Strategic collaborations are one of the most meaningful yet, probably the most overlooked form of offline marketing. In many cases, two companies are better than one company. While, in other cases two heads are better than one especially when they share expertise or combine resources in order to build new business. Many of us are so individualistic that sometimes it becomes difficult to consider relying on someone else. Collaborations are not a process of handing over part of your business to others. Rather, collaborations are just like networking system.
Different kinds of collaborations
- Key customers
- Industry leaders
- Any part of the supply chain
- Non-profit organizations
- Trade associations
- Chambers of Commerce
As defined by many studies, in the past 25 years, the number of alliances has grown by 25% each year. There are lots of benefits in these collaborations. These are:-
- Saving money on shared expenses.
- Expanding your customer base.
- Utilizing a partner’s expertise in a given area.
- Having a trusted advisor.
- Capitalizing on another company’s size or prestige.
Collaboration – Finding a common interest
Some of the most popular collaborations are demographic or geographic relationships. The question that arises before any collaboration is to ask, “Is there a company with a product or service that overlaps with my target audience?”
The wedding events companies are particularly adept at demographic collaborations. It can be said that by acting as a one-stop shop for people, every vendor wins. An example of demographic collaboration can be of the local coffee shop that displays a beautiful arrangement of flowers on its counter, provided by a local florist nearby. The coffee shop receives a beautiful addition to their beauty of decor, while the florist gets to reach out to potential customers in that area that may not have otherwise been aware of the services provided by the florist.
Collaboration – Making them work
Collaborations might seem to be a difficult task but it’s formation is not at all that difficult. Firstly, look for a common customer or audience. Once you’ve identified a company that fits the bill, open the lines of communication and all of your requirements then, give answer to the following questions to convince your potential partner:
- What can we package together to cut the cost?
- How can we work together to expand our reach in the market?
- What resources can we offer to one another?
- How is this profitable for both parties?
Collaborations can be done in many different forms, whether through a gentleman’s handshake or a formal contract. The best collaborations are completely voluntary, open-ended relationships that both the parties can leave at any time. These may come in the form of offline or real-world partnerships or may exist only online and not in the physical world. The following are the methods of collaboration with varied benefits:
- Advertising together.
- Sharing marketing efforts.
- Sharing trade show booth space.
- Co-authoring presentations.
- Co-branding promotional products.
- Offering referrals (with or without commissions).
- Redirecting business to each other’s Websites.
- Becoming “certified” by another company.
- Forming “preferred supplier” relationships.
- Integrating with noncompeting parts of the supply chain.
- Sharing information and advice.What are B2B meetings? Register for B2B Meetings now & take your business to next level
Business to Business (B2B) meetings is the emerging concept of this time. B2B meetings are most powerful when it comes to building meaningful relationships in the industry. It helps in staying updated with the current trends by learning from powerful speakers & helps in connecting with the influencers and ultimately with the target audience.
The one stop to register yourself for B2B Meetings & take your business to next level is Gurdasmal Hospitality & Consultancy Services. The company is well known in Delhi & NCR for its splendid services in this sphere. It is experienced and reliable since it is working in this sector from a very long period of time. It is a trusted brand name in Noida & is very dedicated and efficient in the market.
The services of fabrication & branding, organizing of India pavilion in events abroad, the facility of online promotions as well as physical and direct promotions of the event, part time jobs of hostess and diva is also provided by the company.
The company also provides with the services of Operations & Management of events in India & Abroad and is a potential organizer of CME (Continuing Medical Education).
It facilitates golf carts and shuttle services for events. The company also provides opportunity to the talented and young youth who can earn well easily. People in search of jobs can find ample of opportunities to portray their talents and earn for themselves easily.
The company is the best manpower service provider in Delhi & NCR. It also deals with providing services in the field of Healthcare, Wellness, Tourism and Hospitality. It is working in association with Indian Chambers representing the Indian Industry in various fields to promote India as the destination for Services exports. The company also organizes/co-organizes/provides services in Exhibitions, Trade Fair, Convention, and Conferences etc.