Believe it or not, you can use host beneficiary relationships to generate up to seven times more clients than through conventional marketing means!
Do you know of someone who offers a product or service that is complementary to yours?
For example, as a practising life coach, you may know someone who runs a health and wellness centre. This could be the start of a very successful host beneficiary relationship!
One of the most powerful ways to get extra clients is to form a host beneficiary relationship with a complementary service provider.
It works like this:
1. Approach a non-competitive company or business owner and offer them a special promotion to extend to their database of clients.
2. Tell them that you are running a complementary yet non-competitive business and that together you could create a lot of extra profit for each other
3. Encourage the host to try your services for free. This will remove any pre-conceived fears.
4. Demonstrate to the host how committed you are to the relationship. Make the host comfortable about the high level of customer service you will provide to his/her clients.
5. Create a promotional offer that demonstrates excellent value for the clients and the host. (For example you could give 10% or more of the profit from each new client that you attract, to the host).
6. Explain to the host that you will do all the work, and you will run the promotional emails or mailers by them for their final approval.
7. Let the host control the money flows (trust them even if they don’t trust you.
8. If possible get the host to personally endorse your product.
9. Send out the promotion to the host's database of clients (slash your marketing costs by leveraging another business's list).
This strategy works in reverse as well.
You become the host, they use your database to sell to your clients, and you get additional windfall profits!
Now, who could you get into a Host Beneficiary Relationship with?