Looking for new customers or need a way to get more sales? Perhaps you’re worried that you are losing out to your competitors. Are you looking at other businesses with a touch of jealousy. Well what if I told you that you could access new leads by partnering with other businesses.
Think about other organizations that you could partner with. You want to pick those that are not in direct competition with you. Find those that are complementary where you could offer value that will make you both more money.
Think about the customers a business already has, and whether those same customers would be interested in your own product or service. Now, think of how you can make your offer a win-win for you and the other business.
Advantages of partnering with another business
This is a great way to access a whole new database of potential clients for yourself without having to generate new leads. It can also give the business you partner with an opportunity to make more money for little effort. They can upsell their current clients by offering them your service or goods for a cut of your profits. This should result in increased profits for you both.
The idea of partnering with other businesses is not new; it is the basis of affiliate marketing which is very common online. Done well this will not only help you make more money but can also grow your own business. The latter will depend on whether the business is promoting you so that you acquire new leads or selling your work as if it was their own.
Lets see how this can work for different business types with some examples.
Homemade items
For example, if you sell hand decorated scarves, reach out to boutiques to see if they’d be willing to sell your items. When they realize that they can sell them without needing to buy them first, they will probably jump at the chance. They will share in the sales without having to do any work other than sending an email , displaying in their store or adding to their website.
Business services
If you sell a social media management or SEO service, reach out to web design firms that might not offer your services to their clients. Offer them a percentage of the sales and offer to do all the work, support, etc. for their customers. You could even let them market it as their own (a win-win for both).
White labelling
Or if you’re a programmer or have a tool of your own, reach out to market leaders in your industry who might be able to sell a lot of your product and let them white label it. Wondering what white labeling is? Basically it allows them to re-brand it and sell it as their own. They will get a good cut of the profits while you just maintain it and provide customer support.
This removes the need for you to find your own customers. Find the right business and one good deal here can be more than a full-time living for you. This can turn into a good little business all by itself.
Don’t underestimate the power of partnering
We’ve started six and seven figure businesses by making such deals, and it all starts with just reaching out when you know both sides can benefit.
So have a look for other businesses that you don’t directly compete with that you could partner with. Then look at how you can come up with a win-win deal. Pick the best option that makes sense for you both from the ideas we have given you:
- Sharing in sales
- Fulfilling a need their clients have, but they don’t offer, (and allowing them to market the service as their own)
- White labeling your product for their clients.
These are just 3 ideas for ways that you can get more leads by partnering with other businesses but you may come up with your own ideas. Just make sure it is beneficial to both parties.
To find businesses to partner with, check out our business lead tool here: Macroleads
