Small Business Trends has an article by Kare Anderson on the growing trend for businesses large and small to partner together to reach common customers.
“It reflects a growing trend of organizations joining forces with others who serve the same kind of consumer. Together, they have discovered that they can act quickly to offer extra value, convenience or other stand-out benefit.”
How does it work? Here is an example of two businesses partnering to reach the same customers while spending fewer total dollars:
“T-shirt designer Tami Minatelli was able to exhibit at nine street fairs this summer without paying for her booth space. A new manufacturer of a unique, no-stain suntan lotion paid for Tami’s booth.
“Why? Because she wore their lotion and her T-shirts, with a sign above her head, describing her original painting-on-cotton method and the lotion’s ‘do no harm’ guarantee. Next to burn protection, that’s the biggest concern of people who use suntan lotions.”
It is a great tool for bootstrappers who want to get the most out of tight marketing budgets. And, both partners win by saving money, enhancing their messages with the possible synergy of each others’ product or service, and by reaching more customers.
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