Strategic partnerships can help your company expand to new markets and increase your sales. But how do you identify the ideal international digital advertising sales partner? Some key elements include: defining and validating the new market you want to pursue, developing a selection criteria including existing relationships with local agencies and brands, identifying potential candidates, and finally, articulating also what you have to offer to the commercial partnership.
Forming a strategic partnership with the right company serves to accentuate your business in a multitude of ways. It earns you access to a whole pool of new markets to get into, while growing your client base and revenues.
How do you evaluate potential candidates when selecting an international digital advertising sales partner? Let’s dig in.
First You Must Look Inwards
Before you consider what a prospective candidate could offer you, you must first identify what you have to offer. What kind of services do you supply, and to whom? Which market do you most appeal to? Are you a marketing brand that focuses on a certain niche, or are you more comprehensive? Forming your own unique business profile will enable you to sell yourself to the best candidates – it’s like dating, but for business. From here, you can identify the target markets you’d like to engage in. Forming an alliance with the right partner will encourage you to each bring the best out of each other, enabling your ambition to encompass a broader target market. Of course, it might also take kissing a few frogs along the way.
What Could You Bring To A Commercial Partnership?
You then need to identify what business ambitions could be accomplished through an international partnership. Is there a timeline you have forecasted for certain goal achievements? How and which kind of commercial partner could become your secret weapon for staying on track, or even exceeding these goals? For example, as a young, keen tech start-up, you may be on the lookout for a company-sized mentor to teach you the ropes and the tricks of the trade. You will reciprocate with offering fresh, current industry knowledge to keep them on their toes.
Evaluate The Criteria For Your Perfect International Partner
When you’re venturing across untrodden terrain, you need a map. The map, in this context, is your refined understanding of what the ideal partnership candidate embodies. The ultimate goal when formulating a business alliance is to gain authority within your respective market. What kind of impact could a particular candidate inject to aid you in succeeding your competitors?
Define your company values. While common ground forms a harmonious space in which to blossom, conflicting views and opinions will delay, or even prevent, growth. Ideally, you want to build a relationship with a commercial partner with consistent ideals to yourself. Do you share similar attitudes in the realm of trustworthiness? How do they approach the customer experience? Consider the degree of compatibility and consistency as part of your partnership criteria.
Create A Target List
Once you have fine-tuned your company profile and identified a yardstick for the ideal partnership candidate, it’s time to build a list of target prospects. Preparation is key, so don’t be tempted to blindly hit up various contacts on a whim without building a fantastic strategy for achieving the best first impression. Learn everything you can about them before you reach out. Harness your connections in the industry to gain access to the right contacts – go straight to the decision-maker. Also, consider your current contacts/partner prospects – are there ways in which to grow with more familiar faces?
Then, with a plan set, make the calls. Intrigue them with your values and brand personality, fascinate them with your plan for a combined fruitful future, wow them into your proposition. For each prospect, tailor a synopsis of what your united value would represent to your customers and clients. Be clear, concise, informative and inspiring! Fulfil the necessary follow-up calls once a few days have passed to see if you nailed your target.
When You Have Locked In A Partner
The future starts to look ever brighter, with business goals well within your grasp. Collaborating with your new international digital advertising sales partner will represent an exciting learning journey, provided you are each delivering your best. The work has only just begun; while adventure awaits, you must be prepared for more strategic decision making that satisfies both parties. Relationships take effort, and certain challenges lie in the pipeline, and you must be ready to strive together to conquer them.
If you are ready to grow your digital business to the next level, Get In Touch