Building Partnerships to Meet Your Customer Needs

Your customer, whether they are an individual or a business, has needs beyond what you can provide. Understanding those other needs may lead you to cross-promotion opportunities or new services.

As you clearly define your target customer, think about other products and services your customers could or would purchase on a regular basis. The providers of these products and services may be ideal strategic partners for your company.

The Benefits . . .
As you consider strategic partnerships, there are many benefits such as: the opportunity to increase referrals, generate publicity through joint promotion, and even share a few advertising expenses. It takes time to build an effective partnership, one which could bring value to both companies. To make this type of marketing work, you must be willing to create opportunities for your partners if you want them to create opportunities for you!

The Risks. . .
In addition to the benefits, there are risks associated with creating strategic partnerships. The closer you work with this strategic partner, the more your image and theirs become entwined together in the mind of potential clients.

Carefully evaluate potential partners. Will they treat your clients the way you do? Will the association enhance your business?

Be Selective. . .
Who will make a good partner? Consider companies that call on the customers with whom you wish to connect. If you are an electriction consider roofers, landscape contractors and home handy men. If you are a photographer consider a dj, florist and caterer.

Create a few good partnerships with the right companies. Invest you time and effort in making them work and you will definitely reap the benefits.

A twenty-year veteran of corporate America, Lorraine is an accomplished marketing professional, who has won regional and national communication awards. She is a certified teacher, facilitator and college instructor. Lorraine Ball is a frequent guest panelist featured on "Sound Advice," the popular online audio program from What's Working in Biz.

Her articles on marketing, team building, and business development have been featured in Contracting Business, The New York Forum and The ACH&R News. In addition, her books: "The Entrepreneur's Notebook" and "The Confessions of a Networking Junkie" are quickly becoming "MUST READS" for new business owners.

Today, her company, Roundpeg http://www.roundpeg.biz helps small business owners discover the secrets to big company marketing!

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