Online eCommerce stores generate a significant portion of the revenue during the holiday or festive season. This is...
After non-technical positions in the start-up companies, the roles of BD as well as partnerships are most important that need to be considered. But how many of you know that what someone do in this department? Very few numbers of people know about these people and their roles. Below are three things that you need to know.
According to me and my personal experience, BD as well as partnerships mainly consists of three major things: When it comes to talk about the first thing, it is the process of marketing, selling and developing strategies for your company.
In short, doing anything takes to grow the business side – working on user attainment, working with partners to launch integration, figuring out what is wrong and right with engagement, and some other tasks as well. Moreover, the person in the position of BD or partnership role may even be as entrenched and invested as the founders of the company.
While the second surface of the role is to make stronger ties with obtainable partners and to develop new ones that help professionals to develop, grow and maintain your network. For instance – if you are looking to get someone to be familiar with from any social media like Twitter or Facebook on the phone in just next 48 hours, but you do not know any person who either works for Twitter or has information about someone who knows someone working at Twitter, you are in a very big problem.
Making sure you are one degree away from reaching each company is critical for BD and partnerships. Now, the most important third thing is to get the point of transaction and turning it into repeat incidences. To develop a scalable business, every startup is looking to find a way.
You need to look for the moment of transaction and try to repeat it many times in BD and partnerships. If anyone performs it, it can turn a business development role function into a sales role that will then passed into a competent entity to scale out.
Different Types of BD
Mainly, there are few different types of business development, and some major phrases include B2C, B2B, B2D, and B2B2C, are thrown around constantly. So, how many of you all know what they really mean?
Business to Consumer (B2C)
When it comes to B2C, it refers to consumer-facing companies and there are lots of such companies, including Foursquare, Facebook, Instagram, Twitter, Tumblr and many more. In this modern age, one of the most important roles is business development and partnership that taken on by a founder.
Such types of companies are building an API, which other companies can leverage. Moreover, it doesn’t restore the requirement for BD positions, but it replaces the need of a big BD/partnership team.
Business to Business to Consumer (B2B2C) or Business to Developer (B2D)
Normally, B2B2C or B2D is when any company is powering a feature on a third-part website. When any company is trying to sell the product to the team or developer of the company, B2D or B2B2C is taken place. There are some people, who call it the powered by solution.
Aviary, Twilio and some others are great examples of it. However, the deception with both B2B2C as well as B2D is to develop a flexible product and developer portal so interested parties can get what they are looking for.
Three Different Types of Partnerships
When it comes to three different types of partnerships, the first is product partnership that also called Integration partnership. It is when any company integrates another company’s product. While the second partnership is brand partnership that also known as co-branded partnerships.
It is when any two brands come together to do big things together. However, the last one is a distribution partnership which is also known as network partnership. When any one side promotes the other to their user-base, such type of partnership takes place.
So, these are three topics that are the initial points of your introduction to the BD and partnership world. If you have decided to get involved in BD as well as partnerships, you can start reading, researching and networking in the space.
To get more information on B2B business development or to get support from professionals, you can contact us as we can give an appropriate solution to you.