Host-Beneficiary Partnerships |
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| 2007-11-06 | No history |  | Add My version | |
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Host-Beneficiary Partnerships
Are
Win
Host
Beneficiary
Client
Education and information
Value creation
Sometimes discount/commission
Usually much more
Endorsement necessary
Personal
Genuine
Pre-eminence
Asset
Clients come to you
In the client's mind
USP
Extended USP
Mutually beneficial
Bi-lateral
Try this first
Multi-lateral
When you have experience
Match value propositions of all parties
Not always cash
Always grow your business
Not
Barter or trade
I have this
You have that
Let's trade
Joint venture
Marriage
Cross the lines
Not symbiotic
Strategic alliances
Commercial need
Mates rates
Loss leaders
How it works
Simple case
Sales message
From Co. A
To Co. B's
Suspects
Prospects
Clients
All / Filtered
With
Endorsement by Co. B
Benefits
Host
Preeminence
Adding value
New opportunities for your clients
Respect
Cash flow
Increase sales of your product / service
Sell other products / services
Without overheads
Bundle
Special offer
VIP
Excess inventory
Downtime
Loyalty
Valuable communication
Beneficiary
Leverage
Access
Qualified prospects
Build your database
Endorsement
Validation
Trust
Existing goodwill
Overcoming sales barrier
Like a referral
Reduce costs
Marketing
Prospecting
Faster
Time to market
Business growth
Increase revenue
Utilize downtime
Excess inventory
Increase profitable sales
Exponential profit growth
Minimize non-profitable sales
Exponential cost reduction
Obstacles
Greed
Difference of results amongst the parties
Fear
Will it take away my existing clients?
Will they have less to spend with me?
Who controls what?
Don't need direct access to their database
Call to action
Who makes what?
Clear mechanics
win-win-win
Ultimate winner = client
Fair/equitable/proportional effort
Conservative estimates
Who?
Host
Beneficiary
Switch over time
Obstacles to the sale/introduction
Competitive products / services
Don't use H-B partnership to make up for your deficiency
Finding a partner
Who has my clients?
What excess inventory do I have?
What else can I offer?
Potential partners
Self-select into process
Worthy of your trust?
Expedite the thing that puts money in your pocket
Trust them with the future lifetime value of your client
Strong USP
Doing an outstanding job
Any aspect of your life or business
Wow you with their service
People
Businesses
Suppliers
Supplier / Client
Lowest hanging fruit
First
Start simple
No back end revenue stream
Leave for more advanced arrangement
Start small
Low risk
Do something that's fun!
Remain independent
Host - Hyphen - Beneficiary
Setting up the relationship
Quantify
Client acquisition cost
Lifetime value of a client
Marginal value of a client/sale
Frequency of purchase
Available assets
Both sides
Be conservative
Communicate
Product / Service descriptions
Testimonials
Non competitive product / service
No loss of income
Augmentation of profits
Easy for host
Beneficiary creates marketing material
Guarantees, support, indemnification
Host can verify orders
Educate host / staff
Methods for dealing with issues immediately
Conservative estimate of $
Agree
Responsibilities
Timeframes
Management
Reviews
Exit strategies
Taking action
Start small
Start simple
Test and measure everything
Communicate frequently
,84 ,2 Be flexible
Make sure everyone is winning
Be creative
Sometimes best partners are unrelated to your business
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