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30 Mar 2016

Exitus Lifestyle
One extremely effective yet low-cost marketing strategy that one could employ in growing your enterprise is to form alliance partnerships with non-competitive businesses in your own area. These can be firms that complement your business offerings or services yet they're not in direct competition together with you.

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The first step is to look at the customer base that they serve. If their customer base and your customer base is one and the same or have a large overlap, then you have identified a complementary business. For instance a hairdresser looking to target complementary businesses could examine photographers, wedding gown specialists, make-up and wonder businesses, clothing retailers, etc.

* You'll want to identify as precisely that you can the characteristics of your common customers like their age, where they live, their income and spending habits. Start with your own (good) customer profile

* Select which of the local the firms you believe serve this usage

* Prioritize each of these businesses (1,2,3) in relation to which one represents the best synergy with your business.

* Approach these firms either via letter or personally to sound your business owners.

Now obviously, not all business owners that you simply 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 possibility and come on board. Consider the hairdresser as an example. She may run a tournament with the first prize being a complete makeover.

The makeover includes a new hair style, new clothes outfit, make up, and also to top it all off a glamour photo through 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.

This competition becomes a forum for all those businesses to promote and highlight their professional services and products. This is an effective and low-cost web marketing strategy. Some pointers for successful alliances:

* Start slowly and build the partnership with your new alliance partners

* Draft an informal agreement on paper to what is expected from the alliance

* Create an agreed schedule of advertising activities, commencing having an exchange of business cards to get displayed in each businesses premises

* Progress to sharing the expense of vouchers which include all the alliance businesses

* Test the strength of your marketing efforts (is there a return on investment?)

Don't underestimate the power of this simple marketing strategy. If you're in a business that has a lot of competition (hairdressers) then forming alliances and networks with other non-competitive businesses effectively increases your usage. It will also put you before your competition.


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