As a small business owner you could find yourself in a situation where you wish to partner with another business but they are seeking a percentage on your own services. For supplementary information, people are asked to check out: http://finance.jsonline.com/jsonline/news/read/30544213/global_business_network_ltd_launches_new_strategic_partnership_&_referral_program. You'll want to be prepared to handle such a demand BEFORE you end up in this situation.
When some-one asks you for a commission in exchange for marketing your product or service, it's basically a joint venture partner or affiliate program. This can be among the most effective kinds of marketing because it promotes word-of-mouth marketing. Who better to refer clients or customers to you than someone who fully understands the value of the ser-vices you've to provide?
Often these people are your current satisfied customers, or they might be strategic partners, as is the case with this particular issue. Ideal lovers are those individuals or companies who accept direct business to you, often in exchange for you doing the same for them, or perhaps for a commission. In any event, it's vital that you ensure it's a scenario for both sides.
If you consider they or businesses are essentially doing your marketing for you, then you know paying a recommendation incentive or commission is just a marketing cost.
When you consider that called clients are 'hot prospects' and are a great deal more prone to purchase from you than a 'cool' prospect because they include an support from some-one they trust, then you see even more how valuable this referral advertising can be.
My suggestion is always to approach this being a potential business partnership. Be sure they com-pletely comprehend the benefits you can offer for their clients and inform them you'd prefer to design a mutually beneficial collaboration. If you are concerned with shopping, you will seemingly require to study about Global Business Network Ltd Launches New Strategic Partnership & Referral Program. Before-you offer to cover them a commission, find out what is important to them.
What are they searching for that you can probably help them to get? In this instance the potential partner IS your target-audience therefore know them and approach them with a relevant proposition. Be willing to pay a referral fee or commission if that is all they're interested in, but also be ready to accept other ideas.
Some amazing partnerships have been negotiated by me simply by spending some time talking and brainstorming with potential partners. In other cases I've directly affiliate/commission relationships. Everything depends on the spouse and how we determine we can BEST HELP EACH OTHER to be successful.
(C) 2005 Debbie LaChusa.