Strategic partnerships can provide valuable wins for organizations that need assistance with their processes. As just one example, research has found that deals are 53% more likely to close (and close 46% faster) with the help of a partner.
Of course, it is essential that businesses find the right strategic partners to work with. And if you’re looking to position yourself as a valuable strategic partner within your industry, this requires that you figure out how to market yourself appropriately.
After all, if no one is willing to take a chance on you as a strategic partner in the first place, you’ll have a hard time proving your value within your industry. By positioning yourself in the right ways, you can make a strong first impression on businesses looking for partners in your area of expertise.
1. Demonstrate Your Deep Understanding Of The Market
If you want to be an attractive strategic partner, you must have a deep understanding of the market you are trying to serve. Demonstrating your market understanding helps you better define and showcase your unique value proposition, whether that be specialized niche expertise or access to a new market.
You don’t have to wait until you’re on a call with a prospective partner to demonstrate your market knowledge. Content creation remains a viable option for showcasing your expertise. Webinars, blog posts and even white papers with original research can all be useful solutions to build your personal brand and show that you truly know what you’re talking about.
2. Actively Network
Networking, both online and in-person, is one of the most valuable ways to find potential clients and present yourself in a positive light. Research indicates that network searches help individuals find jobs at a faster rate, while also producing higher-quality job offers. This doesn’t just apply to individual job searches — it can be equally applicable as you try to build your brand as a strategic partner.
This became especially apparent during a recent conversation with Lucy Chatterjee, founder and CEO of Imperial Exhibits. She explained, “People like working with people they like. There are so many companies offering the same products and services that oftentimes, what defines who wins the contract is how well the founder is liked. Developing a mentality where you are actively striving to build genuine connections with people and understand their cultures and values will help you stand out in a positive way within your niche. Don’t just try to make a sales pitch. Focus on building relationships and the results will follow.”
3. Feature Success Stories (When You Have Them)
According to research from Wisernotify, 92.4% of B2B buyers read online testimonials and reviews as part of their decision-making process. Unsurprisingly, adding positive testimonials to sales pages on a B2B website can increase conversion rates by an average of 34%.
Because of this, few things can be more valuable than highlighting your client success stories. Even if you only have a few clients, sharing their testimonials can help build social proof of your contributions as a strategic partner. If you are able to develop a case study with more detailed statistics and outcomes, this can be even more persuasive to other prospective partners.
4. Emphasize Collaboration
As Chatterjee explains, “You should never go into a strategic partnership just thinking about profit. When you consider how you can add value for your clients and become obsessed with their success, your mindset changes. You shift your focus from profits to finding collaborative solutions that will help the client achieve their goals. When you adopt this mindset, your relationships with clients will become that much stronger, and the rewards you seek will naturally follow.”
With this in mind, one of the best ways to position yourself well as a strategic partner is to focus on what will provide the greatest value for the client. Rather than trying to present a one-size-fits-all solution, take the time to truly understand their goals and needs, and then collaborate to determine which actions would turn those goals into reality. This helps demonstrate your expertise while also building a solid foundation of trust that will serve you well throughout the relationship.
5. Be Consistent
There are several factors that contribute to a successful strategic partnership, but few are more valuable for your long-term success than being consistent. You may have a compatible culture, complementary skills and shared values, but if you aren’t consistent, then your partnerships will fail, and your reputation will suffer.
The key to being consistent isn’t complex: follow through on your promises. Whether it is with a current partner or a prospect, being consistent in how you communicate, deliver work and demonstrate accountability will establish the trust needed for your partnerships to stand the test of time. When you are consistent, you will be able to access new partnerships through word of mouth as your current partners spread the word. Simply proving to be reliable will prevent disagreements, trust issues and other common pitfalls of failed partnerships.
Become The Best Partner Possible
Finding success in positioning yourself as an attractive strategic partner will likely require some typical paid marketing tactics to build awareness and get the word out. But more important than building awareness for your brand is demonstrating that you are a partner who understands and cares about the needs of your industry.
As you consistently demonstrate your understanding of the market, network in a positive manner and showcase your collaborative mindset, you will build a positive reputation that enables you to become the partner of choice for many in your niche.