How simple cross promotions help you effectively stretch your marketing dollars!
Have you noticed how whether you’re in the middle of a nagging recession or not, you still look for low cost creative ways for effective cross promotions.
Honestly, what serious minded entrepreneur (such as) yourself, could really afford not to stretch your already extremely limited cash resources?
Cross promotions just happen to be one of the most powerful yet non expensive, creative ways to expand your market share, by effectively leveraging another non competitive small business owner and or service providers customer base and other established marketing resources.
Cross Promotions Really Help You Stretch Your Marketing Dollars!
Case in point; suppose you run a successful local bakery. You could effectively cross promote with a local Mom & Pop family restaurant that periodically runs special promotions aimed at kids.
The first way the two of you could effectively cross promote each other, for literally pennies on the dollar, could be by strategically placing each others flyers prominently in near your cash registers.
The other way the two of you could effectively cross promote each other is by using each others special VIP “gift certificates'” , as upsells whenever one of your customers spends an additional amount of money!
Think about it for just a second, your customers are made aware at the point of purchase (in other words), right at the point that they’ve made a financial commitment, that just for spending X more extra dollars, they can get these really cool “gift certificates!’
First of all, it really adds value to their purchases and it’s a really simple way for you to strategically get introduced to potential new customers and or clients for pennies on the dollar.
Why Cross Promotions Save You Money Even When They Don’t Work As Well As You Anticipated!
Okay, let’s suppose you (reluctantly) decide to give “Mr.Marketing’s” advice a try. You go and and within the next 60 days or less, you find yourself a local non competitive small business owner and or service provider, and the two of you agree that you both are targeting the sames customer base, but for different reasons.
And you both agree to prominently display each others flyers in your waiting rooms. And you sort of test it for say 60 -90 days.
And neither of you produce any real significant results! So you decide to end it. Stop and consider what 99% of your current and future competitors are still doing! They’re blowing tons of money on outrageously expensive traditional advertising mediums such as local radio & TV ad spots.
Really expensive, cash training display ads! And guess what entrepreneur? At the end of the day, they’re continuously allocating anywhere from 15-30% or more of their marketing budget on these and other various traditional marketing mediums.
You on the other hand, have barely spend ten percent of your current marketing budget! And both of you experienced about the same results! That’s the other rarely spoke of financial advantage, to be gained from cross promotions that aren’t that successful!
Cross Promotions Will Work If You Work Them!
The other really cool way that two non competitive small business owners could effectively cross promote each other, is suppose the bakery gives the restaurant owner(s) a special gift certificate that offers each new customer two free designer cup cakes (or X), when they sign up for the restaurant’s ” birthday club for kids.”
But whenever they bring at least two new first time customers with them to the restaurant, that are over 18, they’ll get a special VIP discount coupon that entitles them to 20% off their next three purchases at your bakery! But they must use it by 60 days from the date written (or) stamped on it!
These and many other low cost proven small business marketing ideas, are just the tip of the proverbial marketing iceberg, when it comes to effectively using low cost, high powered cross promotions.
List at least two simple spin off concepts (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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