What is Business Development? Describe detailed requirements

Business Development is an important position in planning and devising long-term strategies for businesses to develop their business. In this article, 1C Vietnam will introduce in detail the work and tasks of Business Development so that businesses can accumulate a lot of useful knowledge.

1. What is Business Development?

In business terms, Business Development is work related to Sales and Marketing. The mission of employees in this department is to come up with long-term methods to enhance corporate value through developing relationships between the market and customers.

The purpose of Business Development is to develop business strategies based on feasible ideas and profit-oriented goals of the business. Therefore, employees in this position are responsible for convincing customers to learn about, buy and use the products that the business provides.

2. What is Business Developer?

Business Developers are people who hold senior management positions or department heads. This is a position that is highly valued by businesses and has a relatively high salary because they are the ones who bring profits and revenue to the business.

3. Business Development work

Depending on the industry and daily tasks, the Business Development position will deploy different strategies, but in general, the job of this position will usually be:

• Analyze data and customer information: The Business Development department receives information from the Marketing department, then reviews and screens high-value customers and sends it to the Sales department.
• Ensuring relationships with customers: Business Development will contact customers through many different means such as phone, email, media...
• Persuading customers: Business development specialists will coordinate with other related departments to organize presentations about the business's services to customers, convincing them to buy.
• Project proposal: This department will rely on the feasibility of project planning to update products/services.
• Reporting work: Report work progress and project results to management periodically.

4. Roles and duties of the Business Development Manager position in an enterprise

Once you have accumulated a lot of experience and skills, the Business Developer will be promoted to the position of Business Development Manager. This is the head of the business development department, helping to ensure optimal profits for the business. Below are the roles and duties this position brings:

4.1 Role

Business Development Manager plays an important role in managing and organizing the sales team, and knows how to grasp and develop specific methods in improving employee sales efficiency as well as promoting their abilities at work. In addition, the Business Development Manager position must build a strong sales team because these are the faces representing both the business and customers.

4.2 Mission

The Business Development Manager must complete the following tasks:

• Implement business development plans and implement processes to support business growth.
• Build and improve relationships with customers and partners to create favorable conditions for future business development.
• Ensure relationships with old customers, target customers and business partners.
• Build marketing strategies and orient business prospects by identifying customer groups and target markets, thereby implementing market access methods and finding future business development opportunities. close hybrid.

5. 5 skills needed to become a business development employee

To complete KPIs and achieve larger goals, business development staff need to hone many important skills to well implement business strategies. Here are some skills that business development staff need to hone:

5.1 Have a vision and implement business strategies

The Business Development position requires vision to accomplish business strategies. At this time, businesses will consider 3 main components:

• Customers: Research customers, including behavior, geographic area... Then find target customers and create more value for customers.
• Market: Learn and evaluate the market and analyze competitors' business situations... to grasp prevailing market trends.
• Relationships: Improve and leverage relationships with customers and partners based on trust.

In general, businesses can fully utilize the understanding and analysis of the above three components to devise strategies to achieve business goals. Besides, Business Development does not just stop at vision and strategy, they also have to monitor and implement each step in their plan.

5.2 Proficient in CRM software, Microsoft Excel

Creating CRM and Microsoft Excel software is one of the essential requirements that any Business Developer must cultivate. CRM is customer management software, helping to optimize customer care processes and increase customer experience for a business's products/services. In addition, CRM is also used to store and analyze customer information, thereby studying their behavior and needs more closely.

Besides, businesses will often use Microsoft Excel to perform and report work, so Business Development needs to be equipped with basic knowledge to use the software effectively.

5.3 Understand business metrics

If you have experience working in a Business Development position or equivalent, candidates will have an advantage when applying. In particular, understanding business measurement indicators such as sales revenue, equity capital... will also greatly reduce pressure on candidates. Through the process of cultivating knowledge, Business Development will quickly achieve many good achievements and exceed business targets.

5.4 Exchange and discuss with customers

In relationships with customers and partners, it will be difficult for businesses to reach an agreement from the beginning. Therefore, Business Development needs to spend a lot of time on meetings and after-hours discussion appointments. This is the time for Business Development to discuss with partners and customers to find common ground, at the same time better introduce the business and sign a successful contract.

5.5 Expand relationships

As a business developer, Business Development needs to develop communication skills to create opportunities to interact with professionals and potential customers and partners. At the same time, Business Development should also build and maintain a network of connections between individuals operating in the same field or industry to support and facilitate market expansion and develop long-term cooperation opportunities. long.

6. Distinguish between Sale and Business Development

Sales and Business Development are two positions related to reaching customers and developing business strategies. However, these two positions have many clear differences in work. Businesses can consider the following table:

7. How much is the income of the Business Development position?

Besides concerns about what Business Development is, Business development income is also what candidates are most interested in. In businesses, the average salary of Business Development usually falls around 11 million - 20 million/month. With a high starting salary, Business development has become a job loved by many young people.

8. Manage long-term customer relationships with 1C:ERP solution

If your business is looking for solutions to manage long-term customer relationships, increase advantages and overcome technological challenges, 1C:ERP is a great solution not to be missed.

Developed towards businesses globally and applied to all business models, 1C:ERP helps businesses master technology and develop strategies based on many outstanding advantages compared to other solutions. again. As follows:

Strengths of 1C:ERP

• 1C:ERP is an open-logic system that helps businesses master technology and limit dependence on suppliers.
• CRM in 1C:ERP is provided with powerful tools and utilities, helping businesses attract and retain potential customers.
• Quickly customize requirements and integrate industry-specific solutions within the 1C ecosystem and third parties.
• Availability of Vietnamese accounting standards (VAS) and international accounting standards (IFRS) helps businesses prepare combined and consolidated reports for all business models.
• Compatible with multi-platform and most popular database management software and browsers.
• Provides complete modules for businesses to apply to commercial, service, and production operating models.

Benefits when applying 1C:ERP

• Support for improving work processes: 1C:ERP helps businesses connect employees and departments, thereby easily eliminating duplicate work and manual operations, optimizing work processes.
• Customer information management: CRM in 1C:ERP helps businesses track interactions with customers through a reminder system. At the same time, clearly divide customer segments to serve the business analysis process.
• Immediately have a reporting system according to needs: Business developers can completely create reports according to needs and change reporting options without needing to know programming.
• Improve product and service quality: 1C:ERP solution helps businesses synchronize data, check inventory levels and shipping policies, record customer feedback to quickly detect arising problems , improve product/service quality.
• Data management: CRM helps Business Development store documents, special contracts and manage discounts with automatic calculation options.
• Commitment to security: 1C:ERP solution has strict encryption and decentralization capabilities, helping businesses easily manage information and record changes and corrections by users, ensuring information transparency. and operation history.
• Improve investment efficiency: 1C:ERP helps businesses control goals, optimize operating costs, and thereby take appropriate actions to achieve financial goals. At the same time, the 1C:ERP solution will also be compatible with most IT software, browser interfaces and winforms, thereby helping administrators optimize investment value for their digital transformation journey. .
• Optimize implementation time for administrative activities: With technology mastery, 1C:ERP is developed towards global businesses, with the ability to deploy 2 times faster than other global solutions.

It can be seen that Business Development is one of the core positions of an enterprise, the person pursuing a business development plan with the goal of building long-term relationships with customers and partners. Hopefully with the above sharing, your business will have more useful knowledge about Business Development, from which to develop strategies for human resource development and finding talent. If you still have any questions about the 1C:ERP solution, please contact 1C Vietnam's Hotline: (+84)247 108 8887 directly for quick support.

t