How Strategic Alliances benefit your Business
Strategic Alliances can maximize a company’s or a solo entrepreneur’s position in the marketplace by:
∗ Connecting with new customers and prospects that they could not normally serve alone.
∗ Enhancing brand identity. Most small businesses benefit from partnerships that add value, prestige, and greater credibility to their own endeavors.
∗ Attracting top-notch employees.
Strategic Alliances enable businesses to be more efficient and able to concentrate on their core strengths, while offering additional services/products that appeal to a wider range of clients.
Strategic Alliances are formed between two businesses or individuals who pool their expertise and resources so that they can both enter new markets, share financial risks, get products and services to market faster, and gain additional business.
Find the Right Partners
Partner with a competitor. Look for allies not enemies. By understanding the capacity and capabilities of your competitor, tap into their unique strengths for your own advantages. Partner for cross marketing.
Pool your resources and collectively market to a target customer base. The Strategic Alliance will provide additional leverage for your product offerings and generate greater marketing impact.
Partner with a brand leader. Benefit from alliances that add value and prestige, not just money. Associating with a well-known business can give your company instant credibility and exposure. It’s not always about the bottom line.
Partner with a key customer. Make it nearly impossible for them to consider going elsewhere.
Partner with the Nonprofit Community Increase your circle of influence and your visibility in the community. These partnerships may offer great opportunities for your marketing efforts in targeting a very specific, and important, consumer audience. And it’s the right thing to do …. Support the community that supports you.
Partner with former employer. Never bourn bridges, build bridges. These former employers already know your work ethic. Capitalize on it.
Leave a Reply
You must be logged in to post a comment.