Don’t Miss The Boat, Cross-Promote
The word synergy is one of those words in marketing that gets tossed around a lot. Even though it can be over-used there is value to synergy especially among products or services that complement each other. We see these complementary combinations at our local grocery stores every time we walk in. For example, when your favorite beer teams up with your fave chips and salsa…yum. Synergistic products or services create a great opportunity to cross-promote!
For marketing companies like us who specialize in consumer goods, having a portfolio of a variety of products (5 at the time of this article) allows us to team-up and conquer the market driving impressions and creating sales among our brands. This marketing collaboration or cross-promotion allows us to share media resources and brand names. Reaching potential new markets and building solid business partnerships.
So what should you look for in a great easy cross-promo? Well, start with the basics. Does the product/service you want to cross-promote make sense with your product? Think of things like complementary flavors, geography and price-point. Buying Ole Avocado Guacamole, a client of ours, would be great with fajitas. A customer would be enticed with that offer because it makes sense and it’s delicious! Another example is purchasing gasoline and receiving free coffee at that same location. What a nice gesture and you get to try the coffee!
Another way to determine whether a cross-promotion will work for your product/service is evaluating the weight or value of your brand versus your cross-promoting partner. This can be challenging and can at times cost you money. However, if you are a small business working with other small businesses this could just cost man hours. But let’s say you are crossing with a mega-brand that has loyal customers who fit your exact target! That might be worth the exposure and extra money. Or let’s say you’re the mega brand. You’ve got the loyal following but you feel that crossing with a complement will provide your customers an incentive to remain loyal. Finally, both brands might be even-steven. This is when both agree to promote evenly placing equal amounts of energy and resources to ensure a successful promotion. How ever you slice it at the end, do what it takes to create a fair and profitable promotion.
The third thing to think about are communication channels. So you are now cross promoting with Super Chips! But how will your customers find out? How will their customers find out? For this truly to work as a great cross-promotion both companies must be cross-promoting! The larger company will be able to afford BIG TIME media. We’re talking TV, radio, billboards, digital ads, etc. For the rest of us, it’s time to be creative! Consistent postings to social media sites is a great start. Flyers to existing customers to tell their friends would also be swell. The most important thing to remember is that all parties should kick in some support. After all, cross-promoting needs team work to pick up sales!
For any business small or large, cross-promotion should not be thrown out with the bath water. Think about whether it accomplishes your business objectives and if it does go for it! Always remember the best marketing tool you have is your enthusiasm and creativity! So get out there and MAKE A MILLION!
- Adam’s Extract & Spices Team Up With ALAMO Golden Ale
- A great example of cross-promoting is when we were able to combine ALAMO Golden Ale with pasta sauce using Adam’s spices. The pasta sauce recipe was placed on a recipe card with complementary spices for runners to create the dish of course the magical ingredient was ALAMO Beer! ALAMO Beer participates in several runs throughout the region. This combo did two things: Gave ALAMO Beer another way to connect to it’s customers and gave Adam’s a new direct channel to area runners. Click here to see the video.
- A Little Cross Promotion Etiquette (hubspot.com)
- 4 Ways to Grow Your Business with Local Parternships (grasshopper.com)