Growth 101: The Difference Between Sales, Biz Dev and Growth Hacking


7 days, 3 Entrepreneurs, 1 common common goal: growth, 1 dreadful feeling: confusion. That’s the reason why I put together this all-in-one-place glossary because you may be building your team and feel this way too.

Sales: The activity or business of selling products or services.

Salesperson: A skilled professional that educates a potential buyer on the features/benefits/solutions of a product or service to fulfill the sales function of a business.

Business Development: Tasks and processes to develop and implement growth opportunities within and between organizations.[1] It is a subset of the fields of businesscommerce and organizational theory. Business development is the creation of long-term value for an organization from customersmarkets, and relationships.[2]

Business Developer: A skilled professional that looks for ways to bring in more revenue to a company. This can mean anything from looking for new markets, partnering with other companies, selling new products to existing markets, or developing new products or services for a global market. The business developer must keep abreast of competitor’s strategies, such as their marketing plans and new products. In addition, the developer must have an in-depth knowledge of his company’s own products, marketing strategies and key demographics.

Other Duties: A business developer may also have responsibilities that come close to marketing and advertising. For example, the company may ask the developer to help the business create new products and market them as well. A business developer might also have to find new clients, negotiate with them and close those deals.

 

Growth Hacking: A process of rapid experimentation across marketing channels and product development to identify the most effective, efficient ways to grow a business. Growth hacking[1] refers to a set of both conventional and unconventional marketing experiments that lead to growth of a business.

 

Growth Hacker: A person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth … “The right growth hacker will have a burning desire to connect your target market with your must have solution. They must have the creativity to figure out unique ways of driving growth in addition to testing/evolving the techniques proven by other companies.” Sean Ellis

 

Was this helpful? Like or start a conversation by posting your comment below!

 

Joy & Coffee,

Michelle

 

*Sources:

http://www.businessdictionary.com/definition/sales.html

https://en.wikipedia.org/wiki/Business_development

http://smallbusiness.chron.com/responsibilities-business-developer-34962.html

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