The Power of the Host/Beneficiary Relationship

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By Scott Letourneau

In this economy leveraging your valuable capital is a must. Most individuals and small business owners have very little if any additional capital. That means you must find creative ways to market with almost no budget. How do you obtain additional customers at no cost to you? That is the million dollar question.

First, you have to work on your relationship skills. I know this part sounds like stuff you might learn in kindergarten but so few business owners do it. These things include returning phone calls the same day ideally, returning emails within 1-2 days. Asking first, how may you help or serve. Follow up on what you say. If you finish a meeting and say you will follow up with an email that afternoon with the steps for that person to take, do it.

If you “forget” because you are unorganized or have a pattern of overpromising, that is an issue. One strategy that I take is after every call I schedule a to-do item on my calendar of what I need to send that person after the call. Many times I am able to do that within 5-10 minutes after the call, but many times there may be 2-3 calls in a row and instead of relying upon my memory for what I am promising, I track it. Remember to say please and thank you. Follow up. Add more value. Over deliver.

Be honest. If you cannot deliver something, tell someone that you cannot do that in a time frame or manor expected. Most will respect you more. Even something as simple as asking, have you heard of ________. Instead of faking that you should know that person, be honest. No, I have not heard of that person. Most people will respect your honesty instead of half faking you know them.  I remember hearing one speaker who actually sent out a thank you card to a promoter, BEFORE he speaks. I have always done that after, but not before. I thought that was a great improvement.

For some reason so many seem to skip these basic steps and then they apply the strategies I will teach you next and they conclude they do not work. Most of the times the reason they did not “work” for you is that you did not have these foundational elements in place. Many of you may need to be really honest with yourself and find you need to improve greatly in these little things first.

Let’s discuss the power of the host beneficiary relationship.

The ultimate form of leverage for your business is to find a company, a business or individual who already has the relationships you need access to. They have already spent the time, the money to acquire and keep your ideal customers and clients.  They are seen as the trusted advisor in their field. That is true leverage!

The marketing term is called a “host/beneficiary relationship”, popularized by marketing guru, Jay Abraham.

A host beneficiary relationship is where Company A (the host) agrees to let Company B (the beneficiary)  deliver a sales message to people who are Company A’s customers or clients.

If you are the beneficiary, you are providing valuable content to the host’s clients in exchange for FREE exposure to their entire list! Many times a host may have a membership site or continuity program and are looking for guests to interview either through a teleseminar or webinar. Many times it is your ability on how you position your product or service to add massive value to the host’s clients.

On the other hand, in growing your own business as the host, you may be looking for other great information, tools, resources that really can help your own clients be more successful. Why wait for your clients to find (if they are likely) the right resources to grow their business or find the consumer resources they need. It may be your responsibility to search out the best resources for your clients or customers and become the host of numerous bonuses, teleseminars, webinars and other ways to brings in beneficiaries to help your clients or customers become more successful. In fact, the revenue share you may experience by being the host may offset your entire marketing budget when done properly!

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