6 Ways to Boost Your Sales Through Partnerships and Collaborations

6 Ways to Boost Your Sales Through Partnerships and Collaborations

You have a good number of followers and a great marketing strategy in place; you’ve implemented all the tips in the book to improve your sales, but you seem to have reached a plateau. If you are wondering what else can be done, think about the power of joining forces.  

Remember two heads, two hands and most importantly, two voices are stronger than one. That’s the concept behind this effective marketing strategy that results in reaching a completely new audience with no extra effort.

Sounds interesting? Here are 6 options to get you started. 

1. Podcasts

Podcasts are booming these days.  If you haven’t heard of podcasts, they are a series of audio files that people can download or stream to a device for listening to discussions on particular topics or current events. The idea of using audio to spark interest, build a loyal community and grow business while highlighting online presence needs no introduction. Adding the idea of collaboration to leverage this power in reaching a completely new audience is clever and rewarding. Using your trusted voice to promote another business within your community, while your partner does the same for you, is a sure way of opening new sales venues through exposure in completely new regions.

The process of converting your podcast from an idea into reality involves some background work that is crucial in getting your voice across and translating that into growing sales for your business. The choice of platform to host your podcast depends on factors such as budget, ease of use, storage options, audio quality, customer service etc.

Some of the best podcast hosting companies that you might consider are:

2. Guest blog posts

Blogs are a popular choice to produce high quality content that can consistently drive revenue while building trust in your area of expertise. Guest blogging is when a company writes a blog and publishes it on another company's website instead of their own website.  Guest blogging is based on a mutual agreement, where high quality content from a partner is published on a popular blog of the other partner to attract new readers. It is a win-win for both partners and when done right, results in increasing the community of followers for both.

To ensure success, guest blogs must guarantee quality and come from an expert who has a good fan following. The mutual collaboration must be a homogenous mix to speak to the interest of both communities of readers. Which means, the niche market of each must be similar, or at least complement each other.

Some tips to keep in mind for guest blogging are:

  • Backlink to the authors website
  • Automate submissions with plugins like Query Monitor or Easy Query for WordPress
  • Establish rules for guests
  • Provide constructive feedback
  • Monetize your blog for mutual benefit

3. Affiliate marketing

Every company needs a great marketing strategy and this is a good one.  In this case the company or person would create an affiliate program where anyone who signs up as an affiliate would earn a commission for marketing their products or services.  People interested in being affiliates typically search for products they enjoy, then they promote the product with the expectation of receiving a piece of the profit from each sale they make. This strategy is based on revenue sharing and works to the advantage of both the business owner and the promoter. Look at it as outsourcing your marketing responsibilities to a third party and sharing a small percentage of every sales transaction that results from the promotion. The promoter earns a percentage of the profit by creating and sharing compelling content while the business owner earns through the sales that the affiliate marketed for.

Affiliate marketing typically works based on predefined customer actions such as clicks that lead to the website or more importantly sale transactions. URL’s leading to the business are provided to the promoter to publish within their content and all sales are tracked through personalized affiliate links. Including offers such as discounts for affiliates can attract better sales.

Some affiliate networks for connections are:

4. Event co-hosting

Events are a great way of showcasing products and services to audiences both online and offline but can be a daunting task. The investment in resources including time, money and effort is big. Choosing to co-host, can take the marketing up a notch and draw a wider audience while sharing the work. Like other partnering, this alsoworks when you collaborate with the right partners, sponsors, vendors and even speakers/performers for a shared goal.

The type of event depends on the duration, audience and expected result and can include conferences, contests, charity drives etc. How and where the event is marketed matters. Partnering with popular sites such as Eventbrite for example can lead to your event being discovered by an unknown audience in your geographical location or beyond. Facebook is another popular choice with 700 million people worldwide using Facebook events each month to market and 35 million viewing a public event on Facebook each day. 

Pay special attention to the following while preparing:

  • Event page
  • Ticketing method and pricing
  • Video teaser
  • Promotion channels
  • Special offers

5. Intermediary

Using intermediaries to buy/sell is not new and has been around with the classic real estate agents playing a vital role. In the digital world, several websites and platforms are the go-to for people looking at standards and comparison shopping. Intermediaries come with common benefits that can translate into enhanced sales. The intermediary basically acts as a link between a product/service and a buyer increasing brand loyalty and awareness and ultimately purchasing. 

A popular book author can be an intermediary and promote a business through their writing in exchange for some benefits.  Asset Creative House, an agency that promotes authors to book bloggers/reviewers is another example. By giving a free book sample to the blogger they provide an article on their page, promoting the author to potential readers. The possibilities are endless and need exploring to find the ones that work for you.

6. Shared online lead magnets

Haven’t you been lured with freebies on the internet in exchange for your email address or telephone number? These are lead magnets, offering incentives to gain contact information. Gaining attention on the web is not easy, so if you are expecting to grow your email list, your offer better be good.

To a consumer, a bigger and better offer in exchange for the same email address is a value deal. The collaboration grows the acquired list for all businesses involved while addressing a subject from different aspects. Lead magnets can vary depending on the business and can include free eBooks and templates, trials, courses or even discount coupons. Identifying your audience and value is key, before working out the other details such as creation software and distribution method.

Some tools to create visually appealing lead magnets are:

No matter which method/s you employ to boost your sales, the takeaway here is that partnerships can build bonds, add value, grow clients and boost sales.

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