Monday, September 12, 2005

"Have Another Business Gladly Cover Some of Your Marketing Costs"

If you have been reading past posts on this blog, you know that I am a fan of partnering up with another business that targets the same client base you do, but is not in competition with you. For example, a Printing company could partner with a Design company, etc.

As a general rule, you should strive to partner with 2-5 businesses that are willing to help with your marketing efforts. (Of course, you should be willing to help with theirs too.)

One way this helps is by doubling the amount of leads and research each business generates. You share your leads with me, since our customers need the both of us, and I share my leads with you.

Another way to help each other is by cost sharing in your advertising. This works for the both of you because a larger ad is usually cheaper, per inch, than a smaller ad. To effectively share costs, buy the larger ad space and divide it up amongst the two of you. Have your designer create two separate ads that fit in the larger ad space.

For example:

A half page ad in a small newsletter sent to your target audience might cost $500.

A full page ad in that same newsletter might cost $750.

Therefore, each business saves a total of 125$ per ad!

Little ways of teaming up together can help reduce your costs, and marketing efforts!


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