Building Strategic Alliances To Grow Your Business
By: ActionCOACH
Date: 11 / 12 / 2015
Date: 11 / 12 / 2015
A strategic alliance is when your company enters into a loose partnership with another business to help each other make extra profits.
Here are four strategies for building effective strategic alliances:
Ensure that companies you partner with are positioned at the same end of the price and quality spectrum – you need to share the same target market. Partner with businesses who treat their customers well and whose customers like them.
Another option is to give gifts to your customers to keep them loyal to you. For example, if you sell cars, you want to stay top of mind, even three years down the line when the customer is eventually looking for a new car. You might approach a day spa and say, “Most of my customers are executives you can afford and would enjoy a massage. If you give me a discount voucher for R50 off a massage, I’ll email it to all my clients and write a personal recommendation for you.” That way, the customer gets a great offer, you get to be the good guy and stay top of mind, and the day spa gets potential new customers.
You can also do the reverse – gift other businesses whose clients you want to target. For example, if you’re a management coach, you might approach a stationery supplier and say, “I’d like to offer you a gift to pass on to your top clients. It will make them love you and offer them genuine benefits. I’m a management consultant and I normally charge R1250 an hour, but for your clients, I’ll do a full one-hour appraisal and performance evaluation free of charge.” The stationery supplier now has something to offer that differentiates it from competitors, and you have a personal recommendation from a supplier that your prospect already trusts. Win-win!
Franchise Enquiries – Pieter Scholtz / Harry Welby-Cooke – pieterscholtz@actioncoach.com / harrywelbycooke@actioncoach.com.
Harry Welby-Cooke is the Co-Master Franchisor for ActionCOACH in Southern Africa. The fastest growing and largest business coaching company globally. Harry developed ActionCOACH across South Africa which now boasts 30 franchisees. He is also a certified, leading Business and Executive Coach. He has successfully assisted countless business owners to significantly grow their profits and develop their entrepreneurial skills.
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog!