Are you constantly looking for new ways to build awareness around your business, your products, or your services? If so, congrats! Small businesses in today’s economy should always be pressing forward in trying to find creative ways to get their name out there.
Is your business located in a small town? How about a big city? Either way, I’d imagine that the majority of readers who own and operate a small business have it located in an area close to other businesses. With that said, have you ever considered approaching any other local business owners to see if they’d be interested in doing a cross promotion with you and your small business?
Cross promotion involves two or more parties who setup a program where each party helps promote the others’ products & services. I had the idea the other day when I was meeting Steve Keib, owner of Tranquility Life Spa & Salon, for lunch at Spatola’s Pizza in Lansdale, PA. He and I were discussing creative ways to market his business when the idea hit me. Steve should have a flier on each table at Spatola’s. In exchange for space at the tables, Steve could offer to put coupons & a menu for Spatola’s at his cash register – persuading each and every customer to take one with them as they pay for their Spa services.
How much do you think a promotion like this costs? If you said almost $0 then you’d be right. It takes a creative idea, a little time and networking, some printing costs and that’s it. You now get access to all of Spatola’s customers and vice versa. Each small business owner is happy and hopefully traffic increases. Definitely be sure that you setup some measurement tools, such as adding a unique code to each coupon you put in someone’s store OR by having your flier say “mention that you saw our flier at Spatola’s and receive 10% off”. For each customer who mentions it, be sure to track that sale in your computer/register so that you can go back to see just how well the promotion is working.
The best part about this idea is that you don’t have to limit your partnership to one other business. You can work with many different businesses in your local area. Just be sure the customers who come into your partner’s store are the same target customer who you want to attract.
Is anyone currently running a cross promotion strategy like this? If so, how’s it working for your small business?