No matter what kinds of offerings you sell, there are companies that provide complementary products and services. If you create strategic alliances with these companies, you will be introduced to opportunities that you might not otherwise have found.
80/20 Performance, Inc. helps companies identify the attributes required for success in particular sales roles. One of the ways we use this information is to identify individualized training needs for existing sales team members. However, we do not provide training services. When we identify a training need, we refer our customer to a strategic partner that specializes in the appropriate type of training. Likewise, when our strategic partners’ customers need help beating the 80/20 rule in selling, our partners refer them to us.
You might also explore strategic alliances where your offering becomes one component of a larger, more comprehensive offering. In this scenario, whenever you or your strategic partner sells the combined offering, both of you win business.
It is possible to manage multiple strategic alliances, but this works best if your strategic partners do not compete directly with each other. Also, it is important to recognize that strategic alliances only bear fruit when the participants are serious about the relationship. This means that alliance partners must be willing to dedicate time and resources to finding opportunities for each other. Finally, it is critical that you follow through on any and all commitments that you make to your alliance partners and their customers. Your strategic partners are putting their own credibility and reputations on the line when they refer their customers to you. Don’t let them down!