A business development executive is a valuable addition to any company. A skilled BDE can bring in new business and boost a company’s prospects. A BDE’s main responsibility is to generate leads for companies in e-commerce, retail, pharma, FMCG, electronics, clothes and fashion, cosmetics, furniture, aerospace, manufacturing, chemicals, and other fields. You will be able to meet your business goals on time if you engage a motivated BDE who is professional in their approach to work. Following proper recruiting practices is the key to selecting the perfect BDE for your firm. Only experts with the proper talents, behavioral qualities, and subject expertise will enter your workforce if you have a competitive recruitment strategy in place.
In most cases, a Business Development Executive performs the same duties as a Sales Executive or an Account Executive. In the end, this person is in charge of selling a product or service directly to clients. These customers could be other businesses (B2B sales) or individual customers (Business-to-Consumer, or B2C sales).
A Business Development Executive, in particular,…
- Creates long-term value for a company through customers, markets, and partnerships.
- Focuses on expanding the company — they investigate possible growth prospects, then assist and supervise their execution.
Typical Business Development responsibilities include:
- Using networks and online research, identify and qualify new sales leads.
- Follow up on any sales leads, clearly providing pertinent facts.
- Use telephone, email, and internet contact to build and maintain strong connections with new and existing partners.
- Become a product expert and be able to effectively present the company’s items to current and new customers.
- Meet sales targets and KPIs on a weekly and monthly basis.
- Attend conferences, meetings, and industry events on behalf of the company.
Putting this part into context…
EXAMPLE: Business Development Executives are employed by a digital marketing business to find and contact potential organizations that might be interested in purchasing digital marketing services. The BDEs will conduct research on firms, analyze their present digital marketing activities, and build relationships with them (most likely via phone and email), recommending ways in which the agency may assist them in improving their digital marketing efforts. They’ll then keep solid working connections with clients, offering them add-ons and enhancements whenever available, and continually looking for methods to add value and grow the company!
A Business Development Executive should have the following core abilities and experience:
- Be an expert in the company’s products and be able to sell them successfully in any situation.
- Be able to demonstrate a thorough understanding of the company’s industry and markets.
- Have a knack for selling and recognising business opportunities.
- Have an excellent understanding of (or willingness to learn about) customer relationship management (CRM) systems like Salesforce.
- Feel at ease in a goal-oriented environment and endeavour to overcome any obstacles that may prevent targets from being fulfilled.
- Demonstrate effective time management and planning abilities.
To work in Business Development, you must be an excellent communicator, as previously said. Previous sales or customer service experience is a wonderful method to show that you have this talent as well as a customer-centric mentality. A business degree can also help because it demonstrates that you understand corporate goals and settings.
When it comes to advancement, it’s normal for a BDE to be promoted to a BDM (Business Development Manager). Taking on additional responsibility for the planning and development of the company’s growth strategy is likely if you move into this position. You can also expect to be in charge of evaluating the effectiveness of the business development team and managing more junior employees.
- The average salary of a Business Development Executive is INR 3 LPA
- The highest salary of a Business Development Executive is INR 7 LPA
Alternative job titles and related roles:
While positions may have various titles and be located in slightly different departments, many of the same tasks apply to them. Anyone embarking on a job hunt should be aware that roles sometimes overlap, so read job descriptions carefully and perform your own study into specific positions to see if they’d be a good fit for you. Here are some job titles with responsibilities that are typically quite similar to those of a Business Development Executive to give you an idea of the range available…
- Strategic Account Manager/Executive
- Business Development Representative
- Client Relations Executive
- Sales Executive/Representative
If you like what you see and think Business Development would be a good fit for you, take a look at our Current Vacancies on our website
Jagpreet is a Digital Marketing Expert and EdTech enthusiast. Having a total experience of over 11 years, he has been working in the Education industry for the past 6 years. Over the years, Jagpreet has mastered multiple trades such as Web Development, SEO, IT, Content Writing, Graphic Designing, etc. He is an extremely tech-savvy individual who loves gaming.