The Business Hub
In my mission to help the local business community, I have teamed up with local radio station Stray FM to contribute to their Business Hub and provide business owners with advice drawn from my own experience. In this episode, I talk about the importance of building strategic alliances.
Word of mouth and recommendations are some of the cheapest and highest converting lead generation strategies. But most businesses don’t have a strategy in place to generate more leads this way. In this episode of my podcast series, I talk about the importance of the local business community and building strategic alliances. I’ll explain how trust is important when building strong referral partnerships. In particular, how connecting with the right types of business can increase the profits in your business.
What is a strategic alliance?
There are many definitions of a strategic alliance. In reality, it is any non-competing business who is working with your target market on a regular basis. In other words, they are infront of your ideal customer. If the customer is in need of other products and services, they have the opportunity to recommend someone to the customer.
Try to think of businesses in your local community who are speaking with and working with your target market, but aren’t competitors.
Think of businesses you already know who may be able to start recommending your company to others.
Think of your customers and what products and service they need.
Start to list local companies who could become strategic alliances, and then start to reach out to them.
Approach them with the mindset that YOU can help THEM.
Strong strategic alliances referral partnerships are built on trust, and a genuine desire to help each other.
To listen to other episodes in this series of podcasts, click here.
