So have noticed “how” some of the biggest names in corporate America, are strategically teaming up and sharing their enormous marketing/advertising resources?
You’ve got Kinkos and Fedex (Federal Express), in certain strategic locations, literally sharing the same commercial office space.
Then you look around and see KFC and Taco Bell, sharing the same facilities.
At first glance, these mega giants, may not appear to be using strategic cross promotions, but rest assured, they most certainly are.
So the question begs asking entrepreneur, (if) strategic cross promotions are good enough for FEdex and Kinkos, why in the world, aren’t they good enough for you?
Besides the fact, they are a proven way to leverage your extremely limited resources, plus it allows you, (and or) your major competitors to rapidly expand your reach, irregardless of your current size and or capacity!
But enough about the big boys and girl, let see how your typical small business owner, and or service provider, cashes in using this battlefield tested marketing strategy.
So Why Would Any Profit Seeking Entrepreneur Turn Up Their Nose To Any Money Making Cross Promotions?
Entrepreneur, it may not seem like it at first blush. But strategic cross promotions, are a market tested way, for you (or I) to dramatically lower our upfront, out of pocket cost.
While simultaneously zero in, on a proven target market, for a whole lot less than normal.For ex: let’s say you’re a local developer, who primarily sells, well maintained single family homes and five and six unit apartment buildings and townhouses and or condos etc.
And since your buyers are primarily upper income professionals, who routinely earn high five to mid six figure a year annual incomes.
They are the prime prospects of this particular developer/builders prospecting efforts.And across town, you have a well respected, family run furniture retailer, with two -local- locations.
And they specialize in catering to the higher income earning individuals and or couples etc. Let’s take a look at two incredibly simple, relatively non expensive ways, of strategically cross promoting!
Strategic Cross Promotions Are Definitely A Potential Game Changer!
Bare in mind, your typical -local- developer/builder, wisely budgets anywhere from 20- 30% of their monthly expenses, to constantly running, several type of outrageously expensive, traditional advertising campaigns.
Whether they be in local magazines, newspapers(with huge) local circulation, and or with local radio and or TV ad campaigns etc.
And needless to say, none of these traditional advertising methods, and or strategies are exactly cheap! And likewise,so to does the local furniture concern.
They’re constantly running various types of relatively expensive ads, in pretty much the exact same mediums.So between the two of them, a ton of money is leaving their bank accounts every month/year etc!Right?
And in the case of the furniture concern, since they can (and routinely) do have market ups, anywhere from 40–600%!
They have a ton of spread in their furniture, so anytime they maintain their (overall) gross profit margins, while simultaneously reducing their upfront out of pocket cost.It absolutely makes sense to do so!Don’t you agree?
Small Business Owners Or Service Providers Can Give Themselves A Much Needed Raise Simply By Effectively Utilizing Strategic Cross Promotion Opportunities!
Watch how simply by having access to a reputable, paid email service provider, can and will help these two profit seeking entrepreneurs, strategically cross promote each other, for literally pennies on the dollar!
1.) Potential cross promotional strategy # one: So let’s say, because both business owners, are current members (in good standing) I might add, with their local chambers of commerce.(And or any other type of reputable local networking group.)
So they meet at one of the monthly meetings and immediately hit it off. And after several brainstorming sessions, they both decide they can help each other immensely, to (both) drastically reduce their upfront out of pocket costs, and simultaneously increase their long term gross profits in the process!
Here’s how, since they both have opt in email lists with at least 1,500 total subscribers on them, they will simply send a series of market tested, unscheduled “broadcast” email swap messages to each others lists.
(Important note: It really doesn’t matter the actual size of their current opt in email/mobile marketing lists are! It’s the overall marketing concepts you gotta get here people!)
And they routinely offer each others customers, special time sensitive offers, with the best terms and highest guarantees and or warranties currently available!
2.) Potential cross promotional strategy # two: Both entrepreneurs will also (inexpensively test) offering some of their best market tested lead generating offers, by including them as piggyback inserts in the others outgoing mail to (both) their customers and vendors!
And they’ll either decide to joint venture (revenue share) a portion of the gross profits with each other. Or they’ll decide to pay 100% for the entire cost per piece to insert the offers in the other vendors outgoing mail, and keep 100% of any and all profits generated!
In any event, is it starting to become obvious, how strategic cross promotions, can and will add nicely to your bottom line, while drastically lowering your upfront, out of pocket too! Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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