Establish new strategic alliances and business partnerships.
Distribution channels are key for fast access to a market, especially if the reputation of your company is not yet established. If you are able to establish strategic partnerships with prominent players in your industry, you will accelerate this process.
In fact, reaching your target market for certain industries is not a question of intensive marketing campaigns, but more a factor of how many strategic alliances and industry partnerships you manage to develop. To enter a particular international market, you need to invest in international business development, which includes setting sales channels.
Business development activity is complementary to marketing campaigns. Let’s look closely at the definition of these terms:
To launch and establish a collaborative relationship between independent entities, you must perform the following steps:
Here you determine your best matches/collaborators based on your strategic goals. You collect data and systematically verify that your strategic partnerships or potential distribution channels have what it takes to increase your sales.
At this point, you have developed a legally binding document that clearly outlines the nature of the relationship, as well as the expectations and commitments of the entities involved.
In the final step, you ensure that top management is committed to the collaborative process by allocating the appropriate budget and resources, as well as measuring performance results of the process.
When a new industry partnership is formed, you can expect the following advantages:
“Direct Objective quickly established important industry alliances that were essential to our company’s success, with their business development strategy, practical advice, and hands-on approach.”Maggy Apollon, Former CEO, Edo Traveler Suites (Now President at Maggy Apollon Achitecte)