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Your Most Important Trading Chip

Strategic Alliance
December 04, 20221 min read

I recently had an interesting encounter.

You see, there was a guy in Germany who reached out to me and said

“Can you run a strategic alliance program with me?”

I said, “Sure can! All we need you to do is use your database as a trading chip.”

He said, “I don’t have one.”

That’s when I realised something:

Some business owners undervalue their database.

And I think that’s a HUGE mistake.

Because your database is an asset for your business.

Even if some people in your database haven’t responded to you…

That’s still a valuable trading chip for other businesses.

Why?

Because your database is already available to use.

They just have to integrate your database into their systems to increase their marketing reach.

For some businesses, that’s considered gold.

What’s more, you can leverage it to get more from your business partnerships.

That means the bigger the database, the more valuable the alliance will be.

And instead of you chasing them, they’ll be the ones chasing you because of your database.

Best of all…

You can make this database even more appealing.

How?

You just need to build a relationship with your database.

Perhaps you’re thinking…

“How can I build a relationship with my database? I’ve got dead leads there that aren’t responding. Why should I waste my time with them?”

Well, as long as those “dead leads” haven’t unsubscribed to you yet…

There’s still a chance you could convert them.

So don’t give up on nurturing them.

After all, part of the appeal of your database is the relationships you’ve built and maintained with those prospects over the years.

That’s another value added to this trading chip.

I hope this can help you build beneficial strategic alliances.

David Guest

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