After all, what would an Indianapolis website design firm and an automotive dealership have in common? This mindset has been disproven by the strategic partnerships that have occurred between large companies over the years. From expanding the customer base to generating trust, strategic partnerships offer many advantages.
When a company business partners with another, they know in doing so that they will have access to the customer base of the other business. This is what happens when two companies enter into a partnership. Their collaboration allows them to reach a new pool of potential clients, widening their control over the market and growing their revenue in the long run.
One advantage about partnerships is that they add value to a company’s existing pool of customers, allowing them to benefit from products and services that were previously unavailable. An automotive dealership would happily partner with an Indianapolis website design firm if it meant their online interface was easier to use for booking appointments. The best partnerships will satisfy the customers of both businesses.
Strategic partnerships are an effective tool for generating trust. The perception a company portrays to the public is determined by its actions and also the reputation of the businesses with which it associates. As far as most people are concerned, companies are only as good as their partners. A strategic partnership builds trust by allowing one company to take advantage of the generosity and that association leads the public to perceive them in a favorable way.
- December 1969 (4)