A strategic alliance can significantly open your market
opportunities, connecting you with a desired audience.
Forming a strategic alliance should begin with taking an
honest look the many aspects that make up your business -
and making sure the other partner fits those elements well.
Finding the right strategic alliance is crucial. The
concept of two minds being better than one can work, but
make sure to take a look at the following:
Vision: Assess what the company wants to become. Then,
based on current practices, compare the vision with the
company's potential to achieve its vision. With that
information, you will have a clear idea about what the
company needs to achieve that vision. Core Values:
Determine the organization's values. Ask what it cares
about and who will it benefit. These answers will play a
key role in choosing your alliance, as you'll want to find
a company with beliefs comparable to your own. Evaluation:
Evaluate your strengths and be objective about your
weaknesses. Determine where you succeed and where you are
challenged. Your time is most valuably spent doing what you
do best. If you spend more time doing things you struggle
with, you are losing money. Find an affiliate company who
succeeds where you struggle. Chances are an alliance with
them will also come with added value to your own clients
and would give you time back to do what you do best.
History: Evaluate when the company started, its major
successes and failures. Make sure your understanding of
their history is detailed and complete.
Real Issues: Now it's time to start thinking about the real
issues the company has. Make bullet points of everything
that is happening internally and externally. Include
economic conditions, legislation, and public perception.
Goals: The company's goals should be not be to make money,
but to provide a tangible benefit to someone or something.
Making money is a symptom of filling a need. Strategic
alliances could enhance the benefit to your clients, which
will equally greater profits.
Key Publics: This may be the most important aspect to
consider when shopping for an affiliate. Pick at least ten
of your key publics and prioritize them. Define their
importance: who they are and why they are important. When
two companies have mutual publics, they have a common goal.
Message Statement: Consider the perception your public will
have about your company. Now ask yourselves what are the
top three things you want to be known for. Forming an
alliance can create or re-enforce the essential message you
want your clients to hear. Sending the desired message is
invaluable and many companies have used alliances as a
creative marketing tool ultimately getting the attention
they desire.
When considering forming a strategic alliance, there are
many issues to consider. Once you've collected all the
data, analyzed the company's current situation in
comparison to where they are going and ultimately where
they want to be, you may find an alliance a great vehicle
to get you there.
----------------------------------------------------
Christian Fea is CEO of Synertegic, Inc. A strategic
Collaboration Marketing consulting firm. He empowers
business owners to discover and implement Integration,
Alliance, and Joint Ventures marketing tactics to solve
specific business challenges. He demonstrates how to create
your own Collaboration Marketing Strategy to increase your
sales, conversation rates, and repeat business.
Contact: christian@christianfea.com
http://www.christianfea.com
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