One very effective yet low-cost marketing strategy you could employ in growing your enterprise is to form alliance partnerships with non-competitive businesses is likely to area. These can be businesses that complement your business offerings or services yet they're not in direct competition along.
The first step is to consider the customer base that they serve. If their client base and your customer base are certainly one and the same and have a large overlap, then you have identified a complementary business. Like a hairdresser looking to target complementary businesses could have a look at photographers, wedding gown specialists, make-up and beauty businesses, clothing retailers, etc.
* You will need to identify as precisely that you can the characteristics of your common customers for example their age, where they live, their income and spending habits. Commence with your own (good) customer profile
* Decide which of the local the businesses you believe serve this client base
* Prioritize each of these businesses (1,2,3) based upon which one represents the most effective synergy with your business.
* Approach these companies either via letter or personally to sound your business owners.
Now of course, not all business owners that you just approach to offer this arrangement to will be open to it. But say away from six that you approach probably two or three will see the opportunity and come on board. Consider the hairdresser for example. She may run a contest with the first prize being a complete makeover.
The makeover includes a new hair style, new clothes outfit, make up, also to top it all off a glamour photo in the photographer. This photograph with an advertorial (jointly funded by all businesses involved) could be featured from your paper or applied to flyers, brochures etc.
That one competition becomes a forum for all businesses to promote and highlight their professional services and products. This is an effective and low-cost online strategy. Some pointers for successful alliances:
* Start slowly and build the connection with your new alliance partners
* Draft a friendly agreement on paper about what is expected from the alliance
* Create an agreed schedule of marketing activities, commencing having an exchange of business cards to get displayed in each businesses premises
* Progress to sharing the price of vouchers that come with all the alliance businesses
* Test great and bad your marketing efforts (exactly what is the return on investment?)
Don't underestimate the power of this simple marketing strategy. In case you are in a business that has a lot of competition (hairdressers) then forming alliances and networks with other non-competitive businesses effectively increases your subscriber base. It will also put you ahead of your competition.