Make your professional contacts work for you
Explore opportunities for working with other businesses within your professional network and set up joint promotions targeting customers in your market.
Introduce reciprocal agreements with fellow businesses whereby you offer to publicise their products and services to your customers in exchange for doing the same promotion of your products or services with their customer database. Everyone appreciates a good recommendation and this is at the very heart of good business networking practice.
Choose business partners that sit well with your products or services e.g. if you are a children’s party organiser then partner with a children’s toy outlet or clothes shop to run joint promotions.
By cross-selling and referring in your products and services you can produce a large number of sales for a very low cost. This could be as simple as offering a 10% discount to your customers who take up the promotional offer from your chosen partner. Not only will you be driving sales for both of you but you will be enhancing your customer’s experience by showing them that you appreciate them and want to give them a great deal. Everyone is a winner!