Partnerships have become more popular these days, as it is a way to fast track your business by allying yourself with similar compliments to your business with a common purpose. The purpose here is to accelerate and grow your business.
There are 5 core pillars to partnerships over the years. These strategies can impact your business differently however when perfected can be a vital resource to your business plan. The core pillars of partnerships are as follows:
- Affiliate Marketing is also referred to commission marketing where an army of promoters gets compensated for the efforts in sending traffic or conversions to your sales platforms using various marketing strategies.
- Joint Ventures is the art of mutual promotion between two business contacts with the intention of both mutually benefiting each other through various marketing strategies.
- White Labeling is when you outsource a service and represent a business under your business umbrella.
- Strategic Alliances is when you align, partner or associate your business with other connections in your industry to compliment, brand and mutual benefit of partnership.
- Business Development is the art of calling prospects with the intentions of doing business together. Typically the above 4 processes are the intentions of a business development call.
The collaboration of businesses in a partnership can impact everything how about how quick you want to elevate your business.