Eight Great Tips For Strategic Alliance

In this article we are going to cover eight great tips for strategic alliance. I think before we explore this avenue of marketing it would help to explain why a "Strategic Alliance" would benefit your company.

A strategic alliance will find you new leads, gain new custom and increase your sales. Though in order to truly benefit from this marketing tactic careful planning is essential. It involves the normal marketing channels of time, resource and energy.

Those are the reason's for more sales. But what about others. With careful planning you will gain a competitive edge through access to a partner's resources be they people, markets or even technologies.

Now we have covered the why's lets jump into the tips.

1. Never assume that every company producing a similar service/product to yours is strictly your competitor. It could be that at that moment in time they was in the right area at the right time with the right offer. It could be they are in the same area of work EG:Printing but in a different niche area. EG Print Finishing.
2. What outcome would you like? New customers, retaining current customers, joint venture, access to a new market because of a new product launch? Answering these quesions before starting a strategic alliance will ensure you choose the correct partner.
3. Commitment not only from yourself but your partner. Are they as reliable as your self?
4. Don't have so many if's and but's in the final contract. Allow each other to be flexible. Also plan for an exit should either company decide it is not for them
5. There are many places to seek partnerships from ranging from local newspapers to trade events and researching online.
6. Money the all important bottom line for any company. Ensure that not only your company but your partner's company are going to benefit from this outstanding alliance. You both want the most out of this partnership and if one of you feels as if the partnership is not working, then lack of motivation will start and ultimately the end of the partnership will happen.
7. Who you partner with is an important decision. You need a partner who obviously knows the trade you both share yet also has a reliable and checkable work history. If possible check their figures to see how their company is fairing in the world of business. Also one of the biggest reasons for partnerships to crumble is because of different companies cultures. If for example your staff enjoy a weekend trip to the seaside and their company enjoys a night out to the theatre then different cultures are not going to mix. Suggest a work swap where some members of your staff work at your partners and vice versa.
8. Define what areas you can help your partner benefit from. Do they need help in more back end sales? Their marketing efforts? This of course works both ways.

In this article we covered "Strategic Alliance" and what the benefits are to each company. If this is carried out successfully the rewards of a partnership like this is hugely rewarding. Indeed many great companies have been born out of a simple strategic alliance that grew into a rewarding new company.

Once again thanks for reading Jason.

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