Strategic Alliance Partnerships In Marketing | Do This Sell More Show 41
Written by Dave Lorenzo on September 28, 2019 / Inside BS Podcast
Strategic alliance partnerships are the fastest way to grow business revenue. As a definition: A strategic alliance partnership is when you and another company (or person) who targets your ideal client, get together and share marketing opportunities. This show is a “How to guide ” for developing and leveraging these opportunities to grow your business. If you want to grow your business quickly, you don’t want to miss this show.
Strategic partnerships come with many advantages. However, one of the biggest is the access you gain to a new market. When you develop a partnership with someone, you’ll be able to connect with their audience.
A second advantage is the trust that you’ll gain through your new relationship. Once you start a successful collaboration, your partner will start endorsing you and thus your reputation will improve, making it that much easier to find new clients.
Now, what exactly does this kind of relationship look like? Here are two examples of working together in a strategic partnership:
Barnes and Noble and Starbucks provide a good example. Although they’re independent businesses, when you go to a Barnes and Noble you can also get a coffee at Starbucks because of the agreement they’ve made that allows Starbucks to open restaurants in Barnes and Noble.
With this agreement, Barnes and Noble and Starbucks end up sharing customers and Starbucks gets the endorsement of Barnes and Noble by being featured in their stores.
A second example is a dentist and a wedding photographer. In this example, the wedding photographer could include teeth whitening in their premium package. This way, the bride gets a free whitening, while the rest of the wedding party end up getting a whitening as well, which they’ll pay for.
These are just two examples of working together in a partnership but they illustrate the mutual benefits of these kinds of relationships. Successful collaboration can be a gateway to new markets and better sales opportunities.
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