Multi Marketing: Strategic Partnerships
Marketing is all about giving potential customers information they want to know so they can act on it and purchase your products and services. Aligning your company with a complimenting business is one way you can increase sales and let your customers know you’re working for them. Often times, these partnerships benefit both businesses and don’t cost a thing to set up. For example: TurboTax and Southwest Airlines have joined forces to give both audiences a reason to be happy. If you file your taxes with TurboTax, you will get 1,000 Rapid Rewards Points, which is Southwest Airlines’ frequent flyer program. If you’re a Southwest customer, you’re already going to have to file your taxes, so why not go ahead and use TurboTax to add to your rewards points. Similarly, if you’re already a TurboTax customer, why not fly Southwest on your next trip since you already have 1,000 points in the bank? It works both ways and gets people’s attention.
On a smaller scale- and something you will see a lot of this week- is small business partnerships. My local florist, Floral Adventures, has partnered with a local bakery, NV Cupcakes, to offer their customer base something that they wouldn’t normally be able to get. Valentine ’s Day is a huge holiday for both industries, so why not give people in the area a one-stop shop for meeting both needs? If you call Floral Adventures this week, they have special package deals where you can add on either cupcakes or chocolate covered strawberries to “sweeten the deal” on your flower arrangement. This partnership gives your company something to e-mail your customers about, write Facebook statuses and Tweet about. This joining of forces will help set these companies apart from all other floral and sweet shops and give their customers a reason to come back.