Business Development Job Description and Salary Details

Last Updated on June 4, 2022 by Admin

We are here to help you easily understand what exactly business development is, its roles and responsibilities, skills required, etc. Read more to know about the business development job description and salary details. Also, you can find here the business development executive job description, business development manager job description, business development executive job role and business development associate job description, etc.

Also, kindly check below the business development executive job description, manager of business development job description, business development job description, business development executive job description resume, business development associate job description, business development executive job role, business development executive job responsibilities.

Table of Contents

What is a Business Development Job Description?

Business Development can be simply explained as the ideas, initiatives, and activities that are aimed towards making a business better.

A business development job description is a detailed overview of the job profile duties and responsibilities carried out by the various tiles under the business development (BD) job.

This also includes increasing revenues, growth in terms of business expansion, increasing profitability by making strategic business decisions, and building strategic partnerships.

Related Posts:

Business Development Job Description

Following are the important business development job profiles;

Business development associate
Business development executive
Business development representative
Business development specialist
Business development consultant
Business development manager

Skills Required For Business Development Professionals

The essentials skills for the business development skills for BD job description are;

Networking skills
Communication skills
Negotiating skills
Technical skills
Analytical skills
Business acumen
Interpersonal skills
Collaboration skills
Organizational skills
Problem-solving skills
Business writing skills
Believes in Inbound Marketing
Understanding the ideal customer
Sets Goals and Develops Action Plans
Sets Realistic Expectations with Clients
New and unexplored market opportunities
In-Depth Knowledge of the Construction Business
Competitor developments and industry benchmarks
Ability to recognize opportunities that bring in long-term value
Analyzing data in order to discover out of the box opportunities
The current state of the construction industry and growth projections
Knowledge about cost areas and the possible options for cost-savings
Familiarity with your customer relationship management solution (CRM)
To be updated on developments in infrastructure and government projects
Should have the long-term view, especially with regards to the initiatives being proposed
The idea about new domains/products/sectors eligible for business expansion, which may complement the existing business

Duties & Responsibilities

Important duties and responsibilities included under the business development job description are;

In Associate / Executive Role

Managing all the new leads and updating them
Process documentation, monitoring, and reporting
Contacting potential customers to line up meetings
Planning and overseeing new marketing initiatives
Attending conferences, meetings, and industry events
Make a robust database of clients who are often approached
Keep records of sales, revenue, invoices, etc.
Qualifying new business opportunities by using a consultative approach
Help clients with a product demo and gear usage training and soft queries.
Building and Managing Relationships with Potential and Existing Customers
Retain the prevailing clients and further probe them to enhance business opportunities
Establishing report and setting up meetings by contacting potential clients via email or phone
Researching organizations and individuals online and social media to identify new leads and potential markets
Prospect database development
Presentations to prospective clients
Have a very good understanding of technology
Understand and gather customer requirements
Arrange business meetings with prospective clients
Generating new business leads and setting appointments
Prospecting new clients via different campaigns
Contribute to pre-established company goals.
Understand the target markets and make market strategies to draw in clients

In Manager Role

Increasing client base
Writing business proposals
Negotiating with stakeholders
Drafting and reviewing contracts
Developing growth strategies and plans
Keep records of sales, revenue, invoices, etc.
Develop entry-level staff into valuable associates
Following industry trends locally and internationally
Provide trustworthy feedback and after-sales support
Managing and retaining relationships with existing clients
Reporting on successes and areas needing improvements
Building long-term relationships with new and current customers
Conduct research to spot new markets and customer needs
Researching business opportunities and viable income streams
Identifying own business strengths and customer needs
Having an in-depth knowledge of business offerings and value proposition
Develop a growth strategy focused both on gain and customer satisfaction
Promote the company’s services/products addressing client’s requirements

Qualifications Needed For Business Development Roles

The essential qualification for the business development job description and BD job profiles are;

For Associate roles:

Any graduation degree
Educational background in business, accounting, and economics would be appreciated

For Manager roles:

Experience in sales, marketing, or related field is required
*A top MBA can help you get to senior management-level jobs.

Experience

Experience in sales, financial services, investment banking or management consulting would be appreciated for business development professionals. Kindly check the business development jobs salary details.

Depending on the business requirements, experience for business development specialists usually consist of a mixture of the following:

Sales
Finance
Marketing
Mergers & Acquisitions
Legal
Strategic Management
Proposal management
Experience with similar services

Business Development Professionals’ Salary Details

The latest business development executive salary trends for the business development (BD) job profiles are;

Business Development Manager salary

The average basic salary in the US: $71,271 Per Annum
The average basic business development manager salary in India: is INR 8,44,853 Per Annum

BD Associate/Executive salary

The average salary in the US: is $69,134 Per Annum
The average salary in India: is INR 4,43,903 Per Annum

If you are looking for a job opportunity in the business development (BD) domain, kindly check the above deeply explained business development executive, business development manager JD, and salary details to make an informed decision.

Conclusion

Hope you liked the above business development job description and salary details. Every business needs business development professionals. If you have the networking skills and go-getter attitude to meet people and accept challenges on daily basis then this is the best profession for you.