Whole Customer Journey
Explain your selection here: Around 27% of our B2B users are coming to us for issues related to Govt contracts, tendering process, delays in payment, cases of bribe or favouritism from Govt Officials and similar issues (we call them B2G segment). 40% of them are direct customers of OfBusiness.com and the remaining 60% of them could be potential customers who purchase such raw materials at a very big volume.
Step 2
Map the user journey for your product on whimsical. Identify gaps in service, possible customer pain points, and customer requests for a particular feature. Based on your analysis, explain if the partnership can close gaps in service, solve for customer pain-point. Can you build the requested feature yourself? If no, can partnership solve for this?
Post whimsical links/images here : A good number of products for common users engaged in Building and Construction Businesses
We can first list on each other’s website to see the engagement and secondly after the delight moment or when the RTIwala user’s issue is resolved and they’re happy we can introduce OfBusiness to them. Similarly, OfBusiness do a small survey and proposes our solutions to their users who are engaged in Govt Contracts and Tendering.
Step 3
Conduct a litmus test to check whether your product is ready for partnership.
Question | Yes/No |
---|---|
Do you have Product-Market Fit? | Yes, we’ve processed 12,000 Orders and gathered more than 39,000 users so far out of which around 27% of users are those who participate in the Construction or Public Tendering process. We’ve 6:1 LTV : CAC ratio as our LTV is 649 and CAC 92. And, around 30% of the customers are coming through WoM/Referral. |
Are you finding it difficult to acquire new customers or enter a new market? | Yes, it is a little hard for us to reach more customers from that Construction/Govt Contractors. |
Are you looking to drive power usage? | Yes, as you can see most of those customers have an average transaction of 7.9 |
Do you have customers making requests for an integration? | No, not as such but we’ve a common customer base. |
Final litmus test result: Almost every customer of ours in the B2G segment can be a potential customer for OfBusiness.com whereas around 70% of their customers who are somewhat dealing with the Government, directly or indirectly can be benefited through us.
Apply the Partnerships Framework
Go to each page to step-by-step formulate your partnership strategy
State the following for your product:
Explain your ICP here: CXO at Rs 5-100 Crore Construction Firm residing in Tier 1/2 City. Engaged in Govt Tendering/Construction business from 0-5 years or more.
Mention your brand values here:
Explain your current market here:
Share your list of possible partners here: 1. tenderdetail.com 2. tendernews.com 3.tendersinfo.com 4. thetenders.com 5. tendersontime.com 6. globaltenders.com
Perform a partner fitment test using the template below
Questions you should ask | Partner 1 | Partner 2 | Partner 3 | Partner 4 | Score |
---|---|---|---|---|---|
Is our goal aligning? | Yes | Yes | Yes | Yes | 4 |
Do we have customer requests? | Maybe | No | No | No | 0.5 |
Does our ICP match? | Yes | Yes | Yes | Yes | 4 |
Will our brand image improve? | Yes | Yes | Maybe | Maybe | 3 |
Do our brand values match? | Yes | Maybe | Maybe | Maybe | 2.5 |
Can I increase the price of my product after the partnership? | Yes | Yes | Yes | Yes | 4 |
Will the partnership let me enter new markets? | Yes | Yes | Yes | Yes | 4 |
| |
Create a list of possible PoCs
Mention your PoC list here :
Use the decision framework to finalise your first outreach PoC
PoC Contender | Do they have high intent to make the partnership successful? | Would their motive align with you to make the partnership successful? | Are they likely to respond quickly? | Have they worked on partnerships in the past? | Would they have the bandwidth to pull off the partnership? | Can they align various stakeholders and teams to build the partnership? | Score |
---|---|---|---|---|---|---|---|
Contender 1 | Yes | Maybe | Yes | Yes | No | Yes | 4.5 |
Contender 2 | Yes | Yes | Yes | Yes | No | Yes | 5.5 |
Contender 3 | Maybe | Yes | Yes | Maybe | No | Yes | 4 |
Contender 4 | Yes | Yes | Yes | Yes | Yes | Yes | 6 |
Contender 5 | Yes | Yes | Yes | Yes | Yes | Yes | 6 |
Contender 6 | Yes | Yes | Maybe | Maybe | Yes | Yes | 5 |
Scoring Method Yes - 1; Maybe - 0.5; No - 0
Create your first call design with the partner PoC. Divide it in terms of what you will do:
Before the call
Research your partner’s current goals (what do they talk about on their website, social handles, content blogs, recent events, other resources)
Write partner’s current goals: Solving buyer and seller issues, resolving disputes related to late or no payment
Do these goals align with your current goals?
Justify your reasoning here: Yes, issues related to late or delayed payment, wastage of raw material and stalemate of the projects are some of the bigger concerns for all of us
Why should the partner consider you? Perform a competitive analysis + identify mutual customer pain points to find your edge against the competition
Competitive Analysis Template
Comparison Metric | RTIwala | OnlineRTI.com | FileRTINow | Local Lawyer | Any Law Firm | ||
---|---|---|---|---|---|---|---|
Metric 1 : Number of customers | >10k | >100k | >40-60k | <1k | <4k | ||
Metric 2: Success Rate | 93% | Around 50% | <50% | <30% | <40% | ||
Metric 3 Customized Offerings | Yes | No | No | No | No | ||
Metric 4 : Big overlapping customer base | Yes | Maybe | Probably no | Certainly not | Certainly not | ||
Metric 5 : Dedicated Partnership Team/Division | Yes | Maybe | Probably no | Certainly not | Certainly not | |
Create a value prop for your partner
Submit your value prop design here : RTIwala has a dedicated Partnership Team which will help in achieving the common objectives of the partnerships. Secondly, RTIwala has recently started getting reactions vis-a-vis existing players but we were more focused on Client’s success where the OfBusiness and our values are aligned and make us a much better partner than any of our competitors.
During the call
Create a conversation design for your first call with your partner PoC. Set expectations, discuss how your joint solution benefits mutual customers, build trust, outline deliverables
Optional: Take a feeler on possible GTM opportunities you could explore
Submit your conversation design here: Chronology: Quick intro of the teammates, particularly the Partnership Lead. Followed by understanding and experience of our mutual customers. Scope of partnership: What is included and what not along with why. Common Minimum Milestones along with Phases of Partnership Development GTM of those 3 Phase plan Partnership succession plan Crisis mitigation plan, arises
After the call Create a summary that you’ll send to your partner PoC
Submit your summary here: Sharing a brief summary of the discussion and next course of action along with meeting date/time availability.
Mention your stakeholder and team concerns for this partnership. Explain how would you address each concern.
Stakeholder concerns: Briefing the key stakeholders, gathering the common ICPs and then testing the partnership with limited people
Product team concerns: Customise post check-out/transaction page and message.
Marketing team concerns: Creating co-branded marketing assets
Sales team concerns: Pitching offering to their select repeat/loyal customers
Solving for trust and engagement with the partner
Strategy for trust building: Direct access to the CEO’s contact number and his dedicated weekly office hours for the Partnership project. Weekly/bi-monthly progress check and course correction strategy for better alignment of resources. Dedicated SPOC and human resources.
Strategy for improving transparency: Common dashboard for the lead capturing, GA4 Sharing link and bi-monthly progress review meetings.
Strategy for increasing engagement : Dedicated fund for paid campaigns, joint campaign development and review meetings. Detailed User research before new campaigns and a dedicated CS personnel for campaign success.
Before creating your GTM strategy, answer these questions:
What is the problem you are solving for? : Helping businesses engaged in Govt Tendering/PWD Construction to get responses, dues and timely responses from the Govt and assisting in Govt Tendering process.
Is there a demand for your offering? : Revenue expenditure of India's central and state governments on public works in FY 2018 was Rs161,000,000,000
Who’s your brand offering for? CXOs and Managers of Businesses engaged in PWD/CPWD Tendering
Where does your ICP spend most of their time? : Field, Government Offices, YT, Facebook and Whatsapp
Co-marketing Activity | GTM stage (Pre-launch, Launch, Post-launch) |
---|---|
Creating FOMO for the people engaged in CPWD/PWD/Govt Procurement/Tendering through social media posts + website banners | Early Pre-launch |
Opening the registration for the early adopters through social media posts + newsletters + WhatsApp/SMS those who opted in | Late Pre-Launch |
Offering discounts and coupons to registered early adopters via Email/WhatsApp | Late Pre-Launch |
Launching the Co-branded webpages at OfBusiness & RTIwala website | Launch |
Offering discounts and coupons as website banners for more awareness | Launch |
Bragging the traction/numbers | Post Launch |
Doing polls and Q&A sessions with Delighted users | Post Launch |
Bragging 100 user cases/delighted customer testimonials | Post Launch |
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