Wouldn’t it be nice to expand your selling opportunities at low cost, and without hiring extra sales people? You can, when you co-market your products or services with other businesses.

When you cooperate with other businesses to jointly promote your products and services, you can reach more customers while sharing the cost. Co-marketing can also differentiate you from your competition because you can offer customers a richer buying experience. 

What got me thinking about this creative tactic was my recent visit to Donna & Co., an upscale specialty chocolates retailer in downtown Cranford.  Diane Pinder, the shop owner, knows a thing or two about co-marketing.

I had stopped in her store just before Valentine’s Day, and while making my purchase, commented on the buckets of fresh flowers next to her chocolates. She explained that teaming with a local florist enabled her to offer customers the convenience of purchasing a complete Valentine’s Day gift – candy plus flowers – in one stop.  This was boosting sales for both retailers at a low incremental cost.

Here are some pointers for effective co-marketing:

Seek compatibility.  Think about what product or service go well with what you sell – like the flowers that go with Donna & Co. chocolates. Approach those companies and work with them to develop an enticing offer like Diane did.  A note of caution: be mindful of your reputation when you seek co-marketing partners. You don’t want to have another company’s quality or customer problems become identified with you in the customer’s mind because of your association.

Keep it visible. Diane Pinder arranged the flowers next to the Valentine’s chocolates, creating an eye-catching display.  She also had a beautifully designed one-pager explaining the “complete Valentine’s Day gift” offer which she could hand out, mail or include in her advertisements.

Court referral sources.  Even if it’s not practical for you and your co-marketing partner to display each other’s merchandise or services, you can still work together.  Customers will often seek referrals to related services, so asking other businesses to keep your cards, coupons or brochures on-hand can also work to boost your business. 

If you are a landscaper, for example, make sure that the local garden supply shops have an ample supply of your marketing materials on-hand, especially as we head into Spring.

Offer a sample.  Your co-marketing partners will much more enthusiastically promote your product or service if they’ve had the opportunity to experience it for themselves.

Use more than one tactic. There are many ways that you can team with other businesses. You can work together to publish a newsletter, plan and run an event together, or share a booth at a trade show. Continued cooperation can give you ongoing access to new prospects and enhance your company’s image as it boosts your sales.

The Marketing Advantage is published monthly in Union County Voice magazine, www.unioncountyvoice.com. 

Ms. Kasprzak, principal of Advantage Marketing & Associates, is a certified management consultant who specializes in helping B2B clients connect with their customers to achieve greater sales revenues. She can be reached at LKasprzak@advantage-marketing.com or 908.233.6265.

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