One of the smartest things a small business owner can do to boost their own business’ visibility and appeal is to partner with other relevant, nearby enterprises in joint promotional campaigns.
The benefits of partner promotions is immediately apparent: right off the bat, you have more resources, more energy, and more people involved than if you were running the promotional campaign on your own. Additionally, if you’re a relatively new business, partnering with a more established one is a great way to be introduced to those community members who may not have heard of you yet.
The key to successful joint marketing campaigns is due diligence. Select your partners in joint promotional campaigns very carefully. You want to work only with businesses who have an excellent reputation, that are capable of living up to their part of the bargain. Remember that your customers will judge you not only by how well you honor the promotion, but by how well your partner performs – this is a very serious matter.
Once you’ve found someone you’re comfortable working with, talk with them about what type of campaign would benefit both of you. It can take some time to figure out the ideal combination of offers that benefits you, benefits your partner, and makes the customer feel like they’re getting an irresistible deal. Nail down the dates on which you’re going to start and stop the joint campaign.
Make sure you’re clear on how the joint promotional campaign will be promoted. Articulate your expectations about online promotion, including mentions on each business’ homepage, blog entries, and social media postings. It’s also important to talk through traditional promotional methods, such as print and radio advertising, signage, and staff recommendations of the special deal. Make sure each partner knows what the other is doing to promote the special offer, as well as who is expected to pay for what portion of the marketing. Writing this all down in advance of the campaign is a great idea – it helps avoid any confusion or disputes after the fact.
Finally, once the promotion is launched, make a point of keeping the channels of communication clear and open between both businesses. You’ll want to know what your partner’s experience has been, and what you can expect, based on their business patterns. If done properly, a joint promotion can be a regularly occurring event that the customers of both businesses look forward to!