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.
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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.
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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 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:
- Mergers & Acquisitions
- 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.
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.