4 Sources for Building a Strategic Partner Network

It’s Referral Monday, and on Monday’s, my blog post is about Referral Marketing and how to develop a Referral Engine for your business.

Last week, I did a brief presentation to a small group of NAWBO—Orange County members about developing strategic partners.  When I do these kinds of discussions, I am often asked about the steps in developing strategic partners—who should I be looking for?

Building a Refferal Program
4 Sources for Referral Partners

Below are 4 sources to think about when building your strategic partner network.

1. Target Market.  It’s always about the target market.  You want to access more clients just like those that you have, so why not develop a strategic partnership with someone who already has trust and a relationship with the kinds of clients you are looking for?  Think about those businesses that cater to the same target market as you do. 

2. Think Next in Line.  Think about what other products or services go hand in hand with those that you sell.  If you’re an interior designer, you’re going to want to develop partnerships or relationships with contractors, painters, maybe those in the appliance business.  Think about the other types of products or services that come before and after you in your business.  For a commercial photographer, that might be a web designer or an advertising agency or marketing consultant.  In the case of a financial planner, maybe an estate planning attorney and a personal tax accountant. 

3. Think Outside Your Industry.  Who else in your community has access to the kinds of people in your target market?  There may be resources in your traditional face-to-face networking community that share the same business philosophies and service principles as you that might make excellent strategic partners, even though what they sell or do might be totally unrelated.

4. Ask Your Customers.  Ask your existing clients about other resources they need and are looking for.  You always want to be a trusted resource for your clients for whatever help they may need and the more you’re able to bring reliable and responsible resources to the table, the more social currency you’ll build for yourself and your business.

 Where else have you found other valuable strategic referral partners?

Leave a Reply

Your email address will not be published. Required fields are marked *