24KT Marketing: Affiliates & Partners
February 19th, 2008
WORD COUNT: 315 Tiny … Yet 24KT Words
TIME to GROW: * About 1 1/2 MINUTES*
If you’ve been a subscriber for a while, you know that 24KT Marketing® is:
* Guided by What Makes You Unique
* On Target with Your Ideal Customers
* Lined Up with the Best Route Possible
* Draws on Your Unique Gifts, Talents & Resources!
What 24KT strategies are you using to build your business?
When you share a compelling message about your unique gifts, and then market your services using your specific talents and resources, you’ve got a winning combination.
Of course, you’ll also want to be certain you’re reaching your ideal customers … and one way you can do that, is through affiliate programs and strategic partnerships.
An affiliate program is a profit sharing opportunity that helps you build awareness of your services, by paying a commission for referrals that become sales. This is a good method to consider if you have a relationship with a larger business, association or community that also serves your ideal customers.
Your affiliates win because they can help their customers by passing along a referral and gain another revenue stream. Your customers win because everyone recognizes the value of a recommendation. It takes the risk out of doing business with someone new. You benefit because you gain new customers and only pay a commission when a referral results in a sale. So this approach works best on products and services with higher margins and prices points.
A strategic partnership is a similar arrangement, but both companies trade referrals. Both parties serve the same market, but offer complimentary products and services. So in this case, you’re not necessarily paying referral fees, because you both have an opportunity to share equally.
Strategic partnerships can eventually lead to joint ventures, which can take you and your partners off into new and exiting territory. Look for more information about joint ventures in next Tuesday’s “Daily Discovery Edition: on 24KT Marketing®.
Until next time, let your light shine!
Copyright© Laura Cardone 2008. All Rights Reserved. This is a Daily Discovery Series edition. http://www.profitswithpurpose.com is for business owners and professionals who are passionate about creating a successful business, AND a fulfilling and balanced life.
