Relationships will always be the cornerstone of good business. No doubt that established trust and familiarity with a company motivates investors to take a risk and makes customers feel more comfortable finalizing a purchase.
Social media is a constant reminder of how positively reaffirming relationships can be. When a company sends a message to their followers and tags someone else, they are not only enhancing their awareness, but are raising the awareness of the one/s they tag. From there, the tagged individual will often reply thus raising their awareness and yours simultaneously. In the right circumstance, the number of views for one company can grow exponentially depending on the number of people sharing and replying.
Although a good example, social media is far from being the only place where companies can profit from assisting others. Sales enablement tools like case studies and customer testimonials are another clear example of how making your customers look great makes you look great in the process.
When companies and individuals go into a collaborative agreement they are always looking to move themselves forward in the process. My advice for the next time you engage with an outside firm or business would be to consider whether they profit as much or more from the interaction as you. Aim to deliver 110% of the value that you gain from the interaction back to them. Doing so guarantees a positive relationship moving forward and creates future opportunities for engagement.
Join the conversation by letting us know how you collaborate with others in order to obtain a mutual business benefit. Leave a comment below.
Lee Sumner, Research Analyst