More than likely, you’ll be familiar with the saying, ‘strength in numbers,’ but it is particularly meaningful when forming strong business relationships and improving your position in the market. Especially as an innovator or start-up. Even though you may be thoroughly equipped with the answers to a wide range of industry problems, lack of brand awareness or established trust within the industry can contribute to your business being overlooked – it’s easier for your customers to follow the masses and play it safe with the day-to-day standard.
Strategic partnerships offer the security and support to bridge the gap and give you friendly leg-up in the marketplace you’re competing in.
The right partnerships for you AND your customers.
Selecting the right partners is critically important. Their brand, vision and offering to their customers should complement the product, solutions & value that you offer. By aligning these goals from the outset, your conversations and offering will go further than ever; granting you the ability to take care of your clients’ wider interests, filling not one but many pieces of their puzzle. The more of these puzzle pieces you can add, the more attractive the overall solution becomes – and the more integral your position becomes. Before you know it, you’ll become the ultimate ‘networker’ – taking every opportunity to add value in areas that you previously wouldn’t have considered.
Until you spend the time engaging with these partners, you may not have the experience and knowledge of the sector to understand why it was important to your client. Take our own business for example – not to ring our own bell, or stand in our own spotlight – but Lumi-Plugin is an incredible solution, designed to streamline interior ceiling spaces of new-build developments and existing properties, accelerate build times by an average of 2.5 hours per dwelling, and our range boasts a whole host of sustainability benefits. We are very effective in our lane, but by partnering with Sustainability Consultants such as Thoth London – specialists in Net Zero Carbon Homes – we are more able to share insights and point our clients in the direction of professionals within the space. Another example is our latest partnership with Lightwave RF – a smart home solution that is high-quality yet affordable. Our partnership give us the power to showcase our innovation alongside a top-of-the-range system that can further boost home automation and improve energy efficiency.
Business to be shared
There is no reason why partnerships shouldn’t be more common in business – there are an abundance of perks to working in this manner. With every partnership comes new exposure. Collaborations are becoming more and more attractive for all parties involved – for all the rights reasons. Associating your brand with another allows for joint marketing and an equal share of the recognition, which helps to maximise reach and ultimately, empowers everyone’s favourite form of recommendation – word of mouth.
Tom’s final thought:
If you have a solid relationship with a partner that you whole-heartedly believe in – almost as much as your own offering – then sharing your connections is the fastest way to generate new, leads, accounts and opportunities that can help both of you reach your potential.
We’d like to thank all of our partners for their ongoing support – we will always keep our minds open to nurturing new relationships moving forward. Tag us if you’d like to talk #TeamLumi.
We look forward to sharing more insights in future Team Talks – let us know if there is a specific area you’d like to know more about.