When you’re a service-based sales professional, it’s important for you to be visible in your community. One of the most effective ways to increase your visibility is by partnering up with other businesses.
Today on Above the Noise, Josh Stike offers three tips for proposing a partnership that will benefit your business in a big way.
Creating relationships with other businesses in your area is so critical, because it gives you access to lists and to audiences that you won’t already have. You have a client base, and you have people that you’re marketing to and targeting to. If you create a mutually beneficial partnership with another business in your area, that gives you increased exposure to new audiences.
Tip #1: Find a compatible partner.
Partnerships can be incredibly valuable, but only if each side has something to offer the other. Just because you’re both doing business in the same area doesn’t necessarily mean it’s going to be a good fit, so do your research and find a company whose values align with yours. Then, figure out what each of you have that the other might want. That could be access to a mailing list, or advertising space in your magazine from ReminderMedia or other marketing that you’re sending out.
Tip #2: Plan for success.
Don’t just go in with a vague suggestion that your businesses should work together. Have an actual proposal for how the partnership will play out. For example, if you’re in real estate and the other party is a landscape contractor, you might arrange that all of your clients get a free week of landscaping after closing. This won’t only make a memorable impression on your clients, but it will also offer new leads for the contractor—making it a win-win.
Tip #3: Assume the initial risk.
When you’re proposing a partnership, it’s natural for the other party to be a little suspicious—at least at first. So, give them a reason not to be. Make an agreement where you’ll pay for the full cost of the first few landscaping jobs, just to show them how sure you are that your plan will be successful. You can even offer a free ad for their business in your marketing to sweeten the deal. Like any other relationship, business partnerships are built on trust. When you go the extra mile right out of the gate, you’re more likely to find success in the long run.
And there you have it: three steps you can take to create a winning partnership. If you liked this video, comment below and let us know what you’re doing in your business. Like us on Facebook and Instagram, and subscribe to this YouTube channel. Don’t forget to hit the bell icon to be notified when new videos are released. But, most importantly, take action on this today.