- Business Development Executive
Who is a Business Development Executive?
Don’t find customers for your products, find products for your customers ~ Seth Godin
Business development executives promote and sell services or commodities to companies, organisations and government agencies instead of directly selling to individuals. Business development executives are important to manufacturers and wholesalers because they are the ones who market and sell the products for companies. A career as a business development executive has quite a number of jobs available, the products they sell may range from beverages, sweets or household appliances to pharmaceutical products. A successful business requires Business development executives who have an excellent product understanding. Business development executives are required to attend meetings and corporate events to meet the demands of the clients and customers.
Business Development Executive in a Nutshell
Business development executives strive to achieve maximum output with minimum input. If you are good at understanding and convincing people, the career as a business development executive can be enjoyable for you. Business development executives are candidates who have been transferred to the sales from other departments. In general, Business development executives are promoted to a management position. There are plenty of work openings throughout the profession because every company requires Business development executives.
Quick Facts for Business Development Executive
Average Salary in India
Male, Female, Others
A career as a business development executive is suitable for everyone regardless of gender. Candidates with outstanding communication skills and a genuine interest in sales and marketing must take this job as their career.
Any special needs
A career as a business development executive is suitable for everybody, including those with physical disabilities. Business development executives work on desks in the office environment. It takes a bit of travelling to function as business development executives. While working, many individuals can face challenges, but we can still say that people with body deformity may work in this field.
Table of Contents for Business Development Executive
What is the role of Business Development Executive?
Business development executive responsibilities are to supply retail products and services to consumers. They work with clients to figure out what they want, to build ideas and ensure a smooth selling process. They can also work by company directories, client reviews, or visits to potential or current clients to find new sales leads. Business development executives are always under tremendous pressure to meet sales targets, and their income can depend directly on their success at work.
Creating a sales plan
A career as a business development executive requires them to view the sales plan as an 'active' document which can be regularly revised. A sales plan is a process that establishes sales targets and marketing strategies to describe the measures that will help to accomplish the goals. Most companies regularly create or change sales plans. A sales plan is the roadmap that Business development executives use to meet their sales targets.
Business development executives' job involves supervising sales performance against objectives which is a foundational principle of any sales management strategy and is important in making a culture that is data-driven. They create a visual sales target that is successful and can have a significant impact.
The job of a business development executive is to determine who are required to improve sales training. Business development executives are responsible for designing, implementing, organising and overseeing educational sessions on sales for the company. Their key goal is to develop the capabilities of employees to achieve improved selling processes and results.
Types of a Business Development Executive
Sales engineer: Sales engineers offer sales strategies to the Business development executives and executives to increase sales. They work closely with Business development executives to schedule, coordinate, and execute strategic deals in complex selling cycles. Sales engineers also plan financial market strategies with sales executives managers.
Purchasing agent: Purchasing agents procure purchased products through the distribution of orders to suppliers; tracking and accelerating orders. They check delivery of goods by comparing received products to ordered goods; addresses shipments with suppliers. Purchasing agents approve payment by forwarding documents for transactions.
Insurance sales agent: Insurance sales agents offer various insurance types. They recognise and reach out to their potential customers through cold calling and other modes of communication. They demonstrate to their client’s various insurance plans and assist them in selecting the best package that fits them according to their requirements.
What is the workplace/work environment of Business Development Executive like?
Business development executives work in both retail and non-retail environments. Business development executives handle sales operations on a regular basis. They work to meet the objectives and goal of the business implementing various sales strategies. They are responsible to meet revenue goals. Business development executives work in an office environment and also have to go out and meet their customers and consumers.
Does Business Development Executive require travelling?
Business development executives' job often includes travelling to meet with the organisation's clients. They also need to visit other companies and attend meetings, workshops and also trade shows. They might also be required to travel outstation in order to meet a potential client or for promotion.
Business development executives work for the company full-time. Work from home can depend on the company 's requirement. This profession does not come up with part-time or hourly-based jobs. They normally work 40 hours a week, with increasingly complicated projects requiring additional shifts in general. Business development executives participating in major initiatives invest more than 40 hours a week.
The nature of employment of Business development executives is only permanent. The sales members operate as part of a team within the organisations. They interact with the managers about the projects and communicate with customers across the globe. Business development executives would need to be able to travel to meet customers and the qualifications for jobs can vary depending on the geographical position of the business
Business development executives operate in both retail and non-retail settings. They work between 40 and 45 hours a week. Working hours may also be extended because of job pressure and deadlines. The role also includes handling all the business related activities in the workplace environment. The work does not need quite enough physical labour, but it requires intellect and mental strength too.
Presence in Geographical Area
Urban cities offer the Business development executives prospering possibilities. As new cities also booming with companies and start-ups are increasing. The opportunities in rural areas are marginal. The job hubs for the Business development executives are Bengaluru, Chennai, Mumbai and New Delhi. In these cities, businesses are expanding rapidly.
Business development executives must perform tasks for a business or entity within a specified time-span. It takes a lot of time, hard work and mental strength to do this work.
Business development executives work for multinational corporations often individually and they typically work for nine hours a day. They have to work around fifteen hours a day, though, when working on major projects. Some tasks require more attention, Business development executives need to extend their shifts over time.
Weekly Hours of Work
Business development executives work around nine hours per day, approximately 40 to 45 hours per week. Business development executives' jobs come under certain shifts, while they may work longer hours in different types of projects to solve the problem.
How to become a Business Development Executive?
What are the skills and qualities required to become a/an Business Development Executive?
Communication skills: Good research and development skills are directly associated with excellent communication skills. Business development executives need to understand the problems clearly, break them down into theories and logically come up with solutions. They also work in teams and primarily communicate with suppliers, clients, partners and Business development executives. Communication skills of Business development executives are a must both in a written and verbal manner.
Flexibility: Flexibility helps Business development executives to manage work environments that meet their needs. It helps workers to sustain a work and life balance which can help employees increase their performance. Flexibility is a personality factor that defines to what extent a person can cope with changing situations and find out creative, innovative ways regarding growing complexity.
Servicing Skills: Great customer service requires meeting and fulfilling customers' expectations. It involves showing the customer how important the customers are to the company by engaging in a friendly and constructive way with them. Customer support is an integral part of providing customer satisfaction.
Persistence: Being persistent is one of the most significant aspects of good selling activity. A definition of persistence is firm or determined continuance in a course of action against difficulty or pressure. Persistence is a highly valued attribute in sales. Sometimes a customer can be rude or insensitive at times. In this type of condition, it is necessary to be able to bounce back, have a positive mental attitude and to go forward.
Also read - Career as Sales Manager
Which certifications and internships can be helpful in becoming Business Development Executive?
Internships are opportunities that an employer provides for promising students to work for a short time period. Interns are generally graduate and most training opportunities programmes vary between one to six months. Interns are often grouped with other managers who act as mentors. Sales interns support the manager and senior staff while gaining experience in conducting administrative and entry-level duties. Sales interns perform research, make calls and send emails, update documents, attend meetings and maintain relationships with customers.
Career Path Progression for Business Development Executive
Advertising Sales Agents- Advertising sales agents offer advertising space on behalf of their company or advertising agency. It is their duty to locate potential customers by making cold calls, sending out emails or providing details on inquiries. Advertising sales agents present data about all of their advertising services. Advertising sales agents may sell advertising space between broadcast television in the print or online editions of newspapers and magazines, or on-air commercial spaces.
Business Development Manager - Business Development Manager responsibilities are to supply retail products and services to consumers. They work with clients to figure out what they want, to build ideas and ensure a smooth selling process. They can also work by company directories, client reviews, or visits to potential or current clients to find new sales leads.
Business Development Executive Jobs and Salaries
Business Development Manager
- Average Salary 50000
- Junior Level Salary 30000
- Senior Level Salary 90000
Business development manager recognizes potential business opportunities, including emerging markets, areas of growth, trends, customers, goods and services. They generate leads and reply to the potential client’s requests.
Within the media sector, salaries are focused around the different divisions and the position that one holds. The pay for professional workers is growing steadily. The average salary for a business development manager is up to seven lakhs a year. At the start of jobs, they earn more than four lakhs a year, and that increases by more than ten lakhs a year to senior level.
Advertising Sales Agent
- Average Salary 70000
- Junior Level Salary 40000
- Senior Level Salary 100000
Advertising sales agents often termed as advertising sales representatives offer advertising space to companies and individuals. They get in touch with potential clients, make sales presentations and manage company accounts. They collect their potential customers' contact information and contact them through cold calling, email marketing or SMS.
Salaries in this profession depend largely on the company and the role that an individual holds. An average salary per annum for advertising sales agents is up to Rs. seven lakhs. They earn more than Rs. four lakhs a year at the beginning of their career which rises even more than Rs. twelve lakhs a year in senior positions.
What is the job outlook for Business Development Executive?
India is a developing country and as its economy expands, many businesses and organisations will be looking for Business development executives who could significantly boost the profitability of the business by developing better and innovative marketing techniques. Business development executives' employment depends on businesses and industries. Many businesses hire professional Business development executives rather than an in-house sales force and this can impact job opportunities. Technology is also having a significant impact because advances in information technology have made the job simpler, requiring fewer employees to handle more customers. Technological developments, however, often trigger increased demand for goods, creating a need for representatives to market them.
Frequently Asked Questions for Business Development Executive
Que. What are the duties of a Business development executive?Ans.
Business development executive responsibilities are to serve consumers by selling goods and meeting consumer needs. They often provide service to existing customers, receive orders, and create new customers through the planning and organising of regular work schedules.
Que. What is the meaning of a Business development executive?Ans.
A Business development executive is an individual who sells commodities on behalf of an organisation, generally moving away from the premises of their own company to identify and sell products to clients.
Que. What are sales skills?Ans.
Writing and presentation skills are required when communicating through email, social media, web conferencing or in person. Salespeople will need to be able to efficiently connect during the selling process, from cold outreach and follow-up to moving an opportunity along.
Que. Write about retail Business development executive job descriptions.Ans.
Retail Business development executives job description include collaboration with the team of retail sales members to provide outstanding customer support, remind consumers of deals and special offers. They handle merchandise returns and perform price and features comparisons to encourage purchases.
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