Multiply Your B2B Sales Leads With Complementary Partner Referrals

A survey by Booz-Allen & Hamilton revealed that more than 20% of revenue generated from the top 2,000 U.S. and European companies was through strategic alliances. CEO’s reported that would rely 60% on strategic partner alliances to increase their market share. It is also evident that referrals generated superior leads than other lead generation activities. The best practices to multiply you B2B sales leads would include-

1. Build strategic partnerships

By building strategic partnerships, implied trust and broad project engagement with these partners can greatly boost your sales leads in no time. A strategic alliance is where both the businesses share their contacts, industry information and prospects, especially to the partner who is non-competitive. The alliance works together to achieve what cannot be achieve alone. The perfect example of a strategic alliance could be of a realtor, a mortgage broker and a lawyer. Each has a common customer, homebuyers, but each provides different services.

2. Match the objectives

Narrowing it down further, seek partners that are a good fit for your business. Their mission, vision, organizational values, their credibility in the market, their established standards, and practices would help you to understand them better for prospective leads. Building an internal team to focus on these channel partners can definitely bring out the desired results.

3. Run the initiatives

When you have selected your best partners, engage with them through various activities. Simple initiative such as joint marketing campaigns, partnered events and conferences can boost your sales substantially. A strong partnership and a defined objective can help achieve the goals of the initiatives. Exhibitions and trade shows are the common examples of strategic alliances.

This source of lead generation not only reduces the length of sales cycle but also expands customer’s support network without exorbitant expenditure. The various types of strategic alliances includes joint venture, equity strategic alliance, non-equity strategic alliance, global strategic alliance, vertical alliance, horizontal alliance and more to name a few. A famous quote by Henry Ford “Coming together is a beginning; keeping together is progress; working together is success” perfectly describes the idea of a strategic alliance.

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