What are strategic partnerships and how do they help you grow your business?

Strategic partnerships are one of the best ways to generate long-term revenue opportunities for your business. This aspect of business development allows you to strengthen your business through the network you develop. In this blog post, you will learn more about strategic partnerships and the benefits you will gain from them.

What are strategic partnerships?

Strategic partnerships are collaborations between businesses that complement each other. They’re typically not direct competitors and can serve similar target audiences. Through strategic partnerships, companies can work together to step up their market presence and generate new revenue.

Here are some examples of potential B2B partnerships:

• Graphic design agency and copywriting agency

• Tax accounting firm and staffing agency

• Commercial cleaning company and freelance electrician

These businesses don’t step on each other’s toes or compete for market space. However, they do provide value in very specific ways for their clients.

How do strategic partnerships help you grow your business?

Now that you know a little more about strategic partners, is it worth the effort to build a network? Below are the benefits you receive from an active strategic partnerships program:

1. More revenue opportunities: Tag teaming with other companies in different industries gives you the chance to get in front of new customers. You’re able to get introductions to different networking events, tradeshows, and more.

   Strategic partnerships give you the chance to reduce customer acquisition costs. This is due to referrals you can receive from your partners without having to spend more money on ads.

2. Stronger brand value: More people will hold your brand in higher regard. Why? Because brands they already know and trust are vouching for you. The trust levels are higher than they were before you began your partnership.

3. Greater value for current customers: Your customers will receive even more value because of the benefits you’re receiving through your partnerships. It’s not uncommon for discounts/deals to be set up between partners. Or even more service options because your network is that much stronger.

Why not make more money and strengthen your brand through strategic partnerships? They’re worth the effort.

How to get your first strategic partnership

Getting your strategic partnership isn’t as intimidating as you might think it is. Here are clear steps to finding and creating your first strategic partnership:

1. Identify your partnership goal: What do you want out of your new partnership? Do you want more referrals? Lower shipping costs? More product offerings to add to your current products? Clarify your partnership goals and what you truly want. Keep in mind that you can create different partnerships for different goals.

2. Brainstorm potential partners who will help you achieve your partnership goal: Now that you have clear goals in mind, identify complementary partners who can help you accomplish your goals. It’ll take some time to do the research but the payoff is worth it.

3. Create a compelling offer: What’s something you can offer in exchange for a partner helping you achieve your goals? One offer you can provide partners who send you closed business is rev share or a percentage of new revenue. For partners who are a part of your tech stack at a discounted rate, you can provide them with new leads.

4. Pitch potential partners: Share your unique offer with the potential partners you’ve identified. Ask questions to discover more about what they’re looking for then share how your offering helps

5. Sign potential partners: After a potential partner expresses interest and wants to team up, have them sign on as potential partners. Make it official!

6. Onboard new partners: Once they’ve signed, add them to your roster of partners. Notify all stakeholders internally so they can bring your new partner smoothly.

7. Support new partners: You can’t expect referrals to just pour in. Partners will need support. You can do this through training and providing marketing resources. You’ll also need to check in with them regularly.

Strategic partnerships are one of the best revenue opportunities you can invest in for your business. You customer acquisition costs are lower. You’re also able to create a more stable source of revenue. It’s important to play the long game. Remember that you’re investing in relationships with real human beings!

5 questions you should ask when choosing a marketing agency for your brand

Choosing the right marketing agency to help you take your brand to the next level can be stressful but it doesn’t have to be. Depending on where you live in the world, there may be several marketing agencies all within a few miles of you. You could even choose to work with in agency that’s based in a different city. It all comes down to what you need and want.

To make your life a bit easier, we’ve compiled a handful of questions and answers that’ll guide you in your process of hiring a marketing agency. It’s important to keep in mind that not all marketing agencies are the same. They vary in different ways such service offerings, skillsets, prices, and industry specialization.

Questions you need to ask when selecting a marketing agency

1. Do you have a specific industry you specialize in or prefer to work with?: Why would you hire an agency who only works with restaurants for your karate studio? Why not hire a marketing agency who focuses on the health and fitness space? By choosing a marketing agency familiar with your industry, you reduce the amount of time the marketing agency takes to get up to speed with your brand. This will increase the chances of them understanding industry-specific terms and how things are done for your business.

2. Are you a full-service marketing agency or do you only offer 1-2 services?: Most agencies don’t provide all the marketing services you’re looking for. And if they do provide all of the services, there’s no guarantee that they’ll do everything well. You may end up needing to work with 2-3 different agencies to cover your marketing needs such as SEO, PPC, and social media marketing.

3. Do you expect me to create content?: This may come as a surprise to you but not every agency will produce content you need. This goes for both written and visual content. The web design company you hired may expect you to do the copywriting. The social media marketing company you selected may want you to do product photos. If you don’t want to do content creation, you need to hire a marketing agency who does.

4. What’s your process for getting things done?: This your chance to get a better understanding of a marketing agency’s workflow. You’ll want to find out if they have a quick turnaround time or if it’s going to take 2 weeks or more to get anything done. Going deep into this question will also help you know how many people you’re working with to complete marketing tasks.

5. What do you expect from your marketing clients?: Depending on the agreement you have with an agency, you may be expected to meet once a week or once a month. The marketing agency you’ve chosen may want you give regular feedback on upcoming posts or even participate in photoshoots. You can prevent a great deal of frustration down the line by setting appropriate expectations for yourself and for the agencies you’re working with.

Use the questions to guide in your journey to finding the perfect marketing agency for your business. Give yourself time and flexibility. It’s important to keep in mind that most agencies do not offer every single marketing service you can think of. For example, not all marketing agencies provide web development, video production, and Instagram ads. Some marketing agencies may only offer copywriting while other agencies will just do Google PPC. It may take you some time to find the right marketing agency for you and that’s ok.

Got questions about what it’s like to work with Jamias Creative? Let us know by filling out the form below!

Ben Webber of Big Red Jelly shares how to hire a web development company and more!

Having an online presence that generates revenue for your business is more than just having a website. You need a website that’s consistent with your brand and focused on serving your target audience. In fact, having a consistently branded website has been seen to increase revenue by 33%. When you have a site that’s easy to navigate and find information, 73% of consumers are more likely to make a purchase from you.

We have Ben Webber of Big Red Jelly here to help you gain a better understanding of what a well-branded website can do for you. Big Red Jelly has worked many notable brands such as the Utah Warriors, R&R BBQ, Swig, and Washington State University. Below are Ben’s insights to help you learn more about what goes into a quality website and how to choose the right web development company for your business needs.

Q: How did you get started building websites for businesses?

We first got into building websites because we saw a significant need in the market for affordable, professional websites geared towards small and medium-sized businesses. Many of the entrepreneurs, solopreneurs, and small-business owners wanted to do more with their digital marketing than just social media and emails. They either lacked a website completely, were using the same website built in 2009, or their website was poorly designed and not user friendly. We hired free-lance designers to work with Big Red Jelly to get it done and eventually hired local talent as in-house designers.

Q: Why is it important to have a branded website?

A brand is so much more than a logo. While a logo is an essential part of a brand identity, expert branding includes audience research that informs everything from a company's logo, color palette, messaging, social media presence, and overall website design. A strong, cohesive online presence is best suited when all of your online identity is synched and working in synergy - from your social media to your website. A website is a snapshot of the who, why, how, and why a business does what it does. A branded website will answer those questions in your company's tone of voice while showing off your personality. Consumers want to connect with your company, and a branded website helps consumers connect through the values communicated in the messaging and visuals of your website.

Q: What role does a great website play in increasing revenue?

Your website can be your biggest asset when it comes to increasing revenue when built properly and optimized for online business. All great websites will have clear calls to action - schedule a consultation, buy a product, fill out a form, etc. Calls to action create opportunities for conversion, and conversions lead to increased revenue. Websites integrated with tools like CRMs (Customer Relation Mangement), email marketing software, e-commerce platforms, and scheduling opportunities will free up your time by making your processes fully automated, leaving you more time to improve your business. Every great website needs to use analytics and data to understand its visitors. Understanding your visitors helps you refine, define, and resolve areas of potential weakness.

Q: What are 3 questions a business owner should ask when hiring a web development company?

When you're looking to hire a web development company you should always ask three things:

1. Is the company's approach collaborative?

Does the web development company have a collaborative approach, where your vision, ideas, and concerns are at the forefront? You want to avoid working with a company that copies and pastes past work, switches out logos, and hands over a generic website without understanding who you are or what you do. Choose a web builder that listens to, understands, and clearly communicates your company's mission, vision, services, and products for your website visitors.

2. Does their portfolio showcase websites that offer similar styles and qualities of work your company wants?

A portfolio shows what a company is capable of. Identify different aspects of design, functionality, and user experience that you enjoy in other websites. Knowing what you like and need before contacting a web development company will help narrow the search when choosing who to work with.

3. What tools and integrations will this company use to better user experience and increase conversion for my website?

Any website can have a pretty front-end, but the real power is found behind the scenes. Tools like online booking/scheduling, payment processors, ADA compliance regulators, and CRM communication will decrease user frustration and increase conversion. Find a company, like Big Red Jelly, that will offer suggestions and expertise on tools that are necessary for your industry to stand out and out-sell your competitors.

Q: I want to learn more about what you can do for my business. How can I contact you?

We want to see businesses succeed. Navigating the digital world can be difficult, but we build a digital foundation that keeps businesses stable and able to see exponential growth. Reach out to us on social media (Facebook & Instagram), send us an email at info@bigredjelly.com, call us at 435-631-9968, or schedule a complimentary consultation with our experts by visiting https://bigredjelly.com/free-growth-strategy/.