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Creating B2B Profit Partnerships
Getting the most social media and PR support from your business partners and vendors
The “Profit Partnership”
“Businesses need to get every last drop out of their business relationships,”
“The possibilities are endless: your bank, insurance company, credit card processor, property management company, Internet service provider, accountant, suppliers - all your partners and vendors have a vested interest in your success and should do all they can to make your business profitable.”
The Profit Partnership program has the sluggish economy to thank for its development. Founded in 2008, MFI is in the unique position of working closely with hundreds of small businesses helping them be more profitable by providing low cost credit card services. Over the years, MFI was surprised to see how many small businesses haven’t been able to keep up with the latest trends in Internet marketing.
MFI has found that many of the most basic Internet marketing techniques such as search engine optimization, Facebook, blogs, YouTube, Twitter, PRweb, LinkedIn and Yelp are more than most small businesses can handle. To help their clients, MFI recently made the unusual move of hiring a marketing director and staff whose main duties are to market their clients instead of MFI itself.
“One actually follows the other,” Ratliffe said. “If you are marketing your customers, you are marketing yourself. We feel it’s the right place to put our focus and it’s a model we feel more vendors should incorporate into their relationships.”
The MFI Profit Partnership program is based on a regular schedule of monthly activities designed to keep clients in social media and PR spotlights 12 months a year. Content, connections and consistency are the cornerstones of the program. The program benefits businesses through expanded social media networks, business news distribution and posts regularity placed to improve search engine rankings.
MFI says every business should talk to their vendors and ask them what they can do to help market their business. There are several techniques that require little time or money that can have very positive consequences. Here is a list of their suggestions.
Ask your vendors if they will:
- Make regular Facebook posts containing mentions of your company
- Twitter news about your company’s sales and specials
- Write a review of your company on Yelp
- Create a link on their website to your website and your social media sites
- Include mentions about your company in their newsletter or emails
- Write an article on their blog featuring your business
- Create a press release containing news about your company
- Create a regular schedule of activities to promote your business
“Marketing methods are constantly changing and competition for your business is an asset you should leverage,” Ratliffe said. “Vendors want your business and this is a good way for them to earn it.”
About Member Financial
Member Financial, Inc., located in Santa Barbara, CA. is a registered Independent Sales Office (ISO) / Merchant Services Provider (MSP) of Wells Fargo Bank N.A. of Walnut Creek, CA. Founded in 2008 by CEO Chad Ratliffe, MFI is an innovative company specializing in combining merchant services including competitive credit card processing with marketing and public relations programs to promote their customers’ businesses. For more info, call Member Financial at (805) 845-1300.