It's All About Relationship

The power of relationship to generate business for your company can't be underestimated. Today I'm talking about 3 major topics: joint ventures & partnerships, referral networking and farming your current database. These are simple yet highly profitable ways to market your business... Read on!

Joint Ventures & Partnerships: It's What You Know AND Who You Know...

An old adage says "It's not what you know but who you know..." I'd have to say it's a little of both. You can be an expert in your field and even have a great product, but unless you're aligned properly with strategic parters, your business will not reach it's full potential.

Yes, that's a bold statement, but I'm seeing it come to fruition, both positively and negatively in the businesses I work with every day. Imagine the opportunity of aligning your company or organization with one who complements your areas of weakness. In our company, we aligned with a data management company about a year ago to be able to provide full list procurement services for our clients. This is a HUGE value add to our clientele, while also being another stream of revenue for our firm. In addition, we are able to reciprocate work back and forth, making it a fruitful relationship for both companies. It's not hard to do... and it's a great way to enlarge the scope of your business, while "keeping the main thing the main thing".


Referral Networking: Networking or Notworking?

When I first started Kairos Designs almost 3 years ago now, we had few resources within the business community to meet new prospects and find new business. This is the case with many new businesses... great concept and skill to boot, but where are the customers?

We learned early on to get involved in some sort of regular networking opportunity, where we could meet high-quality b2b referral partners. Within a short time period, we began to develop many 'strategic alliances' and were able to both give and get and endless supply of referrals on a daily basis. It's one of the cheapest and easiest way to find new clients and build a volunteer sales force without breaking the budget of a new business.


Farming Your Current Database: They already love you... Just ask the question.

The last, and I believe most effective/cheapest marketing tool out there for any business is cultivation of your current client database. These clients have already bought from you one or more times, like you, know you and just need and excuse to purchase again.

You can contact your database in many different ways... some ways that are extremely effective include personlized direct mail, e-newsletters, special offers via mail or email and last but not least, telemarketing. You'll be amazed how many of your current clients are needing your services on a regular basis and are just waiting on your call, email or postcard.