The right partnership in the business world can be a golden opportunity for both parties. If you haven’t considered cross-promotions marketing as a component of your overall marketing strategy, you may be missing a valuable opportunity. Here are some tips on how to embark on a cross-promotional business partnership.
Look for Related Offerings
Think about your product or service and what types of other offerings are related to it. For example, if you sell spices and herbs, can you work with a meat producer to promote dishes that use both? If you specialize in flooring, can you partner with an interior decorator to match furnishings with floor coverings?
Be creative and you can think about what tools your employees might use, what services would bring added value to your customers, and what perks might help your suppliers. Work together to create a mutually beneficial promotion for both companies.
Increase Efficiency by Sharing Resources
By finding a partner company that has similar marketing goals, you can pool resources and both save time, effort and money. Share market research data, mailing and marketing lists, and creative resources. Promoting one another’s products and services through public relations efforts, and on websites and social media platforms benefit both organizations.
Consider pooling resources to sponsor a contest or a giveaway promotion, work on a special event, create a co-branded marketing collateral or share ad space. Don’t forget to think about sharing physical space as well. Perhaps merchandising or signage can be displayed at brick-and-mortar stores or promotional flyers can be included in shipments. Keep your eyes open for multiple business partners who can all share the same marketing bandwagon.
Walk in Your Partner’s Shoes
When you think about business partnerships, spend some time considering what your potential partner may be seeking as well. How can your business help another company market its business? This line of thought will not only help you select the best businesses to approach but also help you start the cross-promotional marketing discussion more easily. Start by describing all the benefits, cost savings and potential gains for your partner.
Approach Both Friends and Far-Flung Candidates
Although it’s always wise to start with your current business network and the relationships you already have, don’t forget to think outside the box as well. If you can find a creative partnership, it will be all the more novel and appealing to your target audience when you find a unique way to work together.
For cross-promotional marketing and business partnership ideas and program support, you may want to work with a Las Vegas-based public relations company. GYC Vegas, an agency specializing in public relations in Las Vegas, brings years of experience to the table to help you find creative and beneficial cross-promotional marketing opportunities.
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