One simple lead generation strategy to facilitate business growth and profitability quickly without having to spend any money upfront is through strategic alliances.
By joining forces with another company, you can watch your business profits and sales take off very quickly. A strategic alliance is a cooperative venture.
Many companies have begun forming strategic partnerships and collaborative relationships with other companies to complement their strategic initiatives and strengthen competitiveness.
According to a recent survey of CEOs of small, fast-growing companies’ 90 percent reported forming alliances. Studies show businesses that participate in partnerships grow faster, increase productivity more quickly and report higher revenues than abstainers.
The power of a strategic alliance is when you can offer another business’s products and services to your existing customers. At the same time, your alliance partner sells your business’s products and services to its customers. Under most circumstances, your alliance partner can direct-ship its products and provide services directly to your customer, without your business having to be involved at all beyond the sale.
All your business has to do is collect the money and divide this sales revenue between your business and your alliance partner. The Internet has more clearly defined the respective roles of strategic alliances for business owners.
These alliances are created and activated when one business’s customers move to your business’ site and purchase products and services and when your customers travel to other businesses’ sites and make purchases. The best way to create an ideal strategic alliance is to win-win for both parties involved.
The ideal businesses with whom to form alliances are those that offer products and services complementary to those of your business. For example, if your company offers sporting equipment, you could partner with a sports clothing retailer.
You can offer their sports clothing to your customers while they sell your business’ sporting equipment to their customers. The key to success is by creating a mutually beneficial win-win relationship for both partners, and you will see an increase in lead generation without spending more money.
The bonus is that you will notice a boost in referrals in a short time and an increase in profits.
The first step is to take action by scanning through your own personal and professional network to seek a potential alliance partner.
If you would like help to form profitable strategic alliance partnerships that will help boost lead generation and sales, we invite you to book a FREE Quick Wins Growth Session!