Business Development Executive (BDE) & Roles and Responsibilities

A business development executive is a business growth professional who makes and implements development strategies for a business. He or she establishes networks and maintains relationships with new and old customers to make them stay with the business in the long term. The main aim of business development executives is to use their skills and expertise to generate sales leads.

A business development executive is responsible beyond this networking and generating leads by focusing on improving the quality of goods and services in a business. As the customer is king, providing quality products is a key focus point of any business. He or she continuously researches relevant market trends, analyses competitor strategies, and develops sales strategies to get a competitive edge. Read more to learn about how to become a business development executive.

Business Development Executive Job Description

The job description of business development executives is to work around development and sales strategies within the business. Business Development Executives are responsible for generating sales leads by finding new business opportunities.

They develop and execute business plans to meet sales targets for revenue and profitability. Client retention is crucial for a business to sustain itself in the long term; hence, the Business Development Executive work description will include building strong relationships with existing and potential clients.

Business development executives also prepare prospects and presentations to showcase business products to potential clients to generate leads. They research and analyse industry trends and keep an eye on competitor activities to make their sales and development strategy more effective. Along with these, the Business Development Executive Job Description also includes the individual being responsible for working with other departments of business to make effective decisions.

Business Development Executive Roles and Responsibilities

The general roles and responsibilities of business development executives include lead generation by reaching out to potential clients through extensive market research and building relationships with old and new customers to make sure that they stay for a long time with the business. Business development executive roles and responsibilities also facilitate communication and collaboration with the teams.

Lead Generation and Client Relationship Building: A business development executive duties and responsibilities include researching the market and identifying potential customers for their goods and services. Regularly, they reach out to customers and adopt various sales techniques to generate quality leads for the business. Not only this but to ensure long-term relations with old and new clients, they work hard to build relationships.

Sales and Target Achievement: Business development executives are tasked to meet the monthly sales target by reaching out to potential clients and using various sales techniques. Their end goal is to close sales and convert them into paying customers.

Market Research and Competitive Analysis: Business development executive responsibilities include being required to conduct in-depth market research to identify target client segments and understand their needs. They must be aware of all industry analyses and relevant practices to ensure their knowledge is updated. Competitor analysis is important to increase the product quality for the overall development of the business.

Communication and Presentations: A business development executive needs to present and communicate business products to different customers regularly. It includes highlighting the key benefits of the product and communicating how the product is different from competitors. A Business Development Executive must present and communicate the right information to potential customers to close the deal.

Collaboration: Business development executives Work effectively with colleagues from various departments like marketing and sales. They maintain open communication channels within the company to stay informed and connect with other teams. Team collaboration helps in the overall growth of a business.

Career Path Progression for Business Development Executive

An individual with a passion for relationship building and fostering business growth may find a good career path in business development. The business development executive position description includes clear progression, with opportunities to advance from Business Development Executive to leadership roles.

Sales Manager: A Sales Manager is responsible for leading and motivating a team of sales professionals to achieve revenue targets. This role involves developing and implementing effective sales strategies, setting individual and team targets, and monitoring performance metrics. The Sales Manager collaborates with other departments to align sales goals with overall business objectives.

Business Development Manager - A Business Development Manager acts as the company's growth strategist. He or she identifies and pursues new business opportunities, like finding new clients or forming partnerships, to expand the company's reach and revenue.

Related

• Free Business Strategy Courses & Certifications
• Online Business Administration Courses & Certifications

What are the Qualifications Required to Become a Business Development Executive?

Anyone who wants to make a career in the field of business development first needs to complete formal education from a recognised board in India. A bachelor's degree in business, marketing, finance, or any related field is primarily required. Along with this, to stand out from other candidates, one can go for a master's degree, which is not necessary but will give a competitive edge.

Bachelor's Degree

• Bachelor of Commerce
• B.Com. Hons.
• Bachelor of Management Studies
• Bachelor of Business Administration

Master's Degree (Optional, but Advantageous):

• Master of Business Administration
• Master of Business Analytics
• Master of Commerce Honours
• Master of Commerce

Business Development Executive Skills

Each duty of business development executive requires a specific set of skills to excel in the industry. Similarly, in the Business Development Executive job role, individuals are required to be equipped with soft skills as well as technical skills to implement business development strategies. Here is the list of these skills that are required to perform business development executive duties:

Soft Skills

• Communication (written & verbal)
• Interpersonal Skills
• Negotiation Skills
• Relationship Building
• Client Management
• Strategic Thinking
• Problem-Solving
• Time Management

Technical Skills:

• CRM & Sales Tools Proficiency
• Lead Generation & Prospecting

Top Recruiters for a Business Development Executive

Top recruiters can help individuals with the perfect job opportunity. Every company sustains its sales performance hence the business development executive responsibilities are very important. Here is a list of the companies that consistently hire for business analyst roles, making job searches smoother and faster.

• Unacademy
• Extramarks
• Axis Bank
• Vedantu
• Freshworks
• Jaro Education
• L'Oreal
• upGrad
• Square Yards
• Flipkart

Business Development Executive Salary in Top Companies?

The job of a business development executive is very crucial for a company to improve its overall development. As per the AmbitionBox website, a Business Development Executive Salary is between Rs. 1.7 lakhs and Rs. 7 lakhs, with an average of Rs. 3.8 lakhs per annum. The salary will vary based on the business development work description, and role.

Source: AmbitionBox

Note: The salary figures mentioned anywhere in the article are just for reference purposes. Actual salaries may vary depending on the respective candidates, employer, job location, and numerous other factors.

Conclusion

A business development executive job duties include being responsible for growing business performance in terms of revenue and profitability. He or she generates leads and builds relationships with old and new customers by adopting various business development techniques. To land a BDE job, one needs to complete his or her graduation in a relevant field and acquire the set of skills mentioned in this article.