Creating strategic partnerships


Very often similar services share space in the same building, such as chiropractors, doctors, dentists and physiotherapists. They do that on purpose, because if you care enough about your general health, you’ll probably care just as much about your feet or your teeth. The plus side of doing this is each individual business benefits from having the others around, as well as potentially sharing costs.

Catching new foot traffic entering each business is great, but think of how else the businesses could compliment and support each other if they were proactive about helping. They could:

  • Promote each others’ social media pages on their own
  • Have a designated space at the bottom of their email or print newsletter for promoting one of them
  • Display each others’ business cards at their front desk.

 

You may be thinking, ‘I don’t work in a set-up such as that, what has it got to do with my business?’ There may be opportunities close by that can work just as well for you. Look around at the relationships you already have with complimenting services that will benefit you both. For example:

  • A builder will work with the same electrician regularly.
  • A wedding planner will have a preferred florist and catering company.
  • An accountant will have a preferred commercial or trust lawyer.
  • A beautician will have their favourite hairdresser.
  • You may have heard of ‘strategic partnerships,’ current buzzwords, and these are prime examples at play.

 

Think about how you can develop strategic partnerships, marketing your products and services to their customers as a positive way to grow your business and give the same in return for theirs.

Serious about your success?