Considering the fact that a lot of people lost their jobs in the pandemic of 2020, the entire world was facing a huge wave of unemployment. And now that things are getting a bit better, people are looking for jobs that can make their career stable financially.
One of the most searched-for jobs is that of a business development representative. If you are someone who wants to become one and are trying to find more information on the same, you have reached the right place. Keep reading this article till the end to learn more…
Business Development Representative
While a lot of people might have heard about the position of a business development representative, there might be a number of readers who still do not have a clear understanding of business development representatives.
So, what is a business development representative? Or rather, who are they? In order to know that, you need to understand the field of business development.
Business development is a field of work where companies work for the betterment of the development of other businesses or organizations. This is a sector where long-term values for the creation of an organization and the sustainability of the same are taken into consideration.
In this field of business, actions are taken that will benefit other organizations to get established in their sectors. You might be surprised to know that business development, or BD, was not really considered to be a part of mainstream careers until the mid-2000s. Even now, this career path is not always very well defined, which is one of the main reasons for the confusion that people have that leads to them not taking this line of work seriously.
Business development representatives, or BDR, are people who work in the field of business development. They work to develop relationships with potential customers and retain existing customers. According to Gartner, they are “responsible for generating new business opportunities by qualifying leads and prospecting through existing business accounts to engage with potential buyers.”
Job Description: What Does A Business Development Representative Do?
Now that you know what a business development representative is, it is time for you to learn more about the job description or responsibilities of business development representatives. So here I go!
A business development representative has the responsibility of maintaining a healthy relationship with potential customer. Here are some of the things that a business development representative has to do in their work:
- Preparing pricing and other commercial documents
- Maintaining the growth of the business
- Developing a relationship with the new customers
- Maintaining the relationship with the existing customers
- Conducting surveys
- Creating strategies for developing the business
- Conduct research on the competitors, market trends, company history, leads, and prospects
- Analyze the data for quantitative information
- Finding ways to improve the growth and generate leads for the business
- Promoting the service and products of the company.
Salary: How Much Does A Business Development Representative Make?
What is the business development representative’s salary? This is the next question that a lot of people who want to become one ask. The answer is not that simple. This is because the salary of a BDR is different in different countries. It also depends on a lot of other factors like qualification and experience.
For example, the average annual salary of a business development representative in India is nearly ₹2.5 lakh or $30,000 dollars. This means that they get nearly seventeen to nineteen thousand rupees every month. However, this is just the starting salary. In India, the annual salary can be anywhere from ₹1.5 lakhs to ₹13 lakhs depending on the experience.
On the other hand, the average annual salary of a business development representative in the United States is often $55,000. The minimum salary is nearly $27,000 or and the maximum salary can be $200,000. The salary of the BDR depends almost entirely on the experience and the resume of the applicant.
Qualification: How Can You Become A Business Development Representative?
Now that you know about the job description of BDR and the approximate salary that they get, you might be thinking about how to become a business development representative. If that is something that you are searching for, you have come to the right place.
Want to know the business development representative skills and qualifications? Take a look at them:
- Bachelor of Business Administration or other bachelor’s degree in the field of marketing and business
- Experience in CRM
- Proficient in using MS Office
- Work experience in marketing
- Communication skills
- Time management skills
- Listening skills
- Verbal and written skills
Wrapping It Up!
A business development representative is one who works in the field of business development or BD. They are responsible for building relationships with new and potential customers well as maintaining relationships with their existing and old customers.
In case you were searching for information regarding a business development representative and how to become one, I hope that this article has been of help to you. If there is anything else that I can help you with, please feel free to write them down in the comment box at the bottom of the page.