, level of experience, and any special requirements. The general term will improve your job title to appear in the general search for jobs of the same nature.
The level of experience will help you attract the most qualified applicants by describing the amount of responsibility and prior knowledge required.
If your position is a specialist, consider including the specialization in the job title as well. But avoid using headlines, shortcuts, or internal shortcuts to make sure that people understand what your career post is before clicking.
Examples of job titles for business development
- Business Development Manager (Preferred Sales Fund)
- Business Development Officer
- Business Development Leader
- Business Growth Manager
- Business growth executive
Business development skills
In order to be an effective business development executive, an individual must:
- Socially witty
- Good with numbers
- Able to provide quality leadership to a large team of vendors
The skills required for a business development executive include:
- Strong computer fluency
- Creative talent and ability to solve difficult problems.
- Knowledge of the current industry trends and changes.
- Ability to handle stress and meet deadlines
- Ability to set priorities and classify obligations
- Attention to detail
- Excellent time management and organization
Business development challenges
Business development executives face a number of challenges at work. These include:
- Manage poorly performing team members
- Suffering from stagnation in industry and/or economics
- Loss of clients by superior competitors
- Dealing with customers who are not satisfied with the quality of the product or service.
- Executive Business Development Salary
- The salaries of business development executives vary according to experience and level of responsibility. Initial jobs usually pay around 2,60,000 rupees per annum, but they rise to around 30-40,000 rupees per month with many years of experience. After promotion to senior executive positions, senior business development managers earn a minimum of 8,00,000 to 16,00,000.
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Regardless of which industry interests you most, there is likely to be a need for business development managers and business development managers in this sector. This job is an excellent opportunity to enter a wide range of professional fields. If you think it might be a good choice for you, register to apply for job opportunities available in your area.