Partnerships are a great way to help boost the value proposition you can provide for your clients, especially when you are just starting out with tight cash flow and a small sales budget. Here is a method I have seen work many times.
Here are the basic rules of the “Partnership Trifecta”:
- You Benefit
- The Parter Benefits
- The Partner’s Clients Benefit
These three points should be considered in any partnership relationship. Following is an example:
You have a service that provides affordable websites. You find out that an associate of yours is the president of a local networking club. You know that many of the members of his club can use the service.
So you propose the following offer:
- You Benefit: Your price is $1,000, which gives you a 40% profit, but you are happy with %30.
- The Partner Benefits: You offer the partner 5% commission on each sale that comes from his referral.
- The Partner’s Clients (members) Benefit: You offer the partner’s members a 5% discount for signing up with the partner’s referral code.
Make sure that you disburse payments quickly, so that you can to keep the referral energy going.
What partnership strategies do you employ?
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