Affiliations, partnerships and other relationships with referral and networking partners can be an effective way to leverage your small business’s limited resources, especially when the relationship is a complimentary one. As with any Marketing initiative, however, you need to be cognizant of what variables you will elect to track and evaluate in order to define success and return on investment. Even if the only investment is time, you still need a way to review progress and discuss if an alternative course or direction may yield better results. And it goes without saying, both (or all, if it is more than two) parties need to set and share their expectations.
Do you have a track record with working with referral partners? What has been most successful for you?