I’ve recently learned that the term “Strategic Partnership” is very misunderstood in the marine industry as it is in most industries. Most people and business owners as well as managers think it’s some sort of referral program. Some think is just another business that you my do business with from time to time that you really like. Actually none of those fit the tr
ue definition of “Strategic Partnership”. A “Strategic Partner” is specifically a business arrangement where 2 businesses that share a common customer base pool their resources to maximize their sales and business development. This could be in the way of sharing customer list or joint marketing. It can also be introducing your customers to those of your “Strategic Partner” and reversed. It’s also a great source of business and marketing collaboration and networking.
My key “Strategic Partner” is Impact Media in Wilmington, NC. Brian Tucker the owner and I meet weekly to discuss opportunities that we share and how to best pursue them. Impact Media is a web development firm that have built multiple websites for me and for a number of my clients. We also work on the project together. The ION project creates websites exclusively for the marine industry user. We have combined by knowledge of the marine industry needs with Brian and his team’s expertise to create a website option that solves many of today’s marine industry sales challenges. Brian also provides valuable advice on our projects that we share and those I do individually.
A relationship like this requires a number of things to be successful. First, it requires willingness on both parties to contribute equally to this powerful business relationship. It also requires time. The time to collaborate with each other in search of the best ways that both parties can benefit. It also takes trust. The trust of both sides to share valuable information and expertise.
In today’s social world, “Strategic Partnerships” fit right in. They’re about the one business promoting another business. It’s about assuring their customers that supporting another business would be a good investment. It’s also about synergy and believing that 2 companies working together is MORE than twice as a strong as the same 2 companies working apart.
For more information on seeking and developing a “Strategic Partnership”, just give me a call at 910.231.7313. I would love to share my thoughts to help you create your own “Strategic Partnerships”.
