Using Events and Partnerships to Grow Your Business

Photo by Shelly Borga of Dakota & Co

Written by Rachel Rowland - Real Estate Matchmaker

The Importance of Using Events and Partnerships to Grow Your Business

In today’s small business landscape, finding effective ways to grow your brand and reach new customers is more crucial than ever. Cost of living is high and with the focus on social media, business owners are often struggling to keep up with the demands of entrepreneurship.

One powerful yet often overlooked strategy is leveraging events and partnerships to expand your reach, build relationships, and boost your bottom line. When done right, these collaborations can help you break through the noise and create long-lasting impacts.

When I began my journey in Real Estate did I think that I would be co-hosting a Therapy Dog event with a mental health practitioner? Nope, sure didn’t! Did I gain two immediate clients from it (Bothell and Covington), strengthen my relationship with a non-profit partner, and begin the steps of buying and selling (Shoreline and Magnolia) with another couple? Yup, sure did!

Expanding Your Reach

One of the most significant benefits of hosting or partnering on events is the opportunity to expand your reach. Events allow you to tap into new audiences and expose your business to potential customers who might not have otherwise discovered you. When you partner with other businesses for an event, you're not only reaching your own audience but also gaining access to your partner’s customer base. This collaborative exposure can lead to increased brand awareness, new leads, and the possibility of long-term relationships with individuals who could become loyal customers. Whether it's a co-hosted networking event, a promotional campaign, an Instagram giveaway, or a workshop, the combined reach of two or more businesses is far greater than what any one entity could achieve on its own.

Splitting Costs = Bigger and Better Events

Hosting an event can be costly, but when you partner with others, you can split the costs and create a more extravagant event than you could have managed on your own. This is especially beneficial for small businesses or startups that may not have a large budget for marketing and events. By sharing expenses like venue rental, catering, or promotional costs, both parties can create an event that feels more high-end and appealing to potential customers without breaking the bank. The ability to pool resources not only makes the event more affordable but also gives you more freedom to invest in elements that will enhance the experience, such as guest speakers, entertainment, or giveaways. The end result is a bigger, better event that will draw more attention and make a stronger impact on your audience.

Potential for Small Cash Flow

While events and partnerships are often focused on building relationships and growing your customer base, they can also provide opportunities for small cash flow. Whether it's through ticket sales, product sales at the event, vendor fees, raffles, or exclusive offers made during the event, there are plenty of ways to monetize these partnerships. For example, hosting a paid workshop or seminar with valuable content can generate immediate income while also positioning your business as an expert in your field. Similarly, offering event-exclusive discounts or deals can drive sales while attracting more people to your booth or venue. Even if the cash flow isn’t enormous, these small revenue streams can add up over time and provide a solid return on investment for your business.

Be sure you know any restrictions around collecting payment associated with your business license. Real estate brokers in WA are not allowed to collect payments unless we go through our office. However, I can have the people I partner with deal with the finances and pay me later.

Drawing Customers Into Local Business Venues

When you partner with other local businesses for events, you create a win-win scenario by not only promoting your business but also drawing customers into local venues that might not have otherwise had foot traffic. Whether it's hosting an event in a local coffee shop, brewery, boutique, or co-working space, these partnerships can help drive customers into businesses that may be underrepresented or struggling to attract attention. This works particularly well for community-based events, where businesses can cross-promote each other to create a thriving local network.

I’ve hosted events at many locations throughout Greater Seattle and the Eastside. Savage Brewing in Kirkland, Pickles Playland in Issaquah, Big Block Brewery in Redmond, Whirlyball in Edmonds, Hilton Garden Inn Redmond Seattle, the list could go on!

Building Long-Term Relationships

The success of an event isn’t just measured by immediate sales or leads—it's also about the relationships you build in the process. Partnerships foster a sense of community and create opportunities for businesses to collaborate in the future. A successful event can lead to more frequent collaborations and potentially even referrals from your event partners. These connections help build trust and open doors for future business opportunities. Moreover, partnering with like-minded businesses can strengthen your reputation and position you as a respected leader within your industry.

I highly encourage using events to support a non-profit of your choosing. For example, I have invited Resilient Hearts Animal Sanctuary (Fremont - Seattle, WA) to bring adoptable puppies to several events. They get dogs adopted, people signed up to foster, and donations from attendees. I get to snuggle puppies, often a lower venue rental fee because they are a non-profit, and expand my reach by meeting their volunteers. We even have a partnership established where 10% of my commission goes back to RHAS as donation when anyone in their community buys or sells a home through me.

Conclusion

Incorporating events and partnerships into your growth strategy is a powerful way to enhance visibility, attract new customers, and create meaningful connections that benefit your business. From expanding your reach and splitting costs to driving small cash flows and supporting local venues, these collaborations have a far-reaching impact on your success. Whether you're hosting a small local event or teaming up with another business for a large-scale initiative, the key is to leverage the power of partnership to grow your brand, build relationships, and generate revenue. By embracing this approach, your business can thrive in an increasingly interconnected world.