Ten Steps to Create Strategic B2B Partnerships That Grow Your Business

There are several stories of strategic alliances launching highly successful marketing campaigns. Consider IBM, Apple, Adidas, and the World Cup and Accor Hotels! The modern consumer market is more obsessed with social media platforms. Hence, brand marketers seek online influencers to form alliances. The objective is to create a buzz for their services/products. Strategic B2B partnerships are termed to be an affordable and time-saving way to improve a brand. It also helps generate new leads, expand your market, grow your business, and increase revenue.

10 Steps to Form Strategic B2B Partnerships

1. Identify partnership types that complement perfectly your core offering:

Being creative allows you to form healthy relationships. Some suggestions include creating affiliates, blog contributors and content partners, joint webinars, two-way referrals and speaking opportunities.

2. Things to do before starting a partnership:

Ensure having great Taster / Opt-in / Freebie / Lead Magnet, etc. Develop a nurture sequence with a small email series to generate trust. It also directs them to your published blogs. Automation can help. Retarget those not having taken any appropriate action on your lead page. For this, establish Facebook Pixel. Post videos on your LinkedIn profile and About Page.

3. Research Providers:

Prepare a list of providers of your chosen services/products. Rate them to the bottom. Travel the route that your customer is likely to take. Then shortlist highly rated prospect partners who offer value and have amazing lead magnets. Once you complete the entire process, identify Unique value propositions, outsource research of shortlisted candidates, list creation and prospects.

4. Find out the perfect services and product partners:

Create a profile of what your ideal partner should be. Identify what people seek prior to shopping for your services and products. Also, get to know their requirements after they have purchased your services/products.

5. Connect with prospective partners:

Be active on different social media platforms like Facebook groups and LinkedIn. Comment, Like, and Share wherever appropriate. Identify influencers and promote Affiliate Marketing.

6. Prepare a pitch outlining the benefits derived by your partners in this strategic partnership:

Identify who are you, and what are your benefits as well as those of your partners and clients. Get to know your values, whom you plan to provide solutions to, what can you provide, and your Unique value proposition.

7. Post-call email template:

Prepare a canned response. Specify clearly the benefits derived from this partnership. Identify the next steps and what to do next. Avoid lengthy emails. Rather, keep it simple and to the point of making it effective as well as seeking a CTA.

8. Call up the Affiliate Marketing company/firm that you plan to pitch to:

Check out their YouTube channel / LinkedIn / Website. Search for their offered services/products, testimonials, values, team, and about page. Also know what the company deals with, their raving fans, lead magnet quality, etc. A win-win partnership can be developed by getting to know about each one’s business!

9. Communicate:

You should communicate every now and then to ensure everyone involved is on the same page. This helps avoid unwanted confusion and fosters healthy discussions and better relationships

10. Explore further:

Try to explore available opportunities. Sending across follow-up emails. Both should be aware of the following steps to avoid confusion. Also find out who is responsible for what, measure, tweak, and repeat. The objective should be to find better and more effective strategic alliances.

Be aware of pitfalls

B2B Partnerships can help scale your business. It also saves precious money and time. However, before entering into any B2B partnerships, do know the common pitfalls. Remember, not all joint ventures are successful. Hence, take a cautious approach and ensure following the steps. You may consult an industry expert for guidance.