Why partnerships are vital for your business development – Guest Editorial
“We have answered the door to people from many different professions and fields of interest to earn long-term revenue from our growing Forex environment. We have an expanding network of clients with interests in many streams of lead acquisition, retention and conversion, from all across the forex universe” says Leverate’s Chen Ben-Nun
This is a Guest Editorial by Amram Margalit at Leverate
“It takes a village to raise a child”, says a famous adage, which is also true for businesses these days. Whether it’s an established business or a start-up, every industry, service and product needs a network to fulfil their external needs.
In the age of technology, everyone is hyper-connected. There is an intricate web of people and industries bringing their expertise together to assist in each other’s success symbiotically. Business executives need to operate in multiple different environments. Firms need access to banking, liquidity, marketing, payment solutions, sales and more, and that makes today’s brokers more interrelated than ever before.
Within this complex mesh of inter-business connectivity, new commercially beneficial options have arisen, one of which has become particularly popular in the Forex worlds. Partnerships, of mutual benefit to all parties, have become the way forward, whether it is introducing brokers, the supply of white label solution, or affiliate connections.
The partnership collaboration model opens doors for people not immediately linked to the investment or trading industries to find a footing in the competitive business.
Asset managers, lawyers, accountants or business managers may only have contact with the periphery of the industry, but they have skills and clients they can bring to the table.
“We identified demand from people who aren’t brokers to get involved in the profitable forex business”, says Haim Machluf, Sales and Business Development Manager at Leverate, a leading brokerage technology provider. “We found interest among people from online gaming, finance management, e-commerce and financial journalism, among other sectors, but most of them don’t know how to begin. That is why we created the LXClub program. LXClub offers clients a range of partnerships offers that can help them make full use of their network of contacts, and even earn some passive revenue.”
Keys to a Successful Partnerships
So what makes a partnership successful? In partnership planning, certain things need consideration: the right kind of relationship, the degree of commitment, and the right partner. Chen Ben-Nun, Leverate’s Head of Sales and Business Development, shared her insights.
“One of the key requirements for a successful partnership is mutual trust”, she says. “Our partners should be certain that their clients are not simply being used as leads. It’s vital for their reputation. When we cultivate a client that was referred to us, we ensure that the cooperation is trilateral, meaning that everyone involved benefit from the partnership arrangement.”
Another critical ingredient to creating a good partnership is independence. Some people are wary of tying themselves into binding agreements that could have detrimental effects on their future business.
“LXClub is a bespoke partnership agreement – there is no prescribed commitment. Partners can sign-up when they have a lead, and then retract if the lead is unproductive. We don’t ask for exclusivity. Those who partner with us can have multiple active partnerships simultaneously.”
Added value is the final essential key to making a partnership work. It’s not just about making more money – it’s about expanding the value it can bring to the clients.
A good example would be a lawyer or asset manager servicing clients from the forex world. Introducing a tech provider into the equation helps his clients, helps him, and helps the tech provider by expanding their reach.
Finding a complementary partner might be harder than linking with others in the same line, but it’s ultimately more beneficial for everyone involved.
More Than Just Referrals
While referrals are a great way to expand reach across linked industries, there are other ways to partner without a direct reference. This could be an arrangement of Introducing Brokers or affiliate marketing for traffic and lead generation.
In these fields, as well, future partners are searching for an added value. It can come in the form of specially designed IB management tools for brokers, or bigger commissions for lead generators. But there is no substitute for a large company that can introduce you to a wide business ecosystem.
“Leverate has multiple options for collaboration, not just for business partners”, says Mrs. Ben-Nun. “We have answered the door to people from many different professions and fields of interest to earn long-term revenue from our growing Forex environment. We have an expanding network of clients with interests in many streams of lead acquisition, retention and conversion, from all across the forex universe.”
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