BizNet OnLine Magazine, Cross Promotions ......Another Form Of Networking.....

Cross Promotions ......Another Form Of Networking.....

Please Visit Our Sponsor

Most of you know that networking is a great way to promote, build and expand your business. But when it comes to different forms of networking how many of you think of Cross-Promoting as a form of networking?

You all should! All Cross-Promoting is, is business "A" promoting business "B" and visa-versa (and after all doesn’t a big part of networking involve having other companies knowing about and promote your company [as you do for their company]).

The big difference between true Cross-Promoting, and networking, is that Cross-Promoting is more direct, deliberate, and focused. It is therefore a lot more productive than just good old fashioned networking.

I’ll bet most of you have been Cross-Marketed to and don’t even know it! One of the most common tools for Cross-Promotions is Billing Inserts. You know. You open your credit card bill and there are advertisements enclosed for this offer or that offer. That my fellow business owners is Cross-Marketing.

So how do you Cross-Market your own business? First look at your target customer. Develop a "profile" of your typical customer. Look at things like age range, interest, location, income, etc. Those factors, are the demographics that make up your target customer. The idea is to look for individuals that fit the demographics you are looking to market to (the people statistically most likely to use your goods or services).

So how do you find these people? You can higher a professional research service, or obtain a targeted mailing list (both expensive, but effective) or you can Cross-Market/Promote your business.

Cross-Market, O.K., but how do I find another business to partner up with?

Again start by looking at "what" is a good customer for you (the demographics); then look for a company that needs the same type of customer, but is involved in a different business than yours. Once you find that business you can Cross-Promote each other using billing inserts.

In selecting a partner business don’t forget to check them out, etc. ... after all you are exposing your customers to this business. You don’t need the backlash if the business you partnered with has bad business practices.

I think I get the idea, but can you give me more of an example?

Let’s say you’re in the Security Business. You offer the installation and monitoring of residential fire and burglar alarms. The first thing about your customer base that stands out is that your customers are concerned about safety! In fact, this is probably the biggest factor in why your customers want your services. So, the best prospects for you are consumers that are concerned about safety, etc; (you know, things like peace of mind, protection of their property, protection of family members, and so on).

So, can you think of other business that would share the same customers?

How about an insurance salesman (he is selling peace of mind and financial protection), same for a law office that sets up Trusts and does Estate Planning. What about a Locksmith? Think about it. Why do people buy locks! Now you’re getting the idea.

O.K. It all sounds good, but I really do not want anyone to have a "Mailing List" of my customers!

Never give anyone your customer list! One of the greatest things about Cross-Marketing with billing inserts is that it is low cost and low risk.

You provide your ‘Marketing Partner" with billing inserts about your business, and he provides you with inserts on his business. You both then just insert the information into your monthly mailing of bills to your existing customers. All of your customers get his information, all of his customers get your information.

Your partner never sees your mailing list. As for the postage, if the billing insert is designed right, the mailing cost of sending out the monthly billing will be the same whether there are inserts in them or not. So, the cost to each partner is limited to the cost of supplying the insert information.

Now start thinking about your business and your possible Marketing Partners. Yes I said partners. No one said you can’t put in more than one insert into each mailing.

Be A Famous Writer
Submit An Article

BizNet Magazine Supports:

Because It's The Right Thing To Do.

If You Entered This Page Through a Search Engine Or Any Other Framed Website Click Here To ReturnTo BizNet Online Magazine