More and more competition in marketplace is making it necessary for companies to find creative ways to connect with customers and prospects, to enhance brand identity and attract top-notch employees. In order to enhance competitiveness in today’s marketplace, more and more companies are forming strategic alliances. Strategic alliances can maximize your position in marketplace. When you learn how to leverage partnerships you increase your market share. It is also a very smart way to grow a small business. Cross promoting with other businesses can give you a significant advantage over competition with many benefits and cost savings.

A strategic alliance is based on an arrangement between two companies to combine resource that will help both gain a greater share of market. They are often formed when one business alone is unable to fill gap in serving needs of marketplace. Forming strategic alliances can save time and boost productivity. It enables companies to be more efficient and concentrate on core strengths in developing their products and services. These alliances can be formal (partnership agreement is put in writing) or informal (a handshake is all that is necessary to “seal deal”).

There are several ways you can collaborate with another business or individual to increase revenue, traffic, and even expertise to your business which ultimately will increase value to end-user (customer). Note: you can read more details about strategic alliances in new book Self-Marketing Manual (release date, October 15th). Send an email to Heidi@self-marketingnews.com with Manual in subject line and you will receive a pre-publication order form.

Find Right Partners

Collaborate with a well-known company - Most small businesses benefit from partnerships that add value, prestige and greater credibility to their own endeavors. Associating with a well-known business can give your company instant credibility and exposure. It’s not always about bottom line.

Collaborate with Your Best Customers – Look at company or companies who do most business with yours. Work with them to solidify relationship by offering them more than just good products and service. Make it nearly impossible for them to consider going anywhere else. Continually asking them why they do business with you and why they stay are best ways to keep them.

Collaborate with Nonprofit Community – Joining forces with nonprofits can increase your circle of influence and your visibility in community. For more ideas on cause-related marketing, send a message to Heidi@self-marketingnews.com with “cause-related marketing in subject line.

Your Fans are those who do business with you, but would not think about referring your services on their own. They need a little encouragement. Ask them if they know of anyone else who is having an event that could use your service. Tell them you would like to contact those people to offer your services to them. Most of time they are happy to help you out. They just wouldn’t think of it themselves.

· Send greeting cards for all special events listed on information cards previously filled out by attendees. Retailers might want to include a note for recipient to stop by for 25-cent tour and a small gift.

· Send postcards a few weeks before each holiday or event listed offering a free consultation on other services you provide, discounts on purchases, or some other promotional item. It is important to keep you at “top of their mind” when they might be planning another event or know someone who is.

· Fax or mail ideas for events two or three months prior to their corporate, or milestone events. Offer a special consultation rate to help them plan a successful event.