How to Design and Get the Most
From Sales Partnerships
Frank Traditi
While attending an open house networking event, I spent some time talking with a business colleague about sales and marketing relationships. Our conversation inspired me to write about how you can build a relationship with your partners and take advantage of the opportunity to market and sell your services to their clients.
First, some definitions. Sales and marketing partnerships are essentially relationships set up to compliment each other's product or service to a mutual client. For example, a company that provides a complex software solution needs to be connected with a company that can provide the "real estate" to host the software application for their client. These two entities have a mutual opportunity to serve the client and can provide a seamless service offering.
This happens quite often in the technology industry, but it occurs throughout the marketplace. Again, a graphic design company needs a good print shop to deliver any kind of print media their client contracted for (business cards, letterhead, etc.)
These partnerships don't survive on their own merit. Nurturing, educating, finding new business opportunities must be part of the game plan to ensure a healthy business relationship. All too often, each partner thinks the other is going to bring in the business. True for some, false for most.
The key to success here - It's YOUR responsibility to make the partnership work.
To help you and your company take a proactive approach toward getting the most from your sales and referral partnerships, here are some strategies and tactics that you can implement right now.
Teach them how to sell your product
This may sound obvious, but often missed. Take your partner through
the process that you and your sales team (if you have one) engage when finding
prospects, sales presentation and closing the deal. If your partner knows
how to sell your product, time saved on your part is immeasurable.
In-depth product knowledge
Don't skimp on this part. Ensure that your partners know your products
and services as well as you do. Remember, they could potentially use your
services to help sell theirs. If they can present a seamless integration
between the two services, the client is more willing to sign. Show them
how each service works, the step-by-step process of integration, the niche
market, questions to ask potential clients to qualify and the benefits to
the client.
Set up a regular communication channel
This is where the process can fall apart quickly. Many partnerships
start off real fast then crash and burn just as fast. Don't let this happen
to you. Set up a newsletter or email piece that everyone in the partner
company will see. Put sales techniques, product information, success stories
and tips on qualifying potential prospects. Take the approach that your
partners are just like your employees. You may also work out a regular meeting
schedule between your partners - via teleconference or live. Stick to the
schedule and always include an educational portion of your meeting to help
your partner look for opportunity.
Set up a bonus/award/monetary incentive program
Reward your partners with something extra for driving the miles
you didn't have to when getting new business. This can be as simple as a
dinner package to an elaborate commission payout structure. Whatever it
is, make it simple to understand and enticing for sales people to include
your suite of services in their presentation.
Find business for your partners
Nothing works better than YOU finding and closing the first client
in the partnership. Make this a priority. Seek out opportunities where you
can bring in your sales partner for business solutions. Even if you don't/can't
provide the solution to a client, refer your partner in if their solution
fits.
Learn the sales process of your partner
Get really smart about how you can find opportunities that fit
your partners’ solutions. You develop a deeper connection with your
partners when you can talk as competently about their product as your own.
Your partners are your eyes and ears to potential clients you would otherwise never find or connect with on your own. Don't take this powerful relationship for granted. It takes education, management, communication, and perseverance to make it work.
Take quick assessment of your current partners. Are you doing everything listed above (and more) to create a true sales and service partnership?
Copyright © 2006, Frank Traditi
Was this article helpful? Don't stop here...Read more small
business or job search self promotion
tips.
Editors, publishers and webmasters: You may reprint these articles free
of charge if you follow our reprint guidelines.