Your Local Business Plus Joint Venture Partners Or Cooperative Advertising Equals More Business
Your local business exists in the community instead of in a vacuum. If you accept that & choose to work with similar businesses you will prosper. See how below.
Let’s say you work as a wedding planner. Here are some of the businesses that you could potentially refer business to and that could potentially refer business to you:
- wedding photographer
- tuxedo rental shop
- wedding gown supplier
- laser hair removal specialist
- travel agency
- reception Hall
- limo company
As a wedding planner, you interact with your clients and help guide them towards the perfect wedding day as they visualize it. During your conversations with your clients, you may or may not recommend one provider over another for certain services because of price, quality or both.
If you and the vendors that you recommend get to know each other and actively cross promote each other, both of your businesses will benefit financially.
Depending upon their budget, your client may or may not use all of the services that I mentioned above.
For most couples that are getting married, many will use at least 5 or 6 of the services that I mentioned.
If you take the time to build relationships with vendors the complement your business, you will find out which ones do good work, provide good customer service and that you actually like.
Once you have a list of good vendors that you like that complement your business, you can recommend the exchange of business cards so that you can promote each other to your respective customers.
Each vendor has their own customer base and they may get engaged couples inquiring about their services without the aid of a wedding planner. If you’ve taken the time to develop a relationship with these professionals, they can use the relationship they have established with the customer to recommend your services.
You can choose to work alone instead of building relationships with businesses similar to yours but if you do this you may need to spend more money on advertising to grow your business.
When you become part of a community of businesses that help promote each other by handing out each other’s business cards, by sharing the cost of flyers, by sharing other advertising costs, by holding educational events that will inform many of your potential clients as well as those services offered by your cooperating vendors, your group will be creating educated consumers in a nonthreatening environment that may make it easier to convert them into customers in the future.
Last 5 posts in Marketing
- 4 Ways to Grow Your Business Through Referrals + My Thoughts - October 14th, 2017
- Why Retargeting Works And Why You Should Use It - October 13th, 2017
- 3 Ways To Stretch Your Online Paid Advertising Budget - October 7th, 2017
- You Need These 4 Things For Your Business Online Reputation - September 23rd, 2017
- Are You Continuously Building Your Online Reputation? You Should Be - September 16th, 2017