The list of radical changes that have taken place in the business landscape over the past decades would be incomplete without mentioning the rise in the importance of business development executives.
The job of a business development executive, i.e., BDE is treated with much more respect than the past as not only entrepreneurs and managers but also business experts and industry analysts have realized that promoting the business offerings and generating leads is vital for growing sales and revenue.
“Business Development Jobs are inevitable and irreplaceable” – This is a clear conclusion of the long-standing debate over the essentiality and appreciation of these jobs.
Business firms around the world, irrespective of their size, type or industry, consider the contribution of business development executives as extremely significant. Therefore, a hike in the number of vacancies for BDE jobs across several industries has been observed. Whether its BDE IT jobs or BDE manufacturing jobs, both demand and supply have been strong for quite a few years.
Roles and Responsibilities of a BDE
‘Business Development Executive’, ‘Business Development Officer’, ‘Sales Executive’, and ‘Solutions Consultant’ – The job titles might vary from organization to organization, but the job functions are the same. The role of a BDE involves creating brand awareness and arousing interest in the products of the company among potential customers.
Employees performing business development jobs get first-hand information on the mindset, perceptions, preferences, and spending habits of the target audience. They can utilize this information to market the goods or services effectively and build a desirable image of the company. The long-term objective of a business development executive is to establish, strengthen, and maintain relationships with customers.
While business development salary package is often found to be attractive, candidates choose this career option for the sake of passion and not money.
Is Business Development Career Path for you? Continue reading to find out…
Knowledge and Skills Possessed by a BDE
You must have heard of phrases like “Selling is the hardest job” or “marketing is a tough job”. Well, these phrases are not created by a frustrated employee, but they are a reflection of reality. Unarguably, the biggest challenge faced by any business is acquiring customers and increasing sales volume. Business development executives help organizations attract new customers and retain existing ones.
A business development executive can make the company earn new, repeat as well as referral business by developing a strategic approach and positive attitude towards their work.
But how?
It’s a well-established fact that job aspirants willing to pursue business development as a career must possess incredible communication and negotiation skills. However, in today’s fast-paced world, business development executives should also exhibit qualities like patience, empathy, persistence, and consistency.
Along with necessary skills, you even need to gain knowledge of the products to be sold as well as various terms and conditions related to buying the products, for example, guarantee/warranty period, exchange rules, return/refund policy, and so on. Every organization offering business development jobs imparts training regarding their products, policies, and software programs.
Aspirants willing to follow the business development career path should put their heart and soul into learning the product details, marketing techniques, CRM tools, company ethos, and much more. As they have to work with little to no supervision, they must emphasize discipline, self-motivation, and time management. While interacting with any potential customer through phone or web chat, you need to create a favorable impression of your organization on them.
True Essence of Business Development Jobs
It would not be wrong to say that business development executive’s act as a bridge between an organization and customers. Though the prime motive of any BDE is to close a successful deal, you cannot forget that customers are the lifeline of any business. So, you should try to come up with mutually beneficial solutions that work in favor of both customers and the company.
Whenever any existing or potential customer discusses their requirements or concerns with a business development executive, they expect genuine advice. Therefore, you should stand up to their expectations by showing honesty and integrity.
Now you must be getting an idea of why a BDE job is considered a tough job. But don’t let your hopes down as every coin has two sides.
Business Development Salary & Perks
As mentioned earlier in this blog post, the salary package designed for business development jobs is highly lucrative, as organizations tend to reward their employees for undertaking painstaking efforts to boost the revenue. Along with fixed pay, the compensation structure of business development executives also includes incentives or commission for achieving the set targets.
Unlike previous times, job seekers don’t resort to BDE jobs just because they can’t land a decent offer in the field of their interest. A large number of job aspirants adopt the business development career path every year due to their passion for networking, tackling new problems, overcoming obstacles, and finding creative solutions. The improvement in the bottom line of a company they work for, gives a business development executive, job satisfaction and immense happiness.