Competing in a market may not be an easy pie, but is a reality that all of us face. Many companies dislike their competition because they affect market share. But the truth is, in many cases, a competitive marketplace is a good thing. In the education and migration industry, building relations and growing your network can in fact grow your business.
Competition inspires innovation and progress. So, if you can stay on good terms with your agency network, it can result in several mutual benefits.
Let’s discuss now how you can build healthy relations within your agency network.
Identify your competitors
You can learn a lot of things from your competitors. In fact, it motivates you to work harder. So, first, know who your migration consultancy competitors are and what they serve in the educational market. Compare and see how your company is different from the other migration agency. It will ultimately help you to understand your agency’s strengths and limitations better. And it also allows you to see where you can possibly collaborate and enhance your agency relationship. Since everything is online in today’s world, it’s much easier to track and know every competitor’s move.
Be a part of professional networks and communities
Building a professional network is one of the crucial parts of building a strong agency relationship. To build a network, you can find various professional communities and be a part of them. Networking can be done both offline and online. Know where your competing companies are participating and try and be an active member of that community. Have your presence in migration consultancy industry-related events. Such events and forums help you get closer to businesses and strengthen personal ties. If not offline, you can also be a part of online communities. LinkedIn is one of the best examples where you can build your network. You can share insights and look for business opportunities. These communities can provide continuous learning and support professional development. Once people and agencies in your industry start taking notice of what you have to say or offer, they will join your network willingly.
Be open for collaborative connections
Always keep your agency open for collaborative connections in the business. You’ve probably heard the expression “it takes years to build trust, but seconds to destroy it.” Try to build trust through openness in the competition. Offer them opportunities to know your agency and agency culture. This can encourage them to do the same thing for a better and more collaborative relationship. Such types of collaboration can help you in the long run.
For instance, take an example of a potential client reaching you for a service that you do not offer. By partnering with other agencies, you can refer the services to the other agency from your network. This helps build trust among your agency network and also improves your client experience which will ultimately benefit your business.
Propose strategic alliances to other agencies
The market of the education and migration business is so vast that even if you wish to provide all the services to your client, you can never do that. The market is yet so unsaturated that most of the agencies can specialize in certain kinds of services only even when they know there are other scopes as well. In such a situation, partnering with other competitors who can provide services different than yours but in the same industry can foster your business. Strategic alliances help pool resources together, so you can cater to bigger markets. Moreover, it can help you during times of crisis like industry slow-downs or pandemics like the recent ones.
Encourage healthy competition
Competition is part of the business but it does not necessarily mean that it’s always negative and unhealthy. Competition can be a healthy one that can foster growth, innovation, and improvement in both parties. Building a culture of healthy competition within your agency first. This will encourage your team members to work better. A healthy culture is reflected in your agency relationship and network. Being honest and professional in your approach will ultimately build a good image of your business among your competitors.
To sum up, networking and building a healthy relationship with your overseas consultancy industry can lead to shared benefits and growth.