When you own a local business, it can be fun and rewarding. A beneficial way to help market a local business is through partnering up with other local businesses and can increase revenue and extend the client base, this can prove to be a cost effective relationship that will help both brands grow through cross promotion.
Join a strategic collaboration organization
If a local business ever needs additional resources for strategic collaboration, a beneficial membership is through The Association of Strategic Alliance Professionals, an organization that provides tools and resources, education and professional development and a community for networking to alliance professionals at every stage of business collaboration.
Create a marketing plan
Take a look out of the eyes of your target customer and ask the following:
Where will both local businesses be promoting this product?
Why are these local businesses teaming up to promote this product?
How will the product benefit the customer?
Who is the target demographic for this product?
What would the consumer’s perception and feelings be about the product?
When is this product being introduced?
It’s also important to address the following when you partner up to market a local business:
Ask how your product or service will benefit a customer. It’s important for partnering businesses to offer high-quality products or services that offer a unique selling proposition.
Make sure that your products are priced fairly for customers. It might even be worthwhile to offer a special introductory price to entice more prospects to try your products or services.
Explore multi channel strategies to market your local business. Explore promoting your local partnership on each business’s social media platforms, websites, blogs, email marketing campaigns:
Announcing in a joint press release the strategic collaboration to consumers and placing the press release on both websites and through media distribution.
Executing a social media contest, like a photo contest featuring the target products or services, complete with dedicated hashtags.
Appearing as a guest on the other local business’s social media platform and discussing how excited you are to be collaborating with the other business and what services you’re both offering.
Place the product strategically on all platform pages you are pomoting on. Such as social media outlets Facebook and Twitter.
When you market a local business via strategic collaboration, do not forget to have all your plans laid out well. Also have a back up plan in place, just in case something falls through with the collaboration. When both businesses go into the collaboration with integrity, equal amount of time and professionalism, then both businesses will reap the benefits in the long run.