Careers360 Logo
Business Development Executive (BDE) & Roles and Responsibilities

Business Development Executive (BDE) & Roles and Responsibilities

Edited By Team Careers360 | Updated on Apr 13, 2024 09:01 AM IST

A business development executive (BDE) 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 customers are the king, providing quality products to them 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.

Business Development Executive Job Description

The job description of business development executives is to work around development and sales strategies within the business. BDEs 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, BDEs work on 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 activities, BDEs are responsible for working with other departments of business to make effective decisions.

What are the roles and responsibilities of a business development executive?

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. They also facilitate communication and collaborate with the teams.

  1. Lead Generation and Client Relationship Building: Business development executives research the market and identify 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.
  2. 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.
  3. Market Research and Competitive Analysis: Business development executives are 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 overall development of business.
  4. 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 BDE must present and communicate the right information to potential customers to close the deal.
  5. 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. 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. This field offers a 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.

Also check - How to Become a Business Development Executive

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

Master's Degree (Optional, but Advantageous):

What are the skills required for a Business Development Executive?

Each job role demands individuals with a specific set of skills to excel in the industry. Similarly, in the BDE 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.

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

What are the top recruiters for a Business Development Executive?

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

  1. Unacademy
  2. Extramarks
  3. Axis Bank
  4. Vedantu
  5. Freshworks
  6. Jaro Education
  7. L'Oreal
  8. upGrad
  9. Square Yards
  10. Flipkart

What is the salary of a Business Development Executive in top companies?

The job of a business development executive is very crucial for a company to improve its overall development. Even the salary figure for a business development executive job position is lucrative. As per the AmbitionBox website, a BDE earns between Rs. 1.7 lakh and Rs. 7 lakh, with an average of Rs. 3.8 lakh per annum.

Top CompanyAverage Annual Salary
Extramarks EducationRs. 4.5 Lakhs
UnacademyRs. 4.8 Lakhs
Square YardsRs. 3.9 Lakhs
Axis BankRs. 2.3 Lakhs
FlipKartRs. 4.6 Lakhs

Source: AmbitionBox

“The salary figures mentioned anywhere in the article are just for reference purposes. Please treat them as such. Actual salaries may vary depending on the respective candidates, employer, job location, and numerous other factors.”

In conclusion, a business development executive is a business development professional 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.

Also check - How to Become a Business Development Manager

Frequently Asked Question (FAQs)

1. Who is a development executive?

A business development executive is responsible for generating sales leads by adopting various development strategies. He or she works to build relationships with old and new customers to retain them in business for the long term. Improving the quality of goods and services is also important for a business development executive.

2. What is a business development executive salary?

In India, the average salary of a business development executive is Rs. 3.8 lakhs per annum. It can go even more with the experience and expertise.

3. What is BDE qualification?

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.

4. Is BDE a good career option?

Career as a business development executive comes with good growth opportunities, career progression and lucrative pay. Business development is a good career choice as it comes with a diverse set of challenges and experience.

5. What are top skills for a business development executive?

Individuals are required to be equipped with soft skills such as communication, negotiation and relationship building. With soft skills, individuals are required to possess some hard skills.

Articles

Questions related to

Get answers from students and experts

Hi, hope you are doing well.

Yes, Business Development Associate is a good job. They help companies to grow, create business plans, conduct research, develop strategies in business and build relationships between clients.

The  salary of Business Development Associate  in India ranges between Rs 2.5 Lakhs to Rs 10.0 Lakhs and the average annual salary is  Rs 6.0 Lakhs.

Skills required are English, Mathematics, Information Technology, Communication and prior experience in business management.

You can also refer to this link for details:

https://www.careers360.com/careers/business-development-executive

Hope this helps.

Best wishes

View All
Back to top