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We always play multiple roles like Sales Manager, Business Development Manager, Key account Manager, a lot of similarities we find in tasking when it comes to all these positions
Business development is a broader field as its incorporated the accounting and whole sphere of how you manage your business clients prospect and current in relational ways to be effective and economic, Sales development is usually focused on a pipeline / target market for new business prospects
Basically Business Development is the process going prior Sales and means the process of forming a basis for the further conduct of the sales: the product, channel, customer, strategy, plan. Sales is already deals closing process within the developed Business infrastructure.
First things first. There are two types of activity commonly referred to as “business development,” but they bear little resemblance to each other in both job function and importance within an organization.
In the traditional sense, business development refers to activities designed to expand your organization's reach into a new market -- for example, forming partnerships with other businesses to sell Company X’s product to Company Y’s customers.
The type of business development we’re talking about here, however -- also known as sales development -- is a specialized sales role. Business or sales development reps (BDRs or SDRs, respectively) are tasked with researching, prospecting, and qualifying leads before passing them off to the sales team to further develop and close.
Sales is all about closing. After receiving a qualified lead from a BDR, sales reps take the deals across the finish line. Sales reps might perform some additional qualification in certain circumstances, but their primary objective is to close deals. Sales reps are also responsible for demonstrating the product, handling prospect objections, and drafting contracts.
According to Bryan Gonzalez, a sales development analyst at research and advisory group TOPO, there are two primary reasons why the larger sales process has been split into sales development and sales -- the increased difficulty of reaching buyers and the benefits of specialization.
Reaching a buyer “now requires a larger effort by smarter people,” Gonzalez said. “More research and more touches on a lead are required to connect, and it’s not as valuable to have someone with a quota on their head doing that.”
Very Interesting question and you have to read the whole answer to understand the difference.
I am not going in details but clear to understand perfectly.
Business Development is related with Strategic analysis and Marketing strategies. Again Marketing process is very wide process and one process among those process is sales. Sales can’t do any development without business development because sales is an end user activity in the long process of marketing management.
Marketing Process
Marketing process encompasses a broad spectrum of activities including, market research, product discovery, product production, pricing, promotion, distribution and sales, therefore, sales is just only one activity in the process of marketing .
Sales
Sales is an act persuading or convincing a customer to buy a product or service.
An example for difference : Business Development is like “A HAND” with different figures and consider one figure is like sales and also there are many other items and all of them are interrelated for better marketing process.
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The difference is: in business development, you’re convincing people to make a decision they don’t have to make while in sales, you’re convincing people to make a decision they have to make.
Business development is convincing companies to partner with your company or to do something they don’t have to do but that would likely be mutually beneficial. As a business development professional, you’re supposed to convince people to ignore the downsides and focus on the upsides of partnership while also adding urgency for the person to do it now since the truth is they don’t ever have to do this. Business development can create enormous leverage in value for a business by generating whole new channels for reaching customers rather than just optimizing a single existing channel.
In contrast, sales development officers normally are selling to the end users who need your product to do their job or a procurement officer in charge of buying certain things that people in the company absolutely need to have to do their job. In these cases, the decision maker typically has a lot of choices. So the job of the sales person is to convince the decision maker that one product is better than another. There’s typically a timeline self-imposed due to the urgency of upgrading or getting a hold of a product to help with core business operations. The value of sales beyond generating revenue is talking to the end customers and gaining valuable feedback to incorporate into the product, which you don’t really get clearly from a business development partner.
Full Agree With Answer Given By Mr. Vinnod
Market process and sales process < also agree with MR VINOD
They're generally correlated however sales is more about monthly/quarterly results whereas business development keeps future goals and targets in mind. Business development generally impacts sales at some point.
I Agree with Mr.Vinod Jetley Answer.
Business Development is a long term process adding clientele on long terms rather than focusing on short term goal. Its a broad perspective, It includes customer satisfaction which also focuses on market penetration & market share. It focuses on core values forecasting where we stand & where do we
Sales is a immediate outcome of business development if we are doing X number take it to X+2.
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