In our most recent blogs, we’ve talked about how you can develop a strategic alliance to grow your business. This week we continue with more hints and strategies that you can use. Let’s continue with what you should look for in a strategic alliance.
Same Target Market
This is the most important consideration. The ally business must have the same or a very similar, target market to yours.
For example, a high-class beauty salon and an exclusive hairdresser are very compatible, a Ford dealership and an auto-electrician specializing in Fords would also work well.
Think about what businesses you deal with yourself. Chances are, your customers have similar interests as you. Best of all, if you are already a loyal customer with one business, it should be easy to set up an alliance. For example, if you are a beautician and you’ve been going to the same hairdresser for years, it shouldn’t be too difficult to say, “Why don’t we help each other out?”
They Have a Database
Of course, it’s not entirely essential. You can always ask the ally business to simply hand vouchers out, or make a verbal recommendation to their customers, but having a database gives you more options.
For instance, if they have a database, it means you can introduce yourself by letter. Better yet, get the owner of the business to write a letter recommending you and your company and you’ve already created an incredible reference that will help your business.
Be aware that many business owners are very cynical people who think the world owes them a living. Stay well clear of them. If their attitude doesn’t match yours, the alliance may self-destruct.
It’s better to find someone who’s willing to give you the support that you need. There are people out there like that, and they’ll love to get involved. They love to help and make new connections and friends. These are the business owners you want to work with.