Marketing doesn’t have to be an “every man for himself” proposition. In fact, there are many advantages to partnering with another business for cross promotion. Cross promotion can save you and your partner marketing dollars, it can result in an opportunity to reach a whole new audience, and it can often create “buzz” if it is done in a creative and unexpected way.
The key to cross-promotion is finding a willing partner who will find the idea mutually beneficial. What other businesses serve your target market? What opportunities exist with vendors and business partners? Could the charitable organizations you support also be a good fit for cross promotion?
Once you identify some potential partners, here are five cross promotion ideas to get your juices flowing. For additional insights, customized to your business’s needs, contact us!
1. Social Media – This one is simple first step and may just require a little coordination once you establish a partnership. Agree to plug your partner on Facebook and/or Twitter and ask that they do the same, either for a one-time promotion or on an on-going basis. It’s important to make sure you are on the same page here and probably best to approve each other’s comments prior to posting.
2. Special Events – Throw an event together, or give your partner sponsorship credit in exchange for their support in marketing your special event. Be clear about what you would like them to do (i.e. pass out flyers, provide a guest list, etc.) and give them an outline of sponsorship benefits (recognition at the event, logo in printed materials, etc.)
3. Contests & Giveaways – Get creative and create a contest or giveaway program that will appeal to the target market shared by both your business and your partner’s. This tactic has the potential to create a lot of “buzz” with your customers, and possibly media attention.
4. Give Back – Partner with another business or businesses to raise money for your favorite charity. Perhaps you can each agree to donate a portion of your sales to the same charity if customers purchase during a specified period of time, or give customers a discount coupon redeemable at multiple businesses in exchange for a donation.
5. Ad Space/Promotional Items – Share advertising dollars by creating an ad that promotes two or more businesses together or have multiple business logos placed on promotional items. This is a good tactic to consider in conjunction with a bigger cross promotional program such as a giveaway, special event or charitable giving program.
For optimum results, consult your marketing firm about developing a customized program for cross promotion. We may even be able to recommend a partner business and help you present your ideas and opportunities to achieve buy-in.