How to Create Leads Without Spending a Cent on Advertising
In today’s competitive marketplace, partnerships are critical for the growth of your business. Successful partnerships are lucrative and will radially alter your business model for the better. Rather than constantly focusing on looking for business in a hunter and gather framework, partnerships open the door for a steady stream of leads walking into your business. In my experience, leads that come from referable partners are easier to convert, as you come with a personal referral from a trusted source.
But how do we find a partnership? How do we find that plus one that will help us equal more than two?
I have created and nurtured a number of highly profitable partnerships with major national businesses using a method that I have refined over the past few years. I call the model I have created, ‘The 5 C’s of Partnerships’. Whenever I have strayed from this framework, the partnership has either dissolved after a short time, or has just not produced any profitable fruit. When you get it right however, you will never have to spend another dollar on advertising again.
The five C’s of partnerships are:
When going into a strategic partnership discussion, it is advisable that you are already a client of the business that you are looking to form a partnership with. The initial lead in that I use is;
“Hi (first name of the partnership coordinator), I am a client of yours”.
Not only is it nice to compliment the business you are entering into a partnership with, but you also need to make sure there is a compliment of businesses;
“I really love what you do for your clients, and I think there are some great parallels and synergies between our businesses”.
3. Complete their goals
You should go into every partnership discussion with the intent of helping your partner achieve their goals. For example if you are dealing with a predominate sales division;
“I really love the way you are so client focused and make your clients feel really special, which is undoubtedly why you have such a great reputation in the industry and are getting a lot of referral business. I have a product/offering that I believe could be a great support to the amazing things that you are doing already”.
To optimize the relationship, it is a good idea to give your new partner some ideas how they could use your offering in different ways that can help strengthen the partnership;
“One way we have used this product/offering with some of our other partners is….”.
Rarely does longevity come from a one night stand. Highly profitable partnerships come from years of positive relationship building. After you have set up the partnership, make sure you keep in contact with the partners, with regular phone calls and face to face meetings. Partnerships are your mobile sales force. The more they know, like and trust you, the more business they will send your way.
When it comes to setting up profitable partnerships, I strongly recommend fine-tuning one partnership first before approaching multiple partners. Be selective and strategic of whom you approach first. Depending on your industry, it might be prudent to not cut your teeth on your dream partnership. Refine your offer and delivery so that when you are going for the big fish to will come across polished and professional.
Strategic partnerships are vital to the success your business. As in an increasingly connected marketplace they allow businesses to extend their reach, by tapping into external leads rather than being dependent on doing it alone.
So who is going to be your plus one and when are you going to make it happen?
“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"
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