With a large measure of creativity and a willingness to authentically engage your customers online, you can now grab mind share and wallet away from the competition by using largely free and easy-to-use social media marketing weapons.
Who Employs Alliance Marketing?
Alliance marketing can be employed by virtually any business when it can find partners interested in mutually beneficial cooperation. Fundamentally, it involves pooling resources—whether those resources are knowledge/expertise, distribution infrastructure, brand recognition/reputation, or simply money—to achieve a result that would be more costly to obtain independently. Examples include:
A buyer visits the bank to prequalify for a new home. While there, the banker refers them to a realtor that can help them with their new-home transaction.
Meanwhile, someone visiting that realtor discovers they can get great service on closing title from a recommended title company. Since each business is not competing with each other, they have found it to their advantage to promote one another, referring customers back and forth to increase sales.
Alliances of non-competitive businesses. This would include the banker/realtor example above; or an architect, contractor, and insurance agent teaming up to offer end-to-end service to the same customer
Alliances to expand into new markets are particularly useful, since independent expansion requires a huge investment of resources and the development of new distribution channels. This is especially useful for tapping into overseas markets; a firm in one country can offer a product through another firm already established in another country, thus tapping into the new market immediately.