Cross promotion is a specific marketing tactic when two or more businesses collaborate or team up together to reach a larger audience.
As an example, a dry cleaner may team up with a carpet cleaner.
Or a school system may collaborate with an entertainer or magician.
How about a CPA teaming up with an Estate Attorney?
When done right a cross promotion is a win-win deal for the businesses and their customers.
Here are a few benefits of doing cross promotions
- Cross promotions, add to your client list buy connecting with your partner’s clients.
- Cross promotions save you time with a division of labor
- Cross promotions save you money by splitting the expenses, thus reducing your market planning and costs
- Cross promotions increase your exposure because each business is marketing for the other at once.
- Cross promotions carry an implied endorsement. The client already is doing business with your partner and will trust his/her recommendation.
- Look for complementary businesses to team up with that have the same target market as you. Approach them with you cross promotion idea and offer that they would be foolish to refuse.
- Try a small cross promotion first. Get the feel for how they work. When successful, it will be easier to approach the next business to team up with because you will have a proven success record.
Always show your appreciation to all that participate. This includes everyone involved and any business that contributed services.
Cross Promotion Budget: $500 - 2,500 quarterly