You have determined that the development of business alliances is a good idea and they would benefit your bottom line, but you are not sure where to begin. We have some great news – you are in the right place.
In the world of running a business, it can be easy to be bogged down in your day-to-day operations and forget to take a step back to evaluate your overall success. Continue reading →
What is a strategic alliance? What are the risks? What are the common mistakes? What is the importance? How can strategic alliances end? What are the criteria? How should strategic alliances be managed? What are the different types?
Here is what you need to know about strategic alliance. Continue reading below to see a list of alliances and what considerations you must evaluate. Ask some of these questions before you start your alliances. Continue reading →
Rapid advancements in technology have changed the way strategic alliances are born, managed, and terminate. This inevitable evolution has led to valuable alliance-based benefits, such as streamlined and time-efficient processes, more opportunities for growth in individual businesses and their joint market, and the ability to increase customer relations. It is also important to understand the history behind these alliances. Oftentimes, an old process can lend invaluable balance to its evolved counterpart. Continue reading →
Your prosperity as a supplier hinges in upon your ability to pave a clear path for achievement for your distributors. You provide your distributors with guidance and a framework for success. Below are three keys to success for your channels of distribution.
1) A strong online presence. With the majority of product searches now beginning on the internet, active online presence required. Provide your distributors with educational information, as well as product data for their website. A strong online reputation can be created with the help of the following:
A comprehensive search engine optimization (SEO) campaign
The inclusion of useful content on your distributors’ website
A well-designed website that is responsive and easy to navigate
2) Accessibility. Customer expectations for speed of service are higher than ever. If your distributors are only available for support on weekdays between the hours of 9:00 a.m. and 5:00 p.m., you will lose market traction. Even worse, prospective customers may immediately turn to one of your competitors, if they get the impression that your distributors are not accessible. Choosing distributors with 24/7 accessibility will foster higher levels of customer satisfaction and help your business thrive.
3) Robust product training. Your distributors need to be armed with tools that will help establish them as industry experts. Your distributors serve as the frontline responders to customer inquiries. Information provided to them assists them to win over new customers. Here are some ways to ensure that your distributors are well-trained on your products:
Use a learning management system (LMS) to enable distributors to train online at their own speed
Incorporate content quizzes into your training regimen to ensure trainees have absorbed content
Use a multi-media approach to ensure that participants are engaged in the training process
Revamp your training initiatives on an annual basis to ensure they are current
On a closing note, remember that consistency is key in promoting your brand through your distributors. If you focus on what it takes to make your distributor a successful business, you will have a strong relationship. We invite you to contact us to learn more about fostering success among your channels of distribution. We look forward to hearing from you!
Your channels of distribution create the main connection between the value proposition of your products and your customers. Hence, your distribution channels are integral to your business model and marketing position.
Young companies focus on their first 5-10 direct customers. Your next task, how to reach 100 or 1,000 customers. Continue reading →
When planning to form an alliance with another business, do your research. Become knowledgeable on all of the ways you can make your new alliance successful. However, you also want to be aware of the obstacles that destroy business alliances and make sure to avoid them.
Cloud computing’s efficiency may well be challenged by the 50 billion devices that are predicted to connect to the Internet by 2020. That’s a massive amount of data produced and consumed by the Internet of Things (IoT). Forget gigs, terabytes or petabytes. Continue reading →
Relationship building and networking is gold to any startup. The more businesses and consumers your organization knows, the more opportunities inevitably come your way. Alliances and strategic partnerships within the IoT marketplace can be highly effective ways to build better products and a stronger business. Continue reading →
You have a great product or service to offer. You have a strong dedicated team supporting your business. You have clients and customers for whom you create value. As your business grows, Strategic Alliances with carefully selected, like-minded companies and individuals can be the gunpowder that ignites your business – taking it to new heights!
However, what is a strategic alliance, and how is it different from ordinary networking? Continue reading →
Establishing and building a strategic alliance with another company is one thing. Managing that alliance for the long-term is a completely different animal. If you are planning to build an alliance with another business, you also need an alliance management plan set in place. Use that plan to monitor and grade the success of the alliance. Continue reading →