How does a B2B furniture company survive?
The amount of furniture stores I pass on my way to work every morning is almost alarming. Their windows are littered with signage claiming the lowest prices, highest quality, and best customer service in the industry. But a few months later, those signs will be replaced with ones that say 70%-90% off, everything must go.
It makes me wonder what differences there must be between the stores that go out of business quickly to the ones that have been around for a long time, especially when they both seem to offer the same products and services.
I found that the answer lies somewhere in the cliché that it’s not about what you know, it’s who you know.
What is a Referral Partner?
A referral partner is someone who refers you business. Pretty simple, right?
Eh, not quite…
As straightforward as this seems, cultivating referral partner relationships can be challenging. But no matter how challenging it may seem, these relationships can be the differentiating factor between your business’ success or failure.
An ideal partner is someone who already has a relationship with the client and acts as a bridge connecting your business to the potential customer. In the B2B furniture space, these partners can be architects, interior designers, property managers, developers, brokers, or anyone else in that space who could refer you business.
The Importance of Partner Referrals
Partner referrals are beneficial to businesses in any industry. They handle the messy work of finding new customers and let you focus on closing deals.
They are, however, especially important to businesses in the commercial office furniture industry. Their partner referrals are essential to drive business and increase the overall productivity of the company.
The reason they’re so great is they know what you need to know. It goes without saying that commercial furniture is a right time, right place industry, and your referral partners will know the right time and the right place.
Commercial furniture suppliers experience a lot of backlash from waiting for business to come to them rather than going out and developing business for themselves. These partner referrals act as the outbound outreach they need in order to keep their pipeline full.
This relationship works because it’s mutually beneficial. Your business gains steady lead inflow, and your partners appear knowledgeable and heroic to their clients.
Saying, “Howdy, Partner”
If you haven’t done business with a partner in the past, you generally want to start with introductory emails where you let them know what you can do and what your capabilities are. And, most importantly, how you can make their lives better.
After the introduction, you want to move to an educational angle. Show them that you are a wealth of knowledge they can tap at any time. ALWAYS use multiple channels for this education play.
If you go to an event and meet a potential referral partner, always follow up with them. You need to cultivate a relationship.
Once you’re in, don’t leave them high and dry! Continue to tell them about what’s going on in the industry so they will feel more comfortable connecting you to new potential clients. Marketing automation is a great tool for this!
Get to It!
Growing your partner referral network will take time, but it will strengthen your place in the industry. You’ll gain greater visibility in the marketplace and stay top-of-mind (isn’t that always the goal?).
So what are you waiting for? Giddy up!
Check out the original post on obo.Agency's website here!
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