Collaboration with other businesses is a great way to grow your small business. Whether you need assistance with developing strategies or want to take your business to the next level, partnering with other businesses can be key.
Every business has their own unique target market, and a collaboration can help your product or service be seen by an even larger audience. Your business has specific strategies for finding and targeting your audience. You and your business partner can teach each other the strategies you utilize to capture and engage your specific market. For an example, if a partnering business markets to an older male audience than your current demographic, you can learn how to strategically target and engage with this unique target.
Valuable Learning Experience
Marketing tactics, especially online, are constantly evolving, and collaborating with other businesses can offer a great learning opportunity. By sharing tactics you’ve each implemented you’ll get to learn, firsthand, what works and what doesn’t, taking some of the risk out of developing future tactics.
Social media has enabled entrepreneurs to greatly expand their professional network as well as engage with prospective buyers/clients. Cross-promoting can be done via social media, email campaigns, in newsletters, social media posts, etc… Through cross-promoting each other’s business, you are automatically increasing the size of your audience.
Reduce Your Marketing Budget
Depending on the length and depth of a marketing campaign, efforts can be expensive. Sharing the expense with another company and creating joint marketing campaigns will not only produce greater results but also be more cost effective…This all translates to a greater return on your investment!
Foley Marketing Advisors Client Case Study – this information was taken directly from the press release we had created and distributed on behalf of our client
Our client, Ceata Lash, Founder and Inventor of PuffCuff LLC and Joshua Esnard, Founder and Inventor of The Cut Buddy (recently featured on ABC’s Shark Tank) recently entered a mutually beneficial collaboration to cross-promote each other’s brands and patented personal care products. The inventors had been introduced by a mutual business associate who realized his two clients could help each other reach new potential customers by cross-promoting their products via their respective social media channels. The union of PuffCuff and The Cut Buddy will help both parties reach more men and women with the promise to ease the struggle that comes with styling kinky to curly hair textures and achieving a “barber-quality” line at home. The two companies have recently posted on each other’s social media platforms and offered promotional codes via incorporating each other’s brand name.
If you’d like to explore how a potential collaboration could help grow your business, we’d be happy to help…Just shoot us an email!
Danielle Foley, President
Foley Marketing Advisors