Marketing Partnerships A Cost Effective Selling Strategy
Marketing Partnerships A Cost Effective Selling Strategy
A Definition of Partnering
Let's start with a definition of marketing partnerships. It can be defined as: working in collaboration with another organization to mutually benefit each other by leveraging exposure to the client base of each business. This happens by filling a niche your partner does not. For example, a landscape architect may partner with a custom deck builder, a graphics design professional will partner with a copy writer, a real estate agent partners with a lender, a car salesman partners with a body repair shop and the list goes on and on. Partnering is not networking, but rather working together to meet the needs of common customers. Partners refer business to each other and often work together on a project.
How to Select a Partner?
This is the biggest challenge. There is nothing more critical then selecting the proper partner. Begin by identifying the types of companies or industries that deal with your target market or customer base. Determine exactly what you can offer, that your potential partner does not offer, and that customers are requesting. Meet either the principles in the company and get an idea of how they conduct business and marketing in general. If your principles and philosophies match, you may have found an opportunity to work together.
Partnering is about Trust
As in any relationship, your partnership is only as good as the trust that keeps it together. Think of trust as the glue that binds the partnership. If you do not trust a partner, don't work with them. Communication and honesty are critical to effective partnerships as they build trust. Be very open and upfront in your initial work with a partner and have clear standards and operational expectations. Do things for your partner to build trust. Trust is like a bank account, you can only draw on what is in the account. Many partnerships fail because trust is not present.
Partnering involves a give and take of resources. In order to build trust, give until it hurts. This shows your partner that you are committed to them and it builds trust. The best partnerships will involve a give and take from both sides
It Does not Have to be Official
Unless you are actually exchanging money in a transaction, there does not have to be formal contracts or legally binding agreements. Many of the best partnerships and alliances were formed on a handshake because they mostly deal with customer referrals. When money does exchange hands for products and services, it is a good idea to have something in writing; that's just good business.
Developing the right marketing partnerships can literally build a business. Everyone is rewarded as you work with other companies to add value to their customers. Include partnering in your marketing plan and work towards developing mutually beneficial relationships with other companies.
Marketing Partnerships A Cost Effective Selling Strategy - To learn more about this author, visit Thomas Young's Website.
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Partnerships and alliances have long been used as an effective means to market products and services. Customers generally require a variety of services, and no one company can provide it all. Some make the attempt and frequently find it to be a difficult proposition. Customers understand this and are open to working with more than one company because they understand they are getting experts in each area. Here are a few ideas on how to partner effectively with other companies and grow your sales in the process.
A Definition of Partnering
Let's start with a definition of marketing partnerships. It can be defined as: working in collaboration with another organization to mutually benefit each other by leveraging exposure to the client base of each business. This happens by filling a niche your partner does not. For example, a landscape architect may partner with a custom deck builder, a graphics design professional will partner with a copy writer, a real estate agent partners with a lender, a car salesman partners with a body repair shop and the list goes on and on. Partnering is not networking, but rather working together to meet the needs of common customers. Partners refer business to each other and often work together on a project.
How to Select a Partner?
This is the biggest challenge. There is nothing more critical then selecting the proper partner. Begin by identifying the types of companies or industries that deal with your target market or customer base. Determine exactly what you can offer, that your potential partner does not offer, and that customers are requesting. Meet either the principles in the company and get an idea of how they conduct business and marketing in general. If your principles and philosophies match, you may have found an opportunity to work together.
Partnering is about Trust
As in any relationship, your partnership is only as good as the trust that keeps it together. Think of trust as the glue that binds the partnership. If you do not trust a partner, don't work with them. Communication and honesty are critical to effective partnerships as they build trust. Be very open and upfront in your initial work with a partner and have clear standards and operational expectations. Do things for your partner to build trust. Trust is like a bank account, you can only draw on what is in the account. Many partnerships fail because trust is not present.
Partnering involves a give and take of resources. In order to build trust, give until it hurts. This shows your partner that you are committed to them and it builds trust. The best partnerships will involve a give and take from both sides
It Does not Have to be Official
Unless you are actually exchanging money in a transaction, there does not have to be formal contracts or legally binding agreements. Many of the best partnerships and alliances were formed on a handshake because they mostly deal with customer referrals. When money does exchange hands for products and services, it is a good idea to have something in writing; that's just good business.
Developing the right marketing partnerships can literally build a business. Everyone is rewarded as you work with other companies to add value to their customers. Include partnering in your marketing plan and work towards developing mutually beneficial relationships with other companies.
Marketing Partnerships A Cost Effective Selling Strategy - To learn more about this author, visit Thomas Young's Website.
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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