Every partnership is unique in terms of team members, products, and goals. Learn how you can effectively structure your co-selling partnership.
How Partnership Sales Boost your Business
Engaging in strategic partnership sales is a powerful lifeline for all organisations. Learn how to unlock the full potential of partnership sales.
Building a startup is an undoubtedly overwhelming undertaking. Often times, you may feel like a man overboard struggling to stay afloat while the boat merrily sails on without you. Would you rather endlessly tread water or get tossed a life preserver? Engaging in strategic partnership sales is a powerful lifeline for companies of all shapes and sizes, especially startups. Read on to unlock the full potential of partnership sales in regards to your burgeoning business.
What are Partnership Sales?
Businesses, above all else, require income to thrive. Therefore, sales are an extremely vital element to any successful business. In the startup environment, sales are especially important. However, effective sales teams and advertising strategies are an expensive luxury some companies can ill afford. This is the part where Captain Partnership Sales bursts through the window in a cape to save the day.
When a company engages in partnership sales, they funnel their sales through another company's already established sales team. These relationships are symbiotic, creating a mutually beneficial environment for both the channel partners. The best partnerships come from companies that share products of service that work well in tandem.
Partnership Sales Example
To further illustrate the aforementioned sales model, please enjoy this tasty culinary example. Let's say there is a booming salsa business with 30 years of experience and a proven track record. You are a fellow food entrepreneur that wants to make your grandma's tortilla chips available for the world to enjoy. You have an established product to market fit and a delicious product to boot. However, you are struggling to make bigger, more consistent sales.
By strategically partnering with the salsa company, you can boost your sales and provide consumers with the delicious marriage of chips and salsa. Your tortilla chips will be sold in tandem with the salsa, to their established customer base using their proven sales methods. This saves you the exorbitant expense of hiring a marketing team and kick-starts your revenue stream and customer base.
In the meantime, the salsa company is bringing even more value to their beloved customers. Furthermore, the salsa company benefits from taking a small commission from your sales. This is what we like to call a win-win situation.
How to Find the Perfect Channel Partner
Clearly, the benefits of partnership sales are vast. However, the key to a successful partnership is finding the ideal channel partner. Some things to look for:
Alignment of products or services
Measurable growth opportunities for all companies involved
An established consumer or client base that matches your companies vision
Networking is the age-old method of finding these coveted partnerships. Now, with CoSell, it is easier than ever to find your perfect partnership match. Our unique system flawlessly matches companies with the aforementioned crossover. From there, you can set meetings, curate connections, and make lasting partnerships.
Strategically crafted partnership sales can work wonders for all involved parties. Contact us at CoSell today to take the first step towards growing your business through partnership opportunities.
If you’d like to explore how partnership co-selling can help you and your team boost sales and win major clients fast - check out our selection of free eBooks.