The third streetwise or potentially zero cost marketing strategy for generating new business is what I call “Strategic Alliances”. (or “Strat Als”, “Strategic Partnerships” or “Joint Ventures”)
Most people, especially the professional services such as Financial Advisers, Lawyers & Accountants, tell me that they get business from Strat Als. Yet very few have strategies in place to consistently market through this route – Just like I mentioned in my “How to Generate More Referral Business” article !!!
A Strat Al is someone that sells to your ideal target market BUT doesn’t compete with you. They are someone that you agree to work strategically with to bring you business and ideally you reciprocate so that it is a real win/win relationship.
Building powerful Strat Als is a strategy that we coach our 3degrees Social Linkedin Trainers & Coaches to implement as part of their every day marketing activity.
StratAl referral business is key as 3rd party testimony is powerful and allows you to leverage your marketing. Effectively, someone else is doing the work to promote and market your business. AND IT’S FREE. Although it does need an investment of your time to set up, nurture & reciprocate.
I rarely market my own workshops now. Most of them are marketed & put on by others and I just turn up and deliver.
I get asked to speak regularly around the country at the numerous Property Investor Network meetings. In order to make it win /win use of my time the PIN host will market a Linkedin training workshop, for the next morning, to his database and put bums on seats. I take the money and he/she and his team attend and get trained for free and his network / client base gets great value which reflects on him.
I also get to deliver into my target market and grow my database.
I have done similar with charities that want to engage with the local business community and even split the revenue with them as my donation to their charity. I have even made additional sales to those attendees as well as generate revenue in the process :)
I have coached many businesses to form successful Strat Als such as:
Accountants with Business Coaches
Builders with Sparkys, Plumbers, Carpet Retailers
Bakers with Restaurants, Hotels
Business Coaches with Lawyers, IFA’s, HR Consultants,
Hairdressers with Florists, beauticians
Hotels with wedding dress shops, photographers
etc, etc, etc
HERE IS A LINK TO a document full of ways to create Strat Als, approach people, set up the deals, create the offers and make the sales: More Business with Strategic Partnerships (It’s under the section of “Business Coach, Speaker & Trainer”)
WARNING: It does relate lots to the retail industry. You mission is to ask your self ” How do I best apply this to my business?”
I wish all you all the best in growing those powerful relationships and leveraged sales :)