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With shrinking budgets for small businesses, cross-promotion is an age old method professionals use to spread word about their company.
What is cross-promotion?
"Cross-promotion is a form of marketing promotion where customers of one product or service are targeted with promotion of a related product"
Even the most time-pressed business owner can attract more customers with less effort through the right cross-promotions. Why? Because when you join forces with other credible people who also reach your market you can reach your customers more efficiently, credibly and memorably with the right offers and services.
For example If you're nail business, find a hair business to partner with. Are you a photograher? find a wedding business to partner with.
Advantages :
• Cost of promotion is less
• Win-win situation for both parties
• Cross-promotion marketing is the easiest and often times one of the most successful marketing strategies
• Both businesses can promote themselves simultaneously.
Cross promotion activities could include:
Display print collateral
One of the simplest ways to cross-promote is by displaying or distributing print collateral—brochures, calendars, business cards, and flyers—in a waiting room, next to the till, or mailed with statements, invoices, or business correspondence. When you’ve found the right business—or several businesses—to pair with, swap printed material. This will ensure that your business is made visible to potential customers, customers that would ultimately benefit from your products or services. If you’re looking for a low-friction way of cross-promoting your brand, this is it.
Events
Co-sponsor an event – This will allow you to cut your event costs in half, and it ensures you get the other company’s audience and customers in attendance, which will only benefit your company’s marketing efforts and outreach. Depending on the nature of your business, you can choose to hold a local, national, or even online event geared toward your target audience. Whichever you choose, make sure all companies with which you’re cross-promoting have equal visibility. This will strengthen your professional relationships now so they can still be of use to you in the future.
Incentives
Start a referral program – Offer discounts or rewards for those customers who refer business to your partner’s store and vice versa. This is a fantastic way to create a network of consumers. Remember, again, this only works if you cross-promote a complementary business rather than a competing one. The latter is rarely a good idea. A referral program will encourage your customers to spread the word about your business and your cross-promotion partner’s business. Everyone benefits.
Mailers
Swap mailing lists – While this effort obviously gives you even more potential customers, the ethics of such an act continues to be debated. After all, haven’t we all been annoyed when we’ve discovered a company has sold or traded our information? Instead of swapping all the information on your mailing lists, you can provide your current customers and clients the option of being contacted by a partner or affiliate. Alternatively, featuring a peripheral business to yours on mailers to your clients while being featured on mailers to their clients is a common method for this type of swap. This will keep your professional reputation unsoiled and give you the opportunity to lengthen your own mailing list.
Web efforts
Trade online content – While this type of cross-promotion requires a lot of valuable time in creating the content, it’s one of the most beneficial ways to market your brand on a small budget—or even if you have a large budget, for that matter. Write a guest blog post, general website content, or informative, on-topic articles. This online content can help establish your reputation as being knowledgeable in your field or industry. If you can write content that is informative and valuable, you’ll have a stream of users checking out your site, too. The challenge here is in finding like partners that would mutually benefit.
Finally, watch this video which explains cross-marketing brilliantly!
5 Cross Promotion Examples for Local Business | Carmen Sognonvi - YouTube
What is cross-promotion?
"Cross-promotion is a form of marketing promotion where customers of one product or service are targeted with promotion of a related product"
Even the most time-pressed business owner can attract more customers with less effort through the right cross-promotions. Why? Because when you join forces with other credible people who also reach your market you can reach your customers more efficiently, credibly and memorably with the right offers and services.
For example If you're nail business, find a hair business to partner with. Are you a photograher? find a wedding business to partner with.
Advantages :
• Cost of promotion is less
• Win-win situation for both parties
• Cross-promotion marketing is the easiest and often times one of the most successful marketing strategies
• Both businesses can promote themselves simultaneously.
Cross promotion activities could include:
Display print collateral
One of the simplest ways to cross-promote is by displaying or distributing print collateral—brochures, calendars, business cards, and flyers—in a waiting room, next to the till, or mailed with statements, invoices, or business correspondence. When you’ve found the right business—or several businesses—to pair with, swap printed material. This will ensure that your business is made visible to potential customers, customers that would ultimately benefit from your products or services. If you’re looking for a low-friction way of cross-promoting your brand, this is it.
Events
Co-sponsor an event – This will allow you to cut your event costs in half, and it ensures you get the other company’s audience and customers in attendance, which will only benefit your company’s marketing efforts and outreach. Depending on the nature of your business, you can choose to hold a local, national, or even online event geared toward your target audience. Whichever you choose, make sure all companies with which you’re cross-promoting have equal visibility. This will strengthen your professional relationships now so they can still be of use to you in the future.
Incentives
Start a referral program – Offer discounts or rewards for those customers who refer business to your partner’s store and vice versa. This is a fantastic way to create a network of consumers. Remember, again, this only works if you cross-promote a complementary business rather than a competing one. The latter is rarely a good idea. A referral program will encourage your customers to spread the word about your business and your cross-promotion partner’s business. Everyone benefits.
Mailers
Swap mailing lists – While this effort obviously gives you even more potential customers, the ethics of such an act continues to be debated. After all, haven’t we all been annoyed when we’ve discovered a company has sold or traded our information? Instead of swapping all the information on your mailing lists, you can provide your current customers and clients the option of being contacted by a partner or affiliate. Alternatively, featuring a peripheral business to yours on mailers to your clients while being featured on mailers to their clients is a common method for this type of swap. This will keep your professional reputation unsoiled and give you the opportunity to lengthen your own mailing list.
Web efforts
Trade online content – While this type of cross-promotion requires a lot of valuable time in creating the content, it’s one of the most beneficial ways to market your brand on a small budget—or even if you have a large budget, for that matter. Write a guest blog post, general website content, or informative, on-topic articles. This online content can help establish your reputation as being knowledgeable in your field or industry. If you can write content that is informative and valuable, you’ll have a stream of users checking out your site, too. The challenge here is in finding like partners that would mutually benefit.
Finally, watch this video which explains cross-marketing brilliantly!
5 Cross Promotion Examples for Local Business | Carmen Sognonvi - YouTube
