Five Partnerships You Need to Have to Guarantee Your Marketing Success

If you mention networking to most people, they immediately think of attending an event and swapping business cards. In truth, it’s only the tip of the iceberg when it comes to this powerful business building marketing strategy. Networking is the process of building mutually beneficial relationships — much more than a moment in time.
When networking is done well, it’s a very cost efficient business building strategy. When done poorly, it’s a complete waste of time and money! To maximize effectiveness, entrepreneurs need to strategically plan for networking in five separate areas:

1. With Clients
Your clients are bombarded with choices for quality suppliers. When you are a business buddy with them, your relationship can be the glue that keeps you together. Their loyalty and repeat business is the most profitable business you can find. Your clients can also provide you with valuable feedback. I like to ask my client buddies questions

2. With Suppliers
When your suppliers feel like they are part of your team, you will experience increased service and sometimes even lower costs — who else, but their buddy, would they call first when a good deal comes through hands? Your suppliers can also share valuable information about what your competition is up to.

2. With Competition
When you turn your competitors into industry allies you can create a wonderful source for referrals. The key to this is knowing what your unique niche is. If your competition knows your specialty and trusts you to do a good job, they can feel comfortable referring you overflow business — as well as appropriate business for your expertise that they don’t handle.

3. With Your Business Community
When you have an active network in the general business community, you can create a goldmine for referrals. The trick is to make sure that people know what you do. Too often, business owners, use general statements like “designer” and forget to educate their buddies on their expertise.

4.Within Your Own Company
Having buddies within your company across departments, as well as levels of management, will fuel your effectiveness and lower costs. If you’re a one-person show, you still have an important “company network.” They are the family and friends who continue to believe in you and your dreams. Don’t forget to take time and nurture your relationships with them as well.

Work on setting up these five important networks, and you will see an increase in referrals and your marketing success.