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is to create strategic alliances. Strategic alliances are partnerships with companies who sell to a client base similar to yours but they sell different products/services. The idea is to find partners whose clients may also be interested in your products/services. Many times people will casually agree to spread the word about each other’s products/services. This is the idea of ‘you send me clients and I will send you clients.’ This isn’t very effective for the following reasons: 1. The agreement is vague and undefined. 2. One or both of the people may not fully understand what the other does. 3. People are busy and forget. 4. Both people may be waiting to ‘get something’ first before they get into action to help the other. 5. One of the people may be more interested than the other. 6. There may be a higher value for one person than the other. To eliminate all of these issues, simply create a specific offer for potential strategic alliance partners. Offer to give something to your partners for every person they refer to you who ends up purchasing your products/services. This can be a percentage of your fee or total purchase, some of your products/services, or something else you mutually agree upon. The motivation for partners to send you clients isn’t only about what they will get in return. It is just a way to thank them for their effort, let them know that you are serious about the alliance, and to create commitment. Think about it, you’re probably currently spending money doing some kind of marketing or advertising. There is no way to know for sure that you will see a return on this investment. When you create strategic alliances your investment is guaranteed because you only ‘pay’ once you have a new client. What’s more, strategic alliances leverage marketing efforts because a partnership allows you to market to many people via your partners (one-to many) instead of one-to-one. Strategic alliances are a triple win. Your partners win because they are able to be a resource and help someone find what they need as well as receive an incentive for their effort. The person who buys the products/services wins because they find what they need. And you win because you have a new client. Get started by simply thinking about companies you know who may be potential partners and contact them to see if they are open to the idea. An alliance doesn’t have to be complicated and in most cases a written agreement isn’t necessary. The goal is to create alliances with people you trust and who trust you. Here are some examples of strategic alliances: * Nutritionist and a Personal Trainer or Gym * Employment Recruiter or Language School and a Relocation Agency * Tax Advisor and a Financial Advisor * Artist and an Interior Designer * Massage Therapist and a Hair Salon * Professional Organizer and a Moving Company * Consultant and a Trainer * Website Designer and a Copy Writer In order for your partners to give you a genuine referral it is important that they have sampled your products or experienced your services. If they understand firsthand the benefits of your products/services it will make it easy for them to tell others about you. These are just a few ways your strategic alliance partners can help you: - Mention your company in their newsletter - Give a coupon for a sample of your products/services - Send a letter to their clients introducing them to your products/services and perhaps offering them a special deal - Add your website link to their website - Simply telling clients about your company when the opportunity arises If your partners want to create their own specific offer for you in return for you sending them clients, that is great as well. It is an added bonus and it isn’t a requirement in order to create a beneficial partnership because the agreements are separate from one another. By now you can see the value of creating strategic alliances. So what are you waiting for? Look through your contacts and see which companies might be perfect strategic alliance partners for your company. Then get into action and contact them! (c) 2005 Stephanie Ward
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Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Fundraising: How To Avoid Three Common Mistakes By Judith Rothbaum I'm a board member of a local nonprofit and we are about to launch our annual campaign. Like other nonprofits in our community, we are facing a very competitive funding environment. There are more agencies seeking more money from more sophisticated donors.It's enough to make you run for cover.The reality is that fundraising is not easy, but it isn't impossible. There are some mistakes to avoid if you want to be more successful.1. Overestimating… 2. How To Find A Trustworthy Online Payment System Let's face it. You’re online to make money, which ultimately means selling from your website. There are a lot of options for accepting online payments, but how do you know which is trustworthy and which isn't? The first stop should be using the whois directory to see which country they’re based in. If it says Panama, Cayman Islands or anywhere in Africa, it’s probably not a good sign.Network Solutions WHOIS Lookup allows WHOIS queries to find out… 3. Gifts that Carry a Marketing Message When we decide on a price for our products and services we have established our chosen profit margin. As part of that process we figure in the cost of marketing, but this figure does not always include purchasing gifts for our clients. Gifts are often purchased on a whim, or out of guilt or gratitude. Business gifting should be a part of the marketing costs, and the gifts should be viewed as marketing tools. Once we establish an annual budget or… 4. Two of the Biggest Hurdles By Kevin P. Dervin As I was preparing for a presentation recently, I was trying to figure out why small businesses have trouble marketing themselves consistently. If we know we need to be marketing, why don’t we just do it? Is it for a lack of planning or that we’re just not sure what to do or where to start?Yes, maybe. But in trying to figure out what those hurdles are that keep us from marketing consistently; I came up with two hurdles that I think might be as … |