You have probably seen cross-promotions before. A McDonald’s Happy Meal often comes with an action figure related to the newest Disney movie. You have heard phrases like, “official candy bar of the NFL” or “official soft drink of major league baseball.” These are examples of how well-known companies work together to increase their reach into each other’s markets. Cross-promotions allow companies to share the cost of the promotion and benefit from the reputation and credibility of their partner. This strategy works well for these large companies and can certainly work just as well for you.
When putting together a successful cross-promotion there are a few things you need to consider up front:
- Partners should be in non-competing businesses
- You and your potential partner should have a similar target market
- Both parties should understand what each can bring to the promotion
There should be a natural fit between both businesses. A coffee lounge and local bakery could be a great pairing. A tavern and day care center… probably not a good idea.
Here are a few examples to get you thinking creatively about promotions you can put together.
A pharmacy looking to sell more cosmetics might partner with a cosmetology school to use these same products for demonstrations or makeovers at the pharmacy. Extend invitations to groups containing your target demographic.
A local hardware store looking to promote their latest line of grills and grilling accessories could work with a company that produces sauces, rubs, and marinades for meat. Live cooking demonstrations by a grilling expert show how easy and fun grilling is. Samples of the freshly grilled meats give onlookers a taste of the finished product. Bundle grilling supplies or accessories with some of the sauces and rubs to create a compelling special deal for customers.
To sell more first aid kits and supplies, work with a local chapter of an organization like the American Red Cross, Girl Scouts or Boy Scouts, or a local mountain or costal rescue group to give on-site demonstrations of the correct way to dress a variety of common injuries. Put together a specially priced kit of first-aid and survival items tailored to the possible hazards in your region such as poisonous plants, snakes, bugs, etc.
Joining forces with other companies or organizations through cross-promotion campaigns will benefit both parties. Working together, you can make the most of marketing dollars and generate awareness for yourself and your marketing partner.
by: George Maginnis