Growing Startups with Tie-ups
We are witnessing a large number of start-ups mushrooming which gives us a sense that strong environment has been setup by government & other supporting machinery. In order to leverage this atmosphere & fight competition, start-ups are using proactive & innovative steps to lure customers. One of the biggest factors that pull customers towards a start-up is trust.It is difficult for a new business to immediately build trust in the mind of customer. They gain it gradually by providing satisfactory goods/services over time.
Start-ups are tying up with bigger renowned brands to build trust factor. A lot of these start-ups tie-up with banks to provide lucrative offers to customers thereby increasing their engagement with the firm. A fashion designer may tie-up with a fashion house to get better visibility.
Customer feels more confident while buying from a start-up which has tie-up with a big renowned brand as no big brand would associate with a start-up without due diligence in terms of financial backing, compliance with laws & regulations.
Some of the startups who went for relationship for Mutual benefit :
Tie up of Uber and Gaana (Travel and music)
A tie up between travelling and music, taxi aggregator Uber has tied up with online music portal Gaana to offer its riders two months of free music subscription.The Gaana music application, which has 42-million downloads, will wander into in-auto excitement with this partnership.
“Music lovers want to experience uninterrupted music of their choice and with this partnership we aim to give the rider this experience on Gaana,” said Prashan Agarwal, chief operating office at Gaana.
Tie up of AirAsia and Zoomcar (Car rental Service)
Zoomcar, an India-based self-driving car rental company, has collaborated with Malaysian-based AirAsia
The association enables AirAsia clients to book Zoomcar for its nearby and intercity self-propelled transportation. Situated in 26 urban areas crosswise over India, Zoomcar rents vehicles on hourly, every day, week by week, and month to month premise.
“The door-to-door delivery experience enhances customer comfort and convenience and to leave them with a memorable experience of self-drive time and again.”, said Greg Moran, Zoomcar’s co-founder and chief executive, said
Tie up of OYO and ItzCash(Convenient Stay and Easy Payment)
To encourage installments for Hotel appointments, Budget inn aggregator OYO has collaborated with advanced installments firm ItzCash.
With this tie up, OYO will access 75,000 physical and advanced retail touchpoints of ItzCash. Where it will help Itzcash to fortify its grasp on the computerized arrangement, OYO will have the capacity to give its shopper an alternative to pay for inn appointments without using debit or credit cards.
This tie up would help OYO to reach larger number of customers who transacts through offline mediums.
Tie up of Express Bike works and Hindustan Petroleum Corp. ltd.(Franchising)
Automated bike wash startup Express Bike Works has tied-up with Hindustan Petroleum Corporation Limited (HPCL) for setting up franchisee outlets at their 12000+ locales crosswise over nation. In spite of the fact that HPCL isn’t a startup, the tie up will forcefully extend Express Bike Works’ span the nation over, making it as productive as any.
On their association with HPCL, Niraj Taksande, Co-founder, Express Bike Works says, “This association has given us a much needed boost to sign-up and set up a store in the least time. Location being the major asset in our retail business, petrol pumps provide us enough traction for an early store breakeven.”
“We have been extremely careful while partnering with a potential franchisee. Expanding through such a model is a critical procedure and to ensure that our brand is in the right hands, we follow strict parameters like the franchisee’s willingness to upheld & maintain the brand’s identity, willingness to trust and follow directions and a passion to succeed by being self-driven” adds Niraj.