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Marketing Buzz 01/05

Partnering with the big guys, Yellow Page searches and more
Magazine Contributor
Writer and Author, Specializing in Business and Finance
2 min read

This story appears in the January 2005 issue of Entrepreneur. Subscribe »

Big Deal

Why fight big competitors when you can partner with them? Satnam Gambhir, president of Envision Financial Systems Inc., approached Hewlett-Packard, Intel and Microsoft with an idea: Create an alliance to target the narrow segment of the mutual fund and financial services market that Envision serves.

"By creating a combined solution, we could help Hewlett-Packard, Intel and Microsoft penetrate a specialized market," says Gambhir, 45. Soon, the Tustin, California, software development company received $200,000 in funds for marketing activities and $70,000 in support services (including access to research capabilities and consulting) from Hewlett- Packard, Intel and Microsoft.

Drew Neisser, president and CEO of Renegade Marketing Group in New York City, helps companies set up these partnerships. He offers these cautionary tips:

  • Look for the win/win. Growing businesses must bring something to the table for the partnership to work.
  • Guard your innovation. Avoid exclusivity deals, and take precautions to ensure your product or service isn't ripped off.
  • Be prepared to walk away. Have provisions for ending the relationship if the partnership doesn't work out.

Quick Pick:

Manage all your sales opportunities in one place with ACT! 2005, the latest version of Best Software's well-known contact and consumer management program. It lets you create, organize and easily access detailed records (documenting sales history, opportunities and more) on each customer. Direct integration with Word, Excel, Outlook and other programs is included, as is the ability to export opportunity and contact lists to Excel in one click for instant data analysis and reporting. New enhancements to the Premium edition include the ability to synchronize data from multiple users into a central database from inside or outside the company firewall and to assign access rights to specific contacts by users or teams of users. Street price: $189 for ACT! 2005 (one user; upgrade $145) and $343 for ACT! 2005 Premium (one user; upgrade $243).

-Melissa Campanelli

Advertisers will spend an estimated
on paid search in 2009, up from
in 2004.
Statistic Source: Jupitermedia

Gwen Moran is a consultant and writer specializing in marketing.

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