Business Development Associate Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a business development associate. You can use our job description template in this article to produce your own. We also provide you with information about the salary you can earn as a business development associate.
Who is a Business Development Associate?
A business development associate is someone who assists companies to increase their growth or sales. They achieve this by making feasible research, formulating business strategies, recognizing new business opportunities, es and building client relationships. Business development associates can be employed in different industries from marketing to information technology. A business development associate is responsible for enhancing the company’s sales and building organizational growth. They achieve this by conducting research and generating progress reports to draft presentations. They also adhere to the standards and policies of the company and guarantee that they are doing the same.
What is Business Development?
Business development simply means formulating long-term processes to boost the values of the organization by building relationships with customers and also boosting your presence in the market. This solely depends on the industry you are working for because different industries but the general goal is to grow the business. The basic requirements by most business organizations for a business development associate is a degree and experience in sales and marketing. If you possess the requisite experience, you can build a successful career in the business world.
Business Development Associate Job Description
Below are the business development associate job description examples you can use to develop your resume or write a job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The following are the duties and responsibilities of a Business Development Associate:
- Monitor sales and coordinate transition and delivery of their products and services
- Discuss with senior management to discuss innovation or development in existing products and services to meet the market demand
- Establish marketing plans to promote the products and services of the organization
- Get contacts of possible customers via cold calling, emailing, and internet search
- Specify and qualify new customers as per the company’s policies and business model
- Organize appointments, calls, and meetings between senior management and customers for discussing new opportunities and for business expansions
- Administer meetings with internal teams and customers to discuss project development and delivery strategies
- Conserve and regularly update the customer database, such as names, phone numbers, and email addresses
- Endorse the business development team in creating a business model, project budget, scope of work document, and business plan
- Aid leadership in contract development, handle negotiations, and perform due diligence
- Guarantee internal teams deliver projects with high customer satisfaction
- Labor with teams to achieve the quarterly or yearly targeted revenue
- Nurture strong relationships with new clients while maintaining existing client relationship
- Gather and maintain client information in the CRM database
- Function closely with staff across departments to implement growth strategies
- Formulate and implement sales strategies, client service, and retention plans, and analyze sales data to inform or update marketing strategies
- Encourage the drafting of business plans, sales pitches, presentations, reference material, and other documents as required
- Indicate strong interpersonal skills with the ability to engage effectively with various levels of management, staff, and client.
- Endeavor closely with the internal team to deliver business services with a high level of customer satisfaction
- Encourage achieving targeted revenues from current and new customers
Qualifications
- A bachelor’s degree in business management, marketing, or a related field
- 1-2 years or more pertinent experience in business development or a similar field preferred
- Outstanding written and verbal communication skills
- Capacity to handle multiple projects simultaneously and work under pressure
- Powerful organization and project management skills
- Friendly and personable demeanor
- Proficient in Microsoft Office and relevant software
- Knowledge in customer relationship management (CRM)
- Proficiency to overcome objections and manage time effectively
- Proficiency to build and maintain relationships with clients
- Powerful presentation skills
- Proficiency to learn quickly and utilizing a new technology
- Powerful business skills
- Proficiency to work well in a team or independently
- Powerful leadership and people management skills
- Proficiency to work under pressure
- Strong attention to detail and accuracy
- Proficiency to work in a fast-paced and changing environment
Essential Skills
- Sales Skills: Business development associates need to possess sales skills to target growth opportunities so that they can recognize the target audience of an organization, build relationships with them and follow them up to work on potential projects. To achieve this, they may need to do cold calling or set up meetings to introduce the products and also discuss the area of partnership and also the benefits stakeholders will get from it.to accomplish this, business associates should possess sales skills such as updating the sales funnel, qualifying the leads, and also building relationships with clients.
- Marketing Skills: Business development associates must possess basic knowledge of marketing.in some companies, they work closely with the marketing departments. Business development associates may have to formulate plans for brand promotion, market expansion and also creating awareness of their new products to attract potential customers. They need to be on the lookout for opportunities to enhance partnerships instead of selling products or services directly to customers. They need to possess marketing skills for them to successfully carry out their responsibilities.
- Communication Skills: good communication skills is the main key to having a successful career as a business development associate. You need to possess verbal communication skills to be confident about your speech. You also need to possess writing communication skills so you can draft documents in your organization. You should also employ your communication skills to build good relationships with clients and also negotiate deals within an organization. Good communication skills will help you to attract potential clients and also help you to retain your current client.
- Project Management Skills: project management is the key to making every project, especially those that pertain to the business successful. Some skills demanded to carry out a project are team management, leadership skills and also monitoring potential risks in an organization. While working on a project, you need to work with an entire team and it is very crucial to know how to lead the team. To achieve this, you need to settle conflicts and also assess the performance to support teamwork. All these skills are very crucial to a developer to manage a business.
- Business Intelligence Skills (BI): this is a very important skill that you possess an extensive understanding of the industry and also the ability to gain experience in the market. While working as a business development associate, you need to enroll in research on the present desires of clients so that you can offer them the products and services that will satisfy them. Business development associates need to evaluate the data to comprehend the size of their target audience, the factors affecting the prospective market, and also campaigns that generate positive responses from the target market.
- Data Analysis Skills and ROI Skills: A business development associate must be very much familiar with how to track returns on investment (ROI) and also utilize the supportive data to present it to the executives of the organization. They employ these metrics based on the sales cycle of the organization, basic requirements, and the industry in which the organization is established. They should have the ability to give special focus to details and also break the pieces of information from a large amount of data gathered. This helps them to know if the company is growing or not. This will also help them boost the company’s growth and have tremendous success in their career.
How to Become a Business Development Associate
If you are considering a career as a business development associate, there are strategic steps you are supposed to follow and they are:
Step 1: Earn a Degree
The first step to becoming a business development associate is to earn a bachelor’s degree in Business management, marketing, finance, or a similar field. This is very much crucial to remain competitive in the job market. You should focus on industry skills and also development in the course of your education so that you can have a successful career. You can also pick up entry-level positions to enter the industry workforce. Bust employers prefer to hire a bachelor’s degree holder for the position of a business development associate and those with advanced degrees can be considered.
Step 2: Select Your Specialty in Your Field
As a Business Development Associate, you may be mandated to select a specialty or a particular part of your field where you want to specialty. Determine which part of your field you want to specialize in and also decide the type of industry you want to also specialize in. Make sure you build your skills and expertise in correlation to that industry so that you can perfectly fit in.
Step 3: Get an Entry-level Role as a Business Development Associate
Once you have acquired your degree in business management or a similar field, you will typically kick-start your career as an entry-level Business Development Associate. You can get this job via an internship or you can get employed through a paid internship. After you have been employed in that organization, you will be placed side by side with a sophisticated business development associate. You should also pursue a certification that correlates with the industry you are working in so that you can perfectly fit into the role.
Step 4: Advance in Your Business Development Associate Career
After you have secured an entry-level job as a Business Development Associate, the next step you need to embark on is to build your career. It takes two years as an Entry-level Business Development Associate to progress in your career as a Senior Business Development Associate. Each position advancement demands that you spend at least 2 years of experience building your career path. Another way to quickly advance in the field is to get a Master’s degree or a certification to boost your career path. Although it is not all industries and companies that demand that you continue your education to advance your career path. Earning an advance e degree and certification can boost your chances of getting employed.
Where to work as a Business Development Associate
A business development associate can work in various industries or companies. They can work in the manufacturing, food & processing, financial, and technological industries. They work in these industries to help them boost their sales. To achieve that, they research the company and then present the findings to the organization so that a new business strategy can be executed. They work for 40 hours per week and they can even work more than that, this solely depends on the industry they work in. They also travel from one place to another to attend conferences and business seminars to enhance their career. They also work in the marketing department or collaborate with the department to achieve their objective. Their work responsibility is very much tedious, they usually multi-task so that they can perfectly fit into the responsibility.
Business Development Associate Salary Scale
The salary of a business development associate varies across countries and here are some countries:
- In the United States, The average business development associate salary in the USA is $58,944 per year or $30.23 per hour. Entry-level positions start their career at $45,000 per year while most competent workers make up to $100,000 per year. The average business development associate salary in California is $70,000 per year or $35.90 per hour. Entry-level positions start their career at $50,000 per year while most competent workers make up to $98,767 per year. The average business development associate salary in New York is $65,000 per year or $33.33 per hour. Entry-level positions start their career at $50,000 per year while most competent workers make up to $107,000 per year.
- In the United Kingdom, The average development associate salary in the United Kingdom is £37,760 per year or £19.36 per hour. Entry-level positions start their career at £29,273 per year while most competent workers make up to £70,000 per year
- In Canada, The average business development associate salary in Canada is $48,500 per year or $24.87 per hour. Entry-level positions start their career at $42,000 per year, while most competent workers make up to $77,946 per year.
- In Australia, The average business development associate salary in Australia is $106,519 per year or $54.63 per hour. Entry-level positions start their career at $73,750 per year, while most competent workers make up to $133,654 per year.
- In Saudi Arabia, The average business development executive salary in Saudi Arabia is 57,000 SAR per year or 29.23 SAR per hour. Entry-level positions start their career at 54,000 SAR per year, while most experienced workers make up to 60,000 SAR per year.