With the state of the current economy, many small businesses are continually looking for new ways to market their small business. Finding creative, low-cost ways to get your small business name out there is usually at the top of every entrepreneur’s list! So, let’s talk about partnering with other local small businesses.
Have you ever considered approaching another local business owner to see if they would be interested in creating a cross-promotion with your local business? If you have, congrats! You’re a step ahead! Cross-promotion involves two businesses working with each other to co-market the other’s products and/or services. For example, let’s say you own a local flower shop. Some ideas of complementary local businesses to consider for cross-promotion could include: wedding planners, bridal stores, boutique hotels, gift shops or home décor stores. Let’s focus on the example of a wedding planner. You could offer to include a discount or wedding planner special offer in your next customer mailing or possibly display a flier and business cards for the wedding planner on the counter at your store. In exchange, the wedding planner could provide a brochure showing the floral packages at each bridal consultation.
The great thing about a cross-promotion like this is it costs practically $0. It only takes a creative idea, some time and networking with local businesses, and printing costs – that’s it! But, you have now greatly increased the size of your business’s prospect list. You now have access to all of the wedding planner’s customers, and she has access to your customers as well. Each small business owner has the opportunity to increase traffic and accordingly, sales!
Another great thing about cross-promotions is that you don’t have to limit your partnership to just one business. You can work with many different types of businesses in your local area. Just ensure that your partner business’s customers are the same target customers that you want to attract to your business.
Have you run any cross-promotions in your local small business? We’d love to hear about them!