All enterprises strive to achieve the same goal of profiting from their products or services. And while a company may have a solid marketing plan and a stellar sales team, building relationships with other businesses and incorporating them into the sales strategy will bolster your chances to achieve greater success and unimaginable figures. However, it's important to provide something in return by offering a solution that's a win-win for both parties. If you scratch their back, they'll scratch yours.
My company, TV Ears, is strongly committed to working in collaboration with other businesses. While we want what's best for the company, we also feel good knowing that we have the ability to help others in our industry succeed. TV Ears receives roughly 50 percent of business from our Web site; the other half comes from outlets and dealers.
To encourage the development of partner relationships, companies should provide an incentive in exchange. Three suggestions to consider include:
1) Association. If you have a well-known brand, encourage other companies to do business with you because of the association that could enhance their reputation. For example, TV Ears has worked diligently to build the number one brand in TV listening devices. Our dealers recognize that by partnering with us, it will have a positive impact on their business. By partnering with prominent brands, that association has the ability to increase a company's success and credibility.
2) Marketing. Offer opportunities to highlight partners on the Web site or through other promotional materials. For example, our Web site includes a "Find a dealer near you" section where customers can find audiologists close by. While we conduct direct sales, it's important that we act as a good business partner and help promote other companies that support our products.
3) Special offers. Provide partners with deals and promotions that aren't accessible to other folks. For example, we offer our retailers and audiologist's wholesale pricing on all our products and discounts on demonstration models. Make these businesses feel that they are an extension of the company by providing such exclusive incentives so they have an opportunity to profit.
Entice other businesses to contribute to the company's mission by incorporating strategies that will benefit them in return. TV Ears supports its dealers and is dedicated to providing them with the information and tools they need to succeed at selling TV Ears products. As a result, they increase their sales and gain lifetime customers. By forming similar partnerships, a company increases its potential to produce significant results.
George J. Dennis is the founder and CEO of TV Ears, fast-growing manufacturer of doctor recommended TV listening solutions. He can be reached at firstname.lastname@example.org.