Every business owner at one point or another would like to offer additional services to a potential customer base. The problem that many business owners face is their ability to secure capable talent that can implement effective strategies to assist the customers that need additional services. One way to offer existing customers a solution to a problem they would like solved is to form a relationship with one of your competitors who can offer the service you need for your customer in exchange for helping your competitor fill a void in the services they offer their customers.
You are essentially saying, “We do not want to start and develop a division that you already have so if you can help our customers with a specific service that you offer then we can help your customers with a service that we have and excel in that you might not offer”.
Strategic alliances when done correctly can benefit both organizations greatly. There has to be a level of trust between the two organizations so if you are going to begin a strategic alliance with a firm you normally would be competing with you should start with a small deal and build on that experience. If your competitor does the service they are asked to do without trying to take your client and offer them additional services without your authorization then you know you can continue to work together and raise the profile of the type of customers you put into the hands of your competition.
Additionally, your competitor has to honor their end of the agreement and provide you with customers that need services that you provide. Strategic alliances allow you both to benefit and grow together. One example of how a strategic alliance can work with digital marketing online is if one digital marketing agency is quite good at creating excellent content that converts visitors into leads or direct sales and another digital marketing agency is quite good at creating backlinks to a websites, the two may be able to work out an exchange.
The first digital marketing agency can create relevant original content that converts readers into prospects or new customers for the second digital marketing agency that excels at providing backlinks. In turn, the second digital marketing agency can provide backlinks to the first digital marketing agency in exchange for the content it has received from the content creating digital marketing agency.
If you are able to create relationships with competitors throughout the digital marketing world you can leverage those relationships but first you have to take a good look at what your strengths are and where another agency could help you with your weaknesses. Once you know that it is just a matter of finding the right digital marketing agency to partner with and you can grow, reduce costs, increase efficiency, gain clients, and prospects together.
Sharing talent in a great way to expand your reach and increase your chances of success with little effort by using the resources that are already at your disposal. This requires little effort on the part of both digital marketing agencies and can lead to enormous spikes in growth for both parties when done correctly and honestly. There has to be a mutual respect between the two parties and if that respect is there then the two agencies that have entered into an agreement together can simultaneously increase revenues for each other over time.
Strategic alliances can be used in any industry even the most competitive industries in the world. Both Hewlett-Packard and Phillips, two highly competitive global brands used strategic alliances and continue to depend on strategic alliances to this day to grow their organizations internationally. A large part of both companies global revenue source comes from strategic alliances. Those are two giant companies but the same principles apply to digital marketing agencies that want to grow nationally or internationally.
For more information on forming a strategic alliance with our firm fill in your information below and we will get into contact with you with in 24 – 48 hours.