The Power of Partnerships: the key to increasing Sales, Margins, & Profits

The Power of Partnerships: the key to Increasing Sales, Margins, & Profits
By Denise Trifiletti

Partnerships can be the key to increasing your sales revenues, margins and profits and are the best way for you to GROW your business exponentially. Why? Because partnerships increase your:

Qualified leads and word-of-mouth referrals
Credibility and effectiveness
Differentiation and competitive edge
Close ratio and margins

Let’s explore the subject by thinking about these questions:

How do you feel about having referral partners and growing by word-of-mouth?
How many business partners do you currently have?
How many more would you like?
How effective are they?
How many qualified referrals do you receive and how often?
How do you feel about requesting and receiving revenues or other remuneration for the referrals you provide (if you are able to in your profession)?
What is the value of the time and energy you took to build your network of strategic referral partners?

How Partnerships increase leads and referrals:

Imagine yourself as a consultative salesperson, with a large network of strategic referral partners who offer various quality products and services. Sitting with a client or prospect, you ask questions that unveil your prospects’ many needs, perhaps even outside your product/service capabilities. You introduce your strategic partners to your prospects, who may be able to meet their needs. Thus, you gain a satisfied client who tells others and refers you more business – and may also provide you with a testimonial. And, in recognition of your efforts, you receive referral fees or other remuneration from your partners. It’s a win-win deal. Meanwhile, your strategic referral partners are referring you to other companies where you can do business. How much business can you handle?

How Partnerships increase Credibility and Effectiveness:

Armed with a host of quality solutions, you are confident in asking questions about a wide range of client/prospect needs. You are not ‘pushing’ a single product, but rather, you are focused on solving their problems by asking. And, asking questions is the key to sales effectiveness. You can be consultative and help them discover their challenges. You can help them explore the value of the options you provide and help them decide on their best solutions. By doing so you are more credible, trustworthy and effective.

How Partnerships Increase your Competitive Edge:

Unlike the competition, you provide a value-added service, i.e., a host of solutions through your referral network. You, unlike others, are a one-stop-shop, a resource to save your prospects time and money.

How Partnerships Increase your Close Ratio, Sales Revenues and Margins:

Through your “Power Partners™” you will close more business. By asking you will learn the value of your solutions, and can employ value-based pricing. You need not lower your prices and may even be able to charge more.

Are partnerships the key to growing your profits and your business exponentially? You decide!

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