Wednesday, October 31, 2007

Form a Strategic Partnership

Lindsay Polson of the stuff4business blog has a great idea, team up with another business and form a strategic alliance. To see his idea, click here.

In Lindsay's example, one business hands out appreciation coupons for a free coffee at a nearby coffee house. The business handing out the coupons pays for the printing of the coupon, the coffee house pays for the coffee. Both businesses create good will with the customer.

But it doesn't have to stop there. You can form strategic alliances to save money on advertising. For example, team up with a nearby business and purchase a billboard together. One of you takes the left side, the other takes the right side. This works well if you use the board for giving directions and both business are near each other.

There are almost limitless ideas on how to maximize marketing partnerships. Hey, who says you can't share websites?
If you have another idea, feel free to share.

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Jim said...

I've seen businesses share an exhibition stand. Where there was some synergy it seemed to work pretty well.


Jay Ehret said...

@Jim, that would work well, especially if the two businesses were complimentary.