Strategic Partnerships Strengthen SalesOct 26, 2023
Why is it critical to have a constant flow of new clients to your business?
Acquiring new clients is one of only three ways to increase your top-line sales. The other two are to increase the average frequency of your clients’ visits and to increase the average monetary value of each visit.
While acquisition for the sake of top-line sales growth is one reason to have a constant flow of new clients, the other reason is you will have clients who leave your business, often due to no fault of your own. You need to backfill this churn of lost clients with a healthy flow of new clients.
One of the highest forms of leverage and the most valuable things you can learn how to do is sell one to many. To do this, you will need to leverage the influence of others in the form of strategic partnerships.
Ask yourself: who already has the trust and confidence of my prospective clients? Here are some examples – the General Manager of a luxury car dealership, the owner of a fine dining restaurant, an accountant who serves the affluent, and a real estate agent who focuses on the nicer homes in your target market.
If you create a mutually beneficial relationship with any of these people, you can leverage the influence these individuals have with your prospects and offer a gift to be given to your prospects by the influencer.
For example, you could place a $100 gift card and a logo YETI mug in each Mercedes sold in your town. In exchange, you can take care of the dry cleaning and shirts for the General Manager of this dealership.
Keep a list of potential strategic relationships on a clipboard or in your journal. Start each week figuring out how you can nurture and give to these potential strategic relationships.
Have a great day!
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