Leveraging Customer Relationships as a Strategy to Develop Your Business

Leveraging Relationships as a Strategy to Develop Your Business

It’s not about just getting something from the other person, it’s also about mutually helping each other. Both parties must be winners at the end of it and this is how you build a good base to an ongoing successful business relationship.

Collaborate or Stagnate

Whether you want to work with a charity, a trade association, a community group or other businesses, one secret to deliver your message is networking through collaborations.

You can use collaboration to:

• Leverage your time and money
• Share resources
• Earn passive income
• Cross promote activities
• Gain major visibility
• Break into a new market
• Establish your identity quickly
• Expand your product/service offerings

How Tos

1. Value and Resources — Value is often measured by a desired outcome. You also need to understand the difference between owning and using a resource. With strong relationships, you can gain access to the resources you need, even if just for a specific project.

   • Cultivate purposeful relationships with a true exchange of value.

   • Strong relationships are necessary to access resources you can’t purchase.

   • Building relationships is about exchanging your own value for the tools you need to serve a customer.

2. Choosing the Right Target — If you need web developers, you will not approach a stock broker. Sometimes you might need to leverage relationships with multiple parties to achieve one goal, so planning your way through is important.
   

   • Approach those people who have the things you need, but be ready for a fair exchange.

   • Soft relationships skills can help you do more with less by filling the needs of those who can advance your objective.

3. Cross promotion -Focus on solutions to your target market’s pain or desires and go win win.

• Use tools like raffles, email blasts, affiliate commissions to promote each other

• Use cobranding strategy if you are entering a new market. Find yourself an established partner who will instantly give you credibility and reduce market penetration overheads.
• Build up the name of the business your are promoting at your best, you will get it back in a way or the other.