Let’s start with that phrase that we’ve all had drilled into our psyche by now: We’re living in unprecedented times. And with that comes the need to do things a bit…differently. Let’s talk about collaborative marketing.
Collaborative marketing is when two or more businesses team up, create something and cross-promote to help each other grow. Think about a cafe partnering with your salon, whereby customers can order their chai latte directly to their treatment room. In return, that cafe can promote services within your salon, encouraging their customers to try their next cuppa while getting a pedicure, for example.
In general, this isn’t a paid arrangement between businesses – rather an understanding that in these – ahem – unprecedented times, small businesses need each other and can help each other out.
Rather, businesses can leverage what they already have — social media communities, email lists, products, services, skills, time, venue spaces, channel promotion, publicity opportunities or resources — in order to establish a win-win exchange of value for both businesses.
Teaming up gives you the opportunity to double your marketing reach without additional spend.
In fact, The American Express Business Collaboration report indicates that Australian mid-sized companies typically see sales increases of over $430,000 or savings of over $319,000 thanks to business collaborations.
Key is ensuring you partner with a relevant brand. “In order to do that, you really need to define who your customers are and what they value,” says marketing expert Hannah Simone. “Examine businesses in your network, in a close physical proximity to yours, and have a meeting with them. If you can both come to an understanding of how such a team-up would benefit you both, it really shouldn’t be a hard sell.”
Visit the #BEAUTYSTRONG hub at https://www.professionalbeauty.com.au/beautystrong/
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