Team up with another local business to expand your customer base
To expand your market share, consider cosponsoring a promotion with a
business in your community that has a different product but similar types
of customers (a bridal salon or wedding photographer, for instance). An
article in Say It Better!, a marketing newsletter, suggests several
ways to run a successful cross-promotion:
- Offer discounts or special services if customers buy products from
both you and your partner. Give gift certificates for your partner's services
to customers who spend a certain amount.
- Advertise each other's services in your stores on receipts,
brochures dropped in shopping bags and countertop signs.
- Combine mailing lists for joint postcard mailings.
- Produce a joint in-store event, splashier than one you could produce
on your own.
- Encourage salespeople to mention your partner's product and the benefits
of your partnership.
by Stacey King
Copyright © 1999 by Bond Communications.