March is finally here and at last the weather is starting to feel like Spring! Why not take the opportunity to give your marketing strategy a spring clean? Partnership marketing for small businesses is a key tool within that mix to consider. At Rimu Marketing we talk a lot about Evaluating your business, Building a plan to take you there and then Implementing that plan. However, it is essential to make sure you understand what activity is working for you and what is not, simply, do more of the stuff that is and less of the stuff that isn’t.
Partnership marketing for small businesses is one area which very often gets overlooked, but could be very valuable. Start by thinking about what complimentary businesses could you work with to increase your reach? How could you speak to an ever wider and relevant target audience? For example if you are a florist could you work with a wedding dress supplier, cake maker or photographer and feature in some of their marketing, if you are keen to build your business around weddings. If you are a beauty therapist why not work with a hairdresser to offer a top to toe beauty package.
Partnership marketing is a more results focused version of sponsorship, although obviously without the multi-million pound investments (I am thinking spec savers sponsoring the premier league referees as I write, and smiling), it can be really simple and very effective in driving your business. 5 key things to think about are:
- Objectives: The starting point for any partnership marketing activity, is to define what it is you would like to achieve in working with another business. Is it to increase your reach, enhance your product offering, etc.
- Find a relevant partner: Ensure that whom ever you choose to work with, their business is complimentary.
- Plan: Build a plan to ensure that you both benefit from the activity, which could include – a promotion with email marketing, on social media channels and in person at network events.
- Offers: What exclusive offers could you offer to your partners’ audience to help drive a to response eg: a joint offer.
- Remember to analyse the response – is this working for you? Ensure you have clear metrics in place to understand where your business has been generated from and simply, did it work
Partnership marketing for small businesses should be part of your marketing mix, it works better along side other activity.
For help in setting up a partnership please get in touch with us to arrange your initial consultation.