This post was contributed by Robert Matthew.
Whether a business is big and booming or small, most companies still have the same goal of trying to obtain more clients than what they currently have. It’s especially challenging for smaller businesses, but it is still not something that is impossible to do.
One way a small business can have success with gaining more clients within a short time frame is by using a method known as the host beneficiary method.
How Host Beneficiary Relationships Work
In a nutshell, this is how you can become a host beneficiary to your clients:
• Start your small business (which is known as the beneficiary).
• An established business that is offering similar products and services (or targeting the same market) as your company would act as your host.
• Your host will promote to their clients what you have to offer to them.
By using a bigger company that is more established with lots of clients, you can get a start on obtaining your very own clients for your business. It’s truly a great method to use, and there are currently many online and local businesses that are using this method.
If this is all new to you, and you want to try this method out to grow your small business, then you should continue reading the tips below that will help begin this process.
Determine the Audience you are Targeting
To begin, you have to identify the type of audience you are trying to reach. You need to be as specific as possible about the services or products that you have to offer. The more specific you are, the more likely you will get the exact type of audience you are searching for. What you have to offer to potential clients must be something they are looking for.
Connect with Another Similar Business
After you know the exact audience that you are trying to target, you’ll need to search for a business that is offering products to the same market. So for instance, if you are running a sporting goods business, then you could search for a business that is promoting health products.
Reduced Price Offer or Gift
In order to promote your business to others you need to come up with a discount or something for free, which might encourage them to do business with you.
Approaching the Host
This is something that you need to know how to do properly. You need to first send them a pitch via email. Some things that you should mention in that email would include:
• Explain to the host what they will get out of the offer (such as a freebie or coupon for their customers).
• Make sure you explain the simplicity of them hosting for your company.
• The email should be sent to the marketing manager, CEO or top chairperson of the company.
• Call the company if you don’t hear from them in about 2 days max, to ask them if they are interested in your offer.
Editors Note: This method also works very well in newsletters and on blogs. The free or heavily discounted item can be offered to newsletter subscribers or as a prize on a successful blog.
Have you found a way to use this method online? Please share your experience in the comments below.
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