How is business development defined?

Peter Mullen / November, 2017

Description

Peter Mullen, Director of Business Development, Accomplio explains business development and what it means.

Video Transcript

How is business development defined?

I define business development kind of by its traditional definition and that is acquiring customers for your company through indirect or alternate channels. By that, I mean through partnerships or through technical integrations, through alternate distribution channels, resellers affiliates, those kinds of things. As opposed to companies hiring a direct sales force and going direct for customer acquisition.

Many companies use this as a very key part of their strategy for various reasons. One they just might be a core piece of technology that requires it to be embedded in other solutions or, perhaps they don’t have the money or the or the resources to cover all the geographies or markets that they might want to target with a direct sales effort. I would say depending on type and size and the maturity of the company, they might embark on an alternate channel, program, using business developers, at some point later after doing direct sales.

QUICK INFO

  • Peter Mullen, Accomplio
  • November, 2017
  • 1:24
  • Marketing & Sales, Business Development

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