What does a Business Development Representative (BDR) do and how do they get paid?
What is Business Development?
Entry level Business Developers earn 10% to 20% more than sales, marketing, and operations. Why?...
Because they support Business Development Integration Activities across the entire BD value chain.
Here's how they typically get paid:
A Business Development Representative (BDR) earns a base salary and also a commission based on performance metrics. For example, commissions may be based on successful transition of prospects into the Conversion Phase.
Also, commission may be based on the Customer Lifetime Value (CLV), also referred to as CLTV, LTV, or the Annual Contract Value (ACV).
Here's the work they typically do:
RESPONSIBILITIES:
- Assess prospect intent
- Prospect and Customer Communication
- Identify new prospects
- Determine prospect's budget and schedule
- Discover the prospect's problems and needs
- Provide product insights and market intel
- Assess prospect's perception of product benefits
- Identify stakeholders involved in purchasing
- Identify prospect's evaluation factors
- Create and implement account plans
AUTHORITIES:
- Collaborate on Marketing content
- Provide prospect data to Sales
- Provide prospect data to Pricing
- Provide prospect's data to Contracts
- Identify new customer requirements
- Collaborate with Ops to nurture positive customer perception
- Provide customer feedback to Marketing and Sales
- Help Corporate Development identify M&A targets
- Provide information to Community Development team
- Monitor customer perceptions throughout the BD value chain and provide feedback to the Product Development about perceived product quality and possible new requirements.
Tony Gray, BDP
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Learn more in the “Business Development Body of Knowledge (BD-BOK).”
Get your copy of the BD-BOK on Amazon today!
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Boost your BD career with the Business Development Professional (BDP) certification from the Global Business Development Association (GBDA).
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