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When someone is just starting out they will ask me to give them some tips on how to get some business going quickly - after I talk about building a long-term marketing mindset - I often point them down the path of strategic partnerships. Creating the right partnership or two can create an instant and steady flow of leads.
There are some obvious ways to go with this:
A group of home services providers get together to promote actively to each other’s customers and create an entire network of providers. So, the plumber, electrician, HVAC, lawn care, roofing, and alarm company create joint marketing materials with coupons and special offers and the technicians drop it off with each call.
Or, a service business example
Accountant, Bank, Insurance, Lawyer, IT consultant and Management consultant get together and offer full day or 1/2 day of great workshops. Each invites their own customer base and gets exposure to the collective attendees.
But, what I really like, because it can create more buzz than the typical, logical relationships, is when a couple of businesses that you don’t normally think of as partners can find a creative way to mutually benefit each other.
For example:
1) I was out in Colorado last week and went to a coffee shop that offered free fly casting lessons every day out on the stream that ran behind the store. The coffee shop received business each day as families came in to get the free lesson. The lesson was held by a local fishing shop that signed up participants each day for their guided fishing tours. (The coffee shop owner even said some people just come in to watch.)
2) An IT consulting firm wanted to partner with CPAs at large firms so to get their attention they brought in a masseuse and the CPAs were treated to a back massage as they listened to the presentation. Not only did the IT firm stand out and get the attention of the sometimes reluctant CPAs, the massage business acquired new customers.
Two keys for any of these to work
1) Must target the same ideal customer
2) Must trust each other to take good care - these are referrals after all
What’s the most creative partnership you’ve witnessed or participated in? Was it successful?
Comments
This entry was posted on Monday, August 11th, 2008 at Aug 11, 08 | 7:07 am and is filed under Referral Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
An automotive repair shop (very local, not a chain - small but has been around 30 years) decided to go to one of the large chain tire dealers. They offer to fix any broken wheel studs that happen at the large chain tire shops (it happens all the time) - so now, the large national chain is sending unhappy customers to this small local shop - and all for free. The unhappy customers get taken care of (and usually end up being happier because they aren’t taken advantage of) and they get into the database of the local shop. And when people come into the auto repair shop and need tires, they are overt in recommending people go to this national chain. After years of doing this, the national chain now gives out coupons to all their customers to go to this local repair shop. It’s really a win-win. It’s a $100K+ business for this local shop! The chain enjoys a relationship as well - as they get consistent customers all the time from this shop. This is at least a case of the small guy winning big time!
Power circles and strategic connections are the best way to build your business. I will spend most of my marketing budget on the members of my inner circle. Why? Because they will do my selling for me.
As a marketing firm focused on start - ups, my circle includes an accountant, two lawyers ( one specializes in IP) a computer hardware guy, a business broker, printer, and web host.
I also teach a class and have a book on this very subject: Confessions of a Networking Junkie - for more info go to: http://www.roundpeg.biz
I think partnerships are great but more difficult to create than it sounds. Lorraine’s mention of her power circle is so correct and that is what all of must be striving reach. What leads do any of us receive from networking? I would say the vast majority of them do come from a select few, our power circle. But how do we create on, a good start is this program I heard called Referral Flood.
I guess it’s a no-brainer, but as a web programmer with no design skills, I’ve teamed up with a talented web designer with no programming skills, and we’re each bringing in regular work for each other.