What Does A Business Development Executive Do?
A business development executive helps in boosting a company’s business and sales by finding new clients and opportunities. They utilise research and marketing to analyse customer needs and coordinate with the sales team to create an effective sales strategy to promote new products. They monitor sales and track relevant KPIs to evaluate the business strategy and optimise it for more sales. Business development executives leverage marketing tactics and outreach for lead generation and use their negotiation skills to build long-term relationships and close contracts with potential clients.
Business Development Executive Skills And Qualifications
Business development executive is a dynamic role that directly impacts a company’s business and revenue. So a successful business development executive candidate will have various prerequisite skills and qualifications needed to negotiate this role’s different challenges. Here are some of them:
- Ability to analyse market trends
- Leadership and strong communication skills
- Nuanced understanding of company’s goals and business model
- Ability to create actionable marketing strategies
- Problem-solving skills
- Ability to network and build lasting relationships
Business Development Executive Experience Requirements
A Business Development Executive should have proven experience in business development or sales as it is a challenging role that requires business nous, marketing skills, and analytical ability. Candidates should have experience in conducting marketing research and creating actionable strategies while collaborating with teams responsible for marketing and product development. They should also have a track record of success in achieving sales targets.
Business Development Executive Education And Training Requirements
As business development executive is a dynamic role, the qualifications and requirements may vary depending on the organisation. Candidates should have a bachelor’s degree in business or marketing, as it is the minimum qualification required for business development programmes. Candidates may even require a master’s degree in business administration, depending on the organisation’s needs.
Business Development Executive Salary Expectations
According to Indeed Salaries, the average salary for a business development executive in India is ₹3,03,775 per annum. The salary may vary depending on experience, location and company.
Job Description Samples For Similar Positions
There are similar positions in the industry like account executive, sales manager, and business development manager. You can review the job description samples for these positions while creating your Business Development Executive job description:
Business Development Executive Job Description FAQs
What is the difference between business development executive and account executive?
Business development executives identify new ventures, opportunities, and leads for the company, while account executives nurture relationships with existing clients to retain their business and keep them satisfied. A business development executive emphasises on increasing a company’s revenue by acquiring new clients or identifying new markets for business growth. Meanwhile, an account executive works closely with existing clients to understand their needs and helps to generate revenue by retaining them and upselling offers.
What should you look for in a business development executive resume?
While hiring a business development executive, a candidate’s resume should have a proven track record of closing sales and increasing revenue. They should be experienced in business development and have a nuanced understanding of industry trends alongside the nous to leverage it into actionable business strategies. An ideal business development executive candidate will also be an analytical thinker and great communicator who proactively seeks to keep learning and developing themselves professionally.
Who does a business development executive report to?
A business development executive often reports to a director, vice president, or a senior manager of sales or marketing, depending on the organisation’s structure. As a business development executive seeks to find new profitable opportunities for the company, they usually have direct contact with the leadership. They might also work with other departments like marketing, finance, and product development to create and implement strategies that can boost the company’s revenue.
How can you make your business development executive job description stand out?
You should clearly outline the responsibilities of the role, the qualifications required, and the organisation’s expectations from the candidate, including specific metrics for success. Using a compelling tone to emphasise the company’s culture can also prove to be helpful in giving the candidate a tangible idea of how it would feel to work at your company. Also, you should include perks, benefits, and opportunities for future growth to ensure that your job description attracts top-tier talent.