RESOURCES & LINKS:
Download the Assets mentioned in this course: https://neilpatel.com/training/linkedin-unlocked/
So what is a strategic alliance? Strategic alliance is nothing more than just people saying they’re partnering together. It means that they want to expand their markets, their business, their customers, their profitabilities, pretty much a way to grow faster. And the reason people like partnerships is because partnerships allows you to scale quickly, versus if you had to go out there run marketing campaigns, get them up, do all the testing.
And this works well in both B2C products and B2B. It doesn’t matter what you’re selling products, services, physical, digital, alliances work. And there’s a lot of different ones that you can use such as joint ventures, affiliate marketing, co-branding, hosting, equality partnerships, endorsements, acquiring leads, licensing, doing cross sells between your sales team, new products, new markets. One of my favorites is affiliate marketing.
As you scale up, you should get more efficient and so should your margins, right? You should see that in your profitability. What I also recommend that you do is, as your businesses growing from these alliances and as you’re continuing to expand, not just into territories, but new product lines, new services, you can use these alliances to test out these products and services to see if they’re working or not, so then that way you’re not putting in too many resources into them.
So now, that you understand the benefits of a strategic alliance, you need to now look at your strategic objectives. You need to start with the big picture. And the best partner will have done this many, many times for other people. So look out for someone’s track record as well when you’re partnering with them.
If you can provide the customers better solutions, more things that they’re looking for, even if you don’t provide them, it creates a win-win where they’re going to be more loyal to you and they’re going to be happier with you as well.
I recommend you check out groups on LinkedIn. There’s groups for everything. And within these groups, you can strike up conversations with people.
Let’s say marketers, business development people, salespeople, executives, whoever it may be. So that way, you can strike up a conversation and potentially create this new partnership. And you can nurture these relationships because once you nurture them and you get to know them, then the partnerships will happen over time. It’s not quick, it takes a while, but once you get them going, you can build a massive business just through partnerships.
And when you’re doing all of this, keep in mind, you got to execute and execution is the most important part. If you don’t execute on everything, well, you learning all these concepts. Nothing’s really going to happen if you don’t execute. You want to monitor the results, you want to measure them. See what’s happening. What’s working, what’s not working.
Tweak, because even though something sounds perfect, just because it sounds perfect, doesn’t mean it always pencils out and it works the way you want right away.
Thank you for your time today.
I look forward to continually helping grow your LinkedIn audience, as well as just your traffic conversions and sales in general.
► If you need help growing your business check out my ad agency Neil Patel Digital https://npdigital.com/
►Subscribe: https://goo.gl/ScRTwc to learn more secret SEO tips.
►Find me on Facebook: https://www.facebook.com/neilkpatel/
►On Instagram: https://instagram.com/neilpatel/
#SEO #NeilPatel #DigitalMarketing