Maximize Ad Dollars with Co-Operative Advertising Programs
So you’ve got a great product or service, now if only people knew about it! Surely you could sell it like there’s no tomorrow. It’s time to get the word out. Unfortunately, advertising is expensive. But there is a cheaper way. By teaming up with complimentary merchants or service providers, you can cut your ad costs in half, or more. Cooperative advertising programs, also called co-marketing, can increase your visibility and reach a whole new section of the market, sometimes even for free.
Instructions
1. Identify products or services that compliment your own. Some things just go together, like peanut butter and jelly or bacon and eggs. Look for products or services that match well with your own, yet are not competitive with your products. Be creative, the combinations are endless. A baby clothing boutique and daycare service? Sure. A landscaper and a housepainter? You bet. A Realtor and a Mortgage Broker? Of course. A pizza shop and a weight loss clinic? Probably not.
2. Choose the first target. For example, let’s say you sell furniture. People buy most of their new furniture when they refurbish, remodel or buy a home. Who sells homes? Real estate agents. So open the local phone book and start looking at real estate agent ads. Find a few that you like. Gather as much of their marketing material as you can.
3. Create a mockup. Using the look and feel of your target partner’s best ads, create a simple one page flyer that highlights their home sales and your furniture. Draft quality is fine, but make sure it looks good and prints in color.
4. Visit your target partner. It’s always best to do this in person. Go to their office or find them at an open house. Show them your flyer and engage them in a conversation about the benefits of co-marketing.
5. Swap web ads. If you both have websites, you can post each others ad with a link to each others website. The best part about this tactic is—it’s free!
6. Be persistent and positive. Be prepared to make a lot of visits and follow up calls to your potential partners. Always be courteous and professional. Develop and maintain a solid reputation as a punctual, positive and professional partner.
