A marketing partnership involves two or more professionals, companies or salespeople who have common prospects, similar marketing needs, and possibly complementary services. These entities join forces for mutual marketing and sales, usually within a specific market sector or for specific prospects. This does not mean they lose their individual identity. More than likely, each will continue to market and sell outside the partnership.
Marketing activities may involve:
- Creating joint marketing materials
- Joint direct mail, e-mail or advertising campaigns
- Joint sales calls
- Referring of prospects
- Possibly even combining services, talents and assets to create new services
An example of a potential marketing partnership would be an accountant, estate attorney, financial planner, and insurance agent. By combining forces, these professionals can, at least in theory, coordinate and help guide an individual's affairs without the potential of conflict, jealousy, or competition. And, again, each individual professional benefits from wider exposure, more referrals, and marketing that is more efficient.
Virtually every professional and company has opportunities to create marketing partnerships. Although the most visible partnerships involve large, publicly traded companies, partnerships offer tremendous potential for even the smallest of companies or single practitioners.
When considering a partnership, there are a few things to keep in mind:
1. Your Partners Help Define Your Reputation And Position
When you enter a marketing partnership, whom you choose to join forces with directly impacts your sphere of influence, marketing potential and reputation. Each partner's reputation "rubs off" on the other. In addition, your marketing reach is enhanced-or limited-by the other side's.
Consequently, you should take care when approaching someone as a partner. As the initiator, you have the advantage of choosing providers you want to join forces with. Since the ball is in your court, pair with businesses that have the reputation you want for yourself and the market reach you desire.
Careful selection of partners can rapidly establish a relatively new company or professional as an expert or serious player within their local industry. Likewise, poorly selected partners can just as quickly damage a reputation.
2. Partners Want Real Value From The Partnership
When you initiate a marketing partnership, the professionals and companies you approach will want to see results before they become enthused. You will have to sell them on the idea that the partnership will produce real benefit for them, not just for you. In addition, they will not want a new free "soft" service to provide their customers. They will want a real profit benefit.
So approaching them with the idea that they can refer a client with a need to you and thus provide a "service" to their client will not cut it. The partnership must offer them bottom-line dollars. Even then, they will not fully participate until they have experienced some benefit and see that it works. That means you must be prepared to give before you receive.
3. Your Commitment is Key
As the initiator of the partnership, you not only have the luxury of approaching those potential partners you believe will enhance your status, reputation and business potential, but you also must assume responsibility for its success. You will have to do the vast majority of work, at least at first. You will be dealing with people who may like the concept and want it to work, but they will be skeptical. You will have to carry the ball and show them that you are committed to the partnership-and, again, that it will produce results.
The quickest way to achieve full buy-in of partners is to have a client or two ready to go as soon as your partner prospect agree to the partnership. Nothing gets the attention of a new partner like immediate business--and it demonstrates that you are serious in your commitment to them and not simply looking to mooch off their business.
Many, if not most, marketing partnerships fail to live up to their promise because the initiating partner forms the partnership with unrealistic expectations. If you are looking for a quick fix to sales problems, an "easy" way to get business, or are looking for a one-way referral connection, a marketing partnership is not the answer.
Nevertheless, if you are committed to building a long-term partnership that can vastly increase the prospecting and marketing capabilities for all concerned--and eventually the sales pipeline--a well constructed marketing partnership can work wonders. ;)~gd
Key Words: Marketingpartnershipprospects
There are distinctively principles of success that must be followed if you have not succeeded as of yet, want more of the success you already experience or would like to regain it and keep it. It is proven that the majority of things do not matter, but what does matter is your attitude towards them. These attitudes or seeds begin in childhood and grow and develop into your adulthood. Finding someone to model after who has already achieved success is added value to your own journey. Do you know what the 10 keys to becoming great are?
Creativity is definitely the beginning of achieving success and greatness. Most great things start with a good idea that was nurtured to grow into something grand.
Self Esteem is essential in growing to be the best you that you can be. If you do not have love for yourself you can not give it to others. Most people wear masks as not to be discovered. This is just fear that can be dealt with. Being Adaptable means that things are not as bad as people crack them up to be. This tactic is used to justify a lack of achievement. Change is good and normal in life, so embrace it.
Faith is truly a key some hesitate to exercise. When faith is present then optimism becomes prominent. When you fly with the eagle it is next to impossible to swim with the ducks. Faith allows you to soar to new heights. Purpose or lack of is a major reason most people fail to achieve their goals. They never really set them to begin with. Without a why the how does not matter. Begin with the end in mind.
Communication involves not only speaking but listening as well. Most of us are good at one but not the other. Communication also involves physical touch as well such as a hand shake. The first step in good communication is good appearance.
Wisdom and knowledge make a big difference. This is why continued education is so important. Wisdom is not dependent on the words we know as much as in how we use them. Make sure the model that you are creating is the real deal.
Perspective is knowing how you view life from within. Life is not a treasure hunt, it lives inside you. How you see life will make all the difference. It is amazing how far you will travel down the road of happiness and success with a proper perspective.
Perseverance is an art. It is being able to hang in there when things get tough because you know you are right or on the right track. Successful people are willing to do what the majority of people are not willing to do. Always go for the gold!
Responsibility is the willingness to look into the future and be willing to pay the price. It is no one else's fault if you do not succeed except yours. As a man sows, so shall he reap. It is your responsibility to make the changes and take the steps necessary for your success.
Life is really only what you make it. No matter what happens, it makes little difference than as how you respond that counts. For more information on success thinking and ways to improve yours, check out
http://www.believingandsucceeding.com
When you can be urgent about the effort and patient about the reward, anything is indeed possible." Paul Marston
Key Words: Wealth Success Mind Set Goals
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