Looking to reach new business partners? Two options may spring to mind: marketing and networking.
Pre-pandemic, B2B businesses were spending 4.8 percent of their revenue on marketing.
There is another option that fewer people use. It saves you time and puts you in touch with businesses that match what you’re looking for.
Enter business matchmaking!
Wondering what business matching can do for you? Read on to learn more.
What Are Business Matchmaking Services?
Business matchmaking means connecting businesses that will work well together. That might be in a client/provider relationship. It could involve collaborations and partnerships.
The matchmaker pinpoints businesses you can work with. They may offer complimentary services or have strengths your business lacks. It’s a way of finding opportunities that work for both businesses.
It fills a gap that marketing can’t quite address. Marketing relies on you promoting your products or services to your ideal customer. Anyone who falls slightly outside of that targeting doesn’t know you exist.
The Benefits of Business Matchmaking
You might think business matchmaking sounds like networking. There are a few key differences, which help explain the benefits of the service.
We’ll also explain the benefits for your market reach.
Let Go of Networking
Individual staff might handle networking at dedicated events. They may also have a talent for networking in everyday situations.
This is a fairly inefficient, time-consuming process. You can also find you’ve wasted time making a connection you don’t need.
Business matchmaking is a structured process and it’s aligned to business goals. It’s much more efficient, making it a better use of your time.
Using business matchmaking cuts the time and effort needed for networking. It also removes any doubt. You won’t need to wonder if your networking will be a success. The matchmaker matches your business using specific criteria.
Remember that up to 70 percent of business partnerships fail. That’s often because the ‘match’ wasn’t right in the first place. You don’t have that problem with business matchmaking.
Expanding the Market
Such services also help with expanding your market. After all, marketing exercises such as defining your ‘target customer’ are helpful. At the same time, they can also narrow your possibilities.
A business that would be a great collaborator may not be your target customer. So, your marketing doesn’t reach them.
Using matchmaking gives you access to a wider range of businesses. Even better, it also opens up global markets. Matchmaking services can introduce you to businesses in new territories that you may not have found on your own.
This helps you to quickly establish a presence in a new market without endless networking events.
Reach New Markets
Business matchmaking can be an ideal way to meet new businesses you might not have otherwise met. It’s also a fast way to create a presence in a new market or territory.
Let the matchmaking service do the heavy lifting for you. They’ll use their expertise and contacts to match you with the perfect business partners.
Click here to schedule a consultation. Find out today what business matchmaking can do for your business.