In a competitive market economy, it is not possible for any entrepreneur of small business enterprise to handle and manage every aspect of the enterprise’s business to gain the competitive edge over his/her competitors and broaden the enterprise’s customer base. An ideal way to overcome this handicap is to enter into a strategic business partnership agreement with a strategic partner. A strategic business partner is an entrepreneur of another small business or a corporate enterprise who enters into a legally binding contract with other similar entrepreneurs to assist them in enhancing their competitive edge in the market or to gain greater market penetration.
Anura Perera, a renowned strategic business partnership specialist emphasizes most entrepreneurs opt to enter an agreement with individual or corporate enterprises who have expertise in the field of marketing. Effective selling and marketing are both essential elements that contribute to the success of a business enterprise in a competitive market. In the absence of an effective selling and marketing strategy, the customers will never come to know about the business enterprise’s products and services. However, it is imperative for entrepreneurs to adopt the appropriate selling and marketing strategy or else it will do the business enterprise more harm than good especially when the advertising costs exceed the gross margin from such advertisement.
This prominent strategic business partnership expert at the Anura Perera Cranfield office premises further explains entering into agreements with strategic marketing partners goes a long way helping the entrepreneur to expand his/her business by increase the enterprise’s customer base in the market at a nominal cost. Some of the effective selling and marketing strategies that entrepreneurs along with their strategic marketing partners adopt are:
- Identify the decision maker: Regardless of what type of industry, the entrepreneur’s business enterprise is operating in, it is essential for the entrepreneur to know the decision maker in order to close a sales deal. In this endeavor, a strategic marketing partner can assist the entrepreneur customize the entrepreneur’s sale pitch to the clients’ interest.
- Be real: In any business deal, clients can easily sense whether an entrepreneur of a small business enterprise is being genuine while selling his /her products and services. Moreover, sales deals that strategic business partnerships undertake are no exception and it is important for the entrepreneur and his strategic marketing partner to convey the message that care about the client’s interests and not just the business deal.
- Overcoming objection: In any sales deal, it is essential for the entrepreneur and his strategic marketing partner to address and prevail over any potential objections that the clients may raise during the sales deal.
- Know your competition: It is imperative for the entrepreneur and his/her strategic marketing partner can help him/her to identify the areas where the business enterprise is ahead of its competitors in the market to close an effective sales deal. For this, it is essential for the entrepreneur along with his/her strategic marketing partner to do the necessary market research to ensure that the business enterprise is doing something that its competitors are not.
Anura Perera emphasizes that effective sales and marketing strategies are essential for the growth of the business enterprise and a strategic marketing partner helps an entrepreneur achieve this objective. You may visit the Anura Perera Cranfield office to meet him personally for more tips!