TABLE OF CONTENTS
- WHO IS A BUSINESS DEVELOPMENT EXECUTIVE?
- HOW MUCH DOES A BUSINESS DEVELOPMENT EXECUTIVE EARN?
- ROLES AND RESPONSIBILITIES OF A BUSINESS DEVELOPMENT EXECUTIVE
- SKILLS REQUIRED TO BECOME A BUSINESS DEVELOPMENT EXECUTIVE
- A GUIDE TO BECOME A BUSINESS DEVELOPMENT EXECUTIVE
- HOW TO STAND OUT IN BUSINESS DEVELOPMENT EXECUTIVE INTERVIEW
- TOP COMPANIES IN INDIA TO HIRE BUSINESS DEVELOPMENT EXECUTIVE AS FRESHERS
- FUTURE OUTLOOK
I. WHO IS A BUSINESS DEVELOPMENT EXECUTIVE?
A business development executive is the one who is responsible for the growth of a business, one who enhance the sales of the company by coming up with new strategies and plans to increase the customer base and business of the organization. A business development executive should understand the needs of the customers and provide services accordingly. They tend to be dynamic and play a significant role in the company.
II. HOW MUCH DOES A BUSINESS DEVELOPMENT EXECUTIVE EARN?
- Salary of a business development executive depends on different standards such as dynamic skills of a person, different level of knowledge etc.
- Average salary of a fresher who joins as BDE is approximately Rs.25000/- per month.
- Salary in this field Ranges from INR 1.71 Lakh per annum to INR 6.16 lakh per annum for a fresher.
III. ROLES AND RESPONSIBILITIES OF A BUSINESS DEVELOPMENT EXECUTIVE
- Get completely familiar with the products and services being offered by the company, and regulate them according to the needs of the customers.
- Create plans to enhance sales and attract customers for the growth of the company.
- Represent company at conferences, meetings and events for the promotion of the company.
- Create business proposals to enhance the sales of the company.
- Find new clients for the company and encourage them to purchase new products and services offered by the company.
- Build strong relationship with customers and maintain relationships through constant follow ups via emails and calls.
- Keep a check on customers and clients feedback and work accordingly.
- Giving recommendations to enhance the quality of the existing products and services and identify new products to be offered by the company according to the needs of customers.
- Keep a check on the consumption trends and patterns of the consumers to offer services accordingly.
- Hire suitable candidates and provide them regular training and mentorship, and plan their progress.
IV. SKILLS REQUIRED TO BECOME A BUSINESS DEVELOPMENT EXECUTIVE
Business development executives are supposed to play different roles in an organization therefore they must have diverse skill sets.
- Email management Skills- Required for maintaining relationship with customers and for follow ups.
- Managing Customer Relationship Management (CRM) software – A business development executive is required to manage leads, customers etc. and maintain relationship with them. Working knowledge of CRM software like Salesforce, Zoho CRM etc. would benefit a lot.
- Operating online meeting tools - A business development executive needs to arrange online ZOOM meetings, Google meet etc. to take updates and communicate with customers.
- Search Engine Research Skills– A business development executive needs to hire potential candidates for the vacant job position, conduct market research to increase customers and many more that’s why he/she must have a good knowledge of search engine research.
- PowerPoint skills – A BDE presents the solutions/offerings to the customers. Ability to present the offerings in well-crafted PPT is highly recommended.
- MS Excel skills - MS Excel skills are required for contact generation, lead management, accounts management etc.
- Cold calling, email campaigns and social media campaigns - A business development executive requires to do campaigning and marketing of the company to enhance its sales and clientele. Knowledge of email and social media campaigning can be an added advantage.
- Strong knowledge of social media platforms - Promotion and enhancing sales of company is one of the core responsibilities of a BDE, and social media these days are one of the great platforms for marketing so it is important for a BDE to have good knowledge of social media platforms.
- Knowledge of marketing automation software - A business development executive often aligns with marketing department. Working knowledge of marketing automation software can be an added advantage
- Communication skills – Good communication and writing skills is the key for BDE roles. A BDE must have the ability to put their point forward with confidence. Click here to learn and improve your communication skills.
- Decision making skills - Executives need to make Quick decisions from adopting new market strategies to changing long term policies.
- Management skills - Executives need to manage many things, from teams to clients therefore a Business Development Executive require management skills.
- Problem solving skills - A BDE should have presence of mind, he needs to deal with multiple problems and work in dynamic areas.
- Time management skills - BDEs need to play many different roles, from dealing with clients to mentoring the employees, it is very important that they possess time management skills.
- Negotiation Skills – The ultimate aim of BDE is to generate business. Negotiation plays a key role in generating businesses.
- Observational skills - Executives need to train employees and prepare performance reports that’s why, one should have observational skills to observe capabilities, attitude, skills and personality of employees.
Minimum skills required
The minimum skills needed for an entry-level job as a BDE are as below:
- Basic Understanding of Microsoft Excel
- Intermediate level PPT making skills
- Effective Email writing
- Good Communication and writing skills
V. A GUIDE TO BECOME A BUSINESS DEVELOPMENT EXECUTIVE
- One must have scores above 50 percent in 10th and 12th class
- One must have a bachelor’s degree to become a business development executive. Bachelor’s degree in below mentioned fields are preferable.
- BCOM Honors
- BCOM marketing
- BCOM Sales and marketing
- Having a Master’s degree is preferred by companies. Below mentioned post graduate degrees are preferable.
- MCOM in Marketing
- MCOM in Business Management
- Master of Business Administration
- MBA in Marketing
- MBA in Sales
- MBA in Business Analytics.
- One should do internships to enhance skills, knowledge and gain experience.
- Do certifications to acquire all the necessary skills required to become business development executive. For example certification on MS PowerPoint, MS Excel, CRM software etc.
- Build a powerful resume and thoroughly prepare for marketing executive interviews before applying for any internship or job roles related to BDE
- Carry out proper job search across hiring platforms like Naukri, LinkedIn etc. as well as company websites and apply consciously.
VI. HOW TO STAND OUT IN BUSINESS DEVELOPMENT EXECUTIVE INTERVIEW
- Talk confidently and stay Relaxed
- Discuss about past experiences, knowledge and skills related to the job position
- Present your sales pitch and marketing strategies to the employer
- Represent qualities required for job position such as fluency in language, confidence, and good communication.
- One can prepare a sales presentation on any product and present it to the employer showcasing his/her skills and efforts
VII. TOP COMPANIES IN INDIA TO HIRE BUSINESS DEVELOPMENT EXECUTIVE AS FRESHERS
Below are the internship roles that a candidate aspiring for business development executive profile can take:
- Product Marketing internship
- Sales and Marketing internship
- Business Management internship
- Business Consulting internship
- Management Consulting internship
- Business Development internship
Top companies that hire business development executive interns are:
IX. FUTURE OUTLOOK
Business development executives have immense scope. All the businesses require BDE to increase the growth of business. Therefore with the rise of companies in the market there has been massive growth in job opportunities for Business development executives.
Moreover, the demand for BDE is highest in start-ups as early stage business development is crucial for any company’s foundation. As startups and unicorns are increasing day by day, the demand for BDE is increasing rapidly.
If we talk about career hierarchy of a BDE, it comprises of dynamic positions and holds enormous Opportunities and growth in future. A BDE can get promoted to diverse positions such as:
- Business development Manager
- Sales manager
- Senior business development manager
- Regional sales manager
- Inside sales representative
- Regional sales director
- Assistant sales manger
- Inside sales representative
- Account manager
- National account manager
- Global account manager
If you are thinking to start your career as BDE and feel that you possess relevant skills or can acquire required skills, Don’t Wait! Take Action!
ALL THE BEST!!!