While the best case scenario is to refer business, it is often difficult to generate meaningful leads on a consistent basis. But you may be able to find other ways to add value to the relationship.
Since your centers of influence serve the same target audience as you, but provide very different services than your firm, it is a benefit for you both if you can leverage the synergy you have and work together within the sector while building your individual reputations and brands.
Things you might consider doing together include authoring an article or co-hosting a seminar or roundtable series. When you do this, you bring new resources and information to clients while at the same time giving quality exposure to colleagues who will do the same for you.
You can pitch a presentation to a local chamber or to a trade association which is likely to be even stronger because of the breadth of expertise you bring to the table together rather than promoting your own capabilities.
In any event, identifying ways to help each other – beyond the referral – can be especially effective when you are watching your marketing budget but still want to maintain a presence in the business community.