A Great Marketing Model ? Utilizing the Power of OPM
Staying ahead of the marketing curve seems to be a never-ending quest. Marketing doesn't have to be as complex as some people make it out to be. It's simply a matter of understanding who you are marketing to ? your ideal customers ? and then coming up with a system that keeps your name in front of them. A huge part of the system is creating enough value for your customers that they want to hear from you.
Another aspect of marketing is knowing how to continually reach and increase your market in the most cost effective manner possible. One way to increase reach and do so cost effectively is to find other businesses who share a similar market. These can be complimentary businesses and even competitors. What better way to get your foot in the door of a new market than with the endorsement that comes from a joint venture?
Solo marketing efforts are no longer as effective as they were in the past. True strength lies in utilizing the power of joint ventures. It is probably one of the most compelling marketing strategies you can implement. With so many people competing in any given industry, an appropriate joint venture can stretch your marketing dollars and increase your market reach. And do so in a way that people want to do business with you. That is the power of utilizing OPM ? Other People's Markets.
Most people refer to OPM as being Other People's Money. In reality, when you have been given permission by a person or an organization to reach their market, you are in essence using their money. However, this is also a give and take relationship. If you are using their market, you have to be willing to let them use yours.
Over the years I have been involved in numerous partnerships. Some were short term and one time projects, others very long term. I wish I could say that every venture I have been involved with has been successful and without incident, but that is not the case. However, with each situation, whether good or bad, I learned a valuable lesson that I have been able to apply to current and future opportunities.
Consider some key factors before establishing a partnership. First of all, what is the reputation of the person or company you are developing this relationship with? It is important to know that the people you are connecting your name with are reputable, have similar values when it comes to the way they view business, and they treat employees and customers with the kind of respect you would expect. If you have an established customer base that trusts you and you then partner with another company, you are in essence saying, "Do business with this company. I give you my word, they are reputable."
Additionally, is it an equitable relationship? Before making any commitments, determine what the benefit is for each party. What does each company bring to the table that will create a successful partnership? Are you creating a win/win relationship for all parties involved?
Be sure to test the waters. Do not make the mistake of blindly partnering with another company only to find out that the two companies are incompatible. Start with a small project rather than going in for a long-term commitment right away.
After finding a company you want to partner with, I highly recommend putting everything in writing. A written agreement will help both parties to become clear on how their partnership will work. In many cases, you will want an attorney to review the information and even draw up an agreement. Be sure to utilize the services of someone who has everyone's best interest in mind. When drawing up a written agreement, take into consideration the following: individual and joint roles, how new leads will be handled, and how expenses and revenues will be shared.
Think of your company vision. Who do you know that you could help to create a win/win relationship with? When you are clear on whom you can partner with you will be amazed at what can happen for you, your partners and most importantly, your customers and clients.
Copyright & copy; 2004 by Kathleen Gage
Publishing Guidelines: You may publish my article in your newsletter, on your web site, or in your print publication provided you include the resource box at the end. Notification would be appreciated but is not required.
About The Author
Kathleen Gage is a business advisor, keynote speaker and trainer who helps others gain marketing dominance and visibility within their market. She is the recipient of the 2004 Giant Step Award for Business of the Year in the State of Utah. Kathleen is currently co-authoring two books utilizing the power of OPM. Call 801.619.1514 or email Kathleen@turningpointpresents.com. Get Gage's online newsletter called Street Smarts Marketing and Promotions by visiting www.kathleengage.com.
kathleen@turningpointpresents.com
 Google News Updated : Sat, 11 Oct 2008 05:49:35 GMT Democrats Are Gaining, Registration Data Shows - New York Times
New York Times - By NICHOLAS CONFESSORE and GRIFF PALMER Some longtime Republican strongholds in New York are becoming increasingly Democratic, a striking change driven by demographic shifts, intense voter registration drives by Democrats and allied groups and sagging ... Campus registration drives in full swing Ott, Hook face off for open county office Publ.Date : Sat, 11 Oct 2008 03:20:33 GMT G-7 Commit to `All Necessary Steps' to Stem Global Meltdown - Bloomberg
Bloomberg - By Simon Kennedy Oct. 11 (Bloomberg) -- Group of Seven finance chiefs, meeting after stocks plunged and as a global recession looms, vowed to prevent the failure of vital banks while failing to unveil new initiatives for thawing credit markets. Group of 7 Nations Seek Coordination in Rescue In latest bold step, Treasury will buy bank stakes Publ.Date : Sat, 11 Oct 2008 04:03:42 GMT Bush: US authority able to solve financial crisis - People's Daily Online
People's Daily Online - US President George W. Bush arrives in the Rose Garden at the White House to makes a statement on the economy in Washington, October 10, 2008. President Bush vows action on financial crisis Bush's Lullaby to the Markets Publ.Date : Sat, 11 Oct 2008 04:12:49 GMT US Near Changing Stance on North Korea as Terrorist - Wall Street Journal
Wall Street Journal - By JAY SOLOMON WASHINGTON -- The Bush administration is hoping to announce as soon as Saturday that it is tentatively removing North Korea from its list of state sponsors of terrorism, in a bid to kick-start a stalled nuclear disarmament agreement, ... AP: US to remove North Korea from terror blacklist US May Remove North Korea From Terrorism List, AP Reports Publ.Date : Sat, 11 Oct 2008 04:02:40 GMT Genomics project unites four Wisconsin research institutions - Milwaukee Journal Sentinel Milwaukee Journal Sentinel - By KATHLEEN GALLAGHER Wisconsin’s four biggest academic research institutions will collaborate on an initiative aimed at giving the state national stature in the fast-emerging field of individualized medicine, Gov. Marshfield Clinic gets biggest donation yet Wis. governor unveils gene research triangle Publ.Date : Sat, 11 Oct 2008 05:29:44 GMT McCain Lauds and Attacks Obama in Same Day - New York Times
New York Times - Senator John McCain of Arizona and his supporters at a rally on Friday in La Crosse, Wis. By ELISABETH BUMILLER LAKEVILLE, Minn. - After a week of trying to portray Senator Barack Obama as a friend of terrorists who would drive the country into ... McCain Moves to Soften the Tone at Rallies John McCain, speaking to supporters, tries to defuse an anti ... Publ.Date : Sat, 11 Oct 2008 05:08:14 GMT Paulson Indicates Need to Purchase Bank Equity `Soon as We Can' - Bloomberg
Bloomberg - By John Brinsley and Rebecca Christie Oct. 11 (Bloomberg) -- US Treasury Secretary Henry Paulson indicated that pumping government funds into banks is a priority and said financial markets will remain volatile. US planning to buy equity in financial institutions Treasury Weighs Investing In Banks Publ.Date : Sat, 11 Oct 2008 04:21:05 GMT Website Traffic Promotion |
PARLOT::Ebooks, Scripts,
Websites, and more... Simply put the marketing people and the sales people depend... Read More One of the most common issues I'm asked about is... Read More IntroWant me to tell you something on how you can... Read More Most professional copywriters would say that headlines account for 80%... Read More We all work hard to attract even one paying client.... Read More Networking on the Internet is the same as networking in... Read More There are many ways to reach out and find the... Read More Whether you're a contractor a local merchant with 150 employees,... Read More Corporate marketing groups - especially bandwidth-challenged small-to-mid-sized departments - can... Read More Writing an effective print ad, particularly a classified advertisement, requires... Read More The Pitchers: SalesLet's say you have a new baseball team... Read More Virtual trade shows are gaining momentum as a way to... Read More There are a great many online business people who are... Read More Want a simple, low-cost way to boost your sales? Just... Read More Is your business publishing a print or e-newsletter? An informative... Read More Generation X"--the 40 million or so people born between 1965... Read More The distance between marketing consultants and the real world can... Read More Several years ago, "networking" was the hot buzzword. Everyone was... Read More Marketing your cleaning business is something that you will already... Read More In direct mail, the offer is the incentive or reward... Read More Can we imagine a place in the world today without... Read More It's a fact that your customers are your best leads.... Read More For many small business managers, finding the time and commitment... Read More Can we actually learn a marketing lesson from reality TV?... Read More If I were to ask you right now, what marketing... Read More
Adsense
websites
Sales and Marketing: Can One Exist Without the Other?
Attract More Clients by Raising Your Profile
Motivate Your Market Force
Your Headlines Are Key To Your Success Or Failure. Do You Know What To Write?
Five Mistakes Absolutely Guaranteed to Drive Away Your Best Clients
Networking, iNetworking, What Is The First Rule?
5 Great Ways to Reach Your Target Market
Two Methods of Marketing Using Joint Ventures
Seven Common Marketing Problems Solved by Marketing Operations
5 Print Ad Essentials!
Teaming Up Marketing and Sales
Build your Trade Show - Virtually
The Forgotten Market
Uncover Your Hidden Markets
Newsletters are Marketing Machines!
Why Market to Generation X?
Marketers VS Consumers Predators VS Prey
Making Networking Work
7 Proven Tips To Market Your Cleaning Business
Business to Business Direct Mail Sales Letters Need an Offer (and Heres Why)
Service Marketing - A Relationship Building Approach
Direct Mail Postcard Rules
Business Marketing Strategies
Marketing Lessons From TV?s The Apprentice
The 5 Minute Marketing Plan
Affordable and Reliable Web Hosting Starting at $4.49/Month
2 Step Marketing
Do it Right.I receive postcards all the time. The other... Read More
Blowing Your Own Horn
Opportunity Assistance Business Resource Center http://www.opportunityassistance.comAt first you... Read More
Four Simple Ways to Cut Your Trade Show Marketing Budget in Half
Many times when a trade show is planned for there... Read More
Defining Moment
Do you know your audiences? I mean really know... Read More
Send Postcards To Save Money and Cut Through E-mail Clutter
Use your computer to send personalized color postcards in quantities... Read More
What Is Better Than FREE?
Oh come on! FREE is free. Zero, zip, nada, zilch.... Read More
4 Dynamic Marketing Tactics
Some of the simplest marketing tactics often produce the most... Read More
The Biggest Problem With Your Marketing Is...?
What is the biggest problem most marketers have? Who knows.... Read More
Direct Mail Marketing Done Correctly, Cannot Fail
So how do you do it?Direct mail marketing. When it... Read More
Why Referral Business Is So Valuable
With so much money invested on innefective advertising, it's time... Read More
5 Great Ways to Reach Your Target Market
There are many ways to reach out and find the... Read More
Take It To The Customer
In the past, purchasing ad space was the solution to... Read More
Business Marketing For Consultants, Coaches, Speakers, and Trainers: How To Be Noticed and Trusted
Business marketing is essential for professional services, such as consultants,... Read More
How to Really Get Your Customers
What Really Makes Your Postcard Mailing Successful? The biggest single... Read More
Direct Marketing: Overlooked, Underappreciated, and Unstoppable
Every business needs customers, but more importantly every business needs... Read More
Marketing On The Cheap: Join The What?
Your local Chamber of Commerce.Now before you stop reading, I... Read More
Marketing Discipline and the Joy of Success
Discipline Is Important.I recently read an article about why discipline... Read More
Marketing Hesitation Costs Dearly
Timing is everything. Hate to be late? The early bird... Read More
Free Sample Sales Letter: Example of How to Write a Persuasive Business Marketing Letter
Here is an example of a business-to-business sales letter mailed... Read More
Beyond Repair: The Fixed-price Model
Don't get me wrong. I certainly don't think the majority... Read More
Assumption Based Marketing Vs. Fact Based Marketing
One of the most common mistakes in marketing is making... Read More
How to Turn Your Marketing Into a Money-Making Machine - Preparing for Marketing That Yields Results
The usual complaint from companies is that Marketing simply does... Read More
Design Does Matter
The idea that good design can improve how people perceive... Read More
Heres A Robust, Turnkey, Interactive. Best of Breed, Mission-Critical Solution to Kill Buzzwords
Fellow Publicity Insiders, what does... Read More
The Battle of Positioning -- Altruism or Paranoia?
Competition in the past has embodied such beliefs of "kill... Read More
Marketing |