A recent post I read on Duct Tape Marketing, spoke to a strategy that we have employed with great success. It is, as they suggest an underutilized strategy that can really pay off. It is particularly powerful for a small business with limited marketing dollars.
The basic idea is to partner with other businesses to cross promote each others’ products and services, creating new demand, building stronger partnerships, and gain extra exposure as you gain access to their already establish customer base.
The author, John Jantsch, shares an example of a shoe purchase he made where his package arrived with additional, unexpected gifts of a pair of socks and some snacks. These surprise, value-added gifts were provided by partners of the shoe company.
How might you use a similar approach to expand your brand reach and customer exposure?
A similar concept, and one that has worked well for us is to reach out to partners that run an annual golf tournament (or other events, convention, etc…) and offering to sponsor a hole at their tournament where at no cost to them you will give each of their guests a free item when they visit that hole. With a modest investment, you gain access to their customer base. Not only that, but you have just reached those your partners likely deem the most important and influential…that is why they invited them to their golf event in the first place.
This is a great way to gain favor with your strategic partner by helping them put on a great event by adding additional value to their guests, while introducing them to your company and offering. The ROI on such can be remarkable.
Be sure to put your best foot forward. Don’t spoil the opportunity by giving away a cheap “throw away” item. If you wouldn’t want it, use it, or keep it long term, then that is the wrong gift. Make your item useful, memorable, and targeted to the audience.
This is such a powerful, yet simple action that can pay big dividends for any business.
So what promotional gift could you use to expand your reach?