Supercharging your Marketing Strategies with Partnerships and Referrals

Businessman wearing cape with arm in air.

If you have built up a positive brand reputation for your professional services firm, partnership marketing and referral source marketing are two tactics you should consider making a part of your overall marketing strategy. When two brands come together for their mutual benefit, the results can be quite impressive and create new opportunities to reach prospective clients or members.

Partnership Marketing

Partnership marketing is simply when two brands collaborate on a marketing campaign. Some of the most common ways we are seeing this accomplished within professional service firms and associations is through co-hosted webinars, newsletter shout-outs and creating co-branded content such as whitepapers.

As you consider who to partner with, be strategic and make sure that there is a mutual benefit. Maybe you have a larger client list but the other partner has a magnetic and trusting personality that makes webinars fun. Or perhaps you have more expertise in an area and your marketing partner has a very engaged audience. Even if your partnership marketing efforts are a bit lopsided, that’s entirely okay. Sometimes it is worth it in order to forge the relationship and create loyalty.

The benefits of partnership marketing are many and include increased brand awareness through exposure beyond your primary audience, new contacts for your nurturing campaigns and lead generation. It is also an association and professional services marketing strategy that is low risk. You can dip your toes into the waters of partnership marketing to see what resonates with your target audience and quickly adjust your strategies with minimal investment or cost up front.

READ: Marketing to Real People in a Digital World

Referral Source Marketing

When we talk to our clients, we often find that they are neglecting their referral sources in their networking and marketing efforts. If you are not optimizing this source of business development, you may be missing out on some great prospective clients or members.

Whether you are just building your referral marketing strategies or need a refresher in how to implement it, here are a few tips to boost your efforts in this area.

First, identify referral sources that could send business your way. For CPA firms, this may include attorneys or financial advisors. For an association, this could be a nonprofit with a similar mission that complements yours. Make sure they understand what you do and what your ideal prospect looks like.

Next connect regularly with your referral sources. Create a schedule so that you are routinely calling or emailing them just to connect. The goal is to stay top-of-mind so they refer you when the opportunities arise.

Finally, when you receive referrals you appreciate, pick up the phone and let them know. Once you’ve done that, take it a step further and do something nice for them. You could send a referral their way, give them a recommendation or review or make another type of introduction that would be helpful to their business. Go out of your way to send the message that you appreciate their support in your success by contributing to theirs.

WATCH:How to Get More Referrals

Implementing partnership and referral source marketing into your strategies can help you build your brand awareness and connect with new potential clients or members. Give it a try and see what works for your professional service firm or association.

You may also be interested in how you can boost your virtual business development efforts to bridge the gap with lost face-to-face networking and tradeshow opportunities.