What is Web3 Business Development & Sales? Simplified

How to Become a Successful Web3 Business Developer: Modern Guide to Building a Robust Career in Web3 Business Development | The CryptoJobsList Blog

You can’t code but you want to get into web3 as it is something that interests you, and a lot of the roles you see are asking for business development and sales experience for web3 roles, so what exactly is web3 BD & Sales?

Definition

Business development & Sales in Web3 are strategies and activities that focus on growing and selling products or services within the decentralized ecosystem.

Simpler version: strategies focused on growing and selling products or services

What products and services?

• Cryptocurrencies — Example: a cryptocurrency exchange is looking to expand its users and offerings so in this case the BDR would aim to target both experienced and novice crypto traders and highlight the benefits the exchange offers such as the user-friendly interfaces for newcomers and advanced tools for seasoned traders. BDR may also run educational webinars and referral programs to attract users.
• Non-fungible tokens (NFTs)- Example: NFT marketplace launch. BDR would involve partnering with digital artists, influencers, and collectors to create buzz around NFTs through hosting exclusive NFT drops or auctions.
• Blockchain — Example: B2B blockchain solution for supply chain management. BDR would target retail and manufacturing businesses and highlight how the blockchain can provide real-time tracking and tamper-proof records resulting in long term cost savings and improved trust with customers.
• Decentralized apps (dApps) — Example: web3 company develops a unique gaming token for use across multiple online gaming platforms and wishes to attract users. The BDR would target gaming platform developers + players and illustrate the benefits of the token such as in-game purchases, player engagement, special access, and rewards.
• Decentralized Finance (DeFi) services — Example: the company develops decentralized lending platform and needs to attract new users. BDR targets cryptocurrency holders, explaining the benefit of earning interest on digital assets, and may collaborate with crypto wallets and exchanges.

Day-to-day activities of a web3 business development & sales representative

1. Market Research and Strategy Development: research emerging trends in blockchain and cryptocurrency space. For example: identify a growing trend in eco-friendly NFTs-> plan a campaign around eco-friendly digital art.
2. Networking and Partnership Building — attend conferences, webinars, and online forums.
3. Product Demonstration & Sales Pitches — present a demo of a blockchain supply chain solution to retailers and investors.
4. Client Education & Support — educate clients about web3 concepts.
5. Stay up to date with the latest regulations, technologies, and trends. e.g. attending workshops.
6. Collaboration with marketing and technical teams- marketing (targeted campaigns) + developer (product specifics).
7. Lead Generation — identify and reach out to potential leads e.g. LinkedIn to connect with CEOs of fintech companies that may benefit from blockchain solutions.
8. Negotiation and Closing Deals — finalize a deal with online gaming community to use a blockchain platform for in-game purchases.

Overall the main responsibilities of an individual in web3 sales and business development include: acquiring and maintaining relationships with clients, staying up to date with the latest developments within the space, educating clients, sales and negotiation of web3 services, and cross-functional collaboration with different teams.

What is Web3 Business Development & Sales? Simplified was originally published in The Dark Side on Medium, where people are continuing the conversation by highlighting and responding to this story.