Marketing Synergy: Team up with Other Brands to Grow your Business
Alexis Quintal | Rosarium PR & Marketing Collective | KNOW Tampa Bay
You’re trying to grow your business and want to explore advertising. But the options can be expensive. And if you’re on a budget, the thought of putting too many eggs in one basket can stop you in your tracks.
Why not take a lesson from the Super Bowl? Yes, the Super Bowl.
Major brands have been getting more bang for their buck by teaming up to create ads for the big game. The result is three-fold:
- Increased exposure — More people get to see a company’s brand than if it only had timeslots it could afford independently.
- Reduced cost — Diversifying over a number of shared touchpoints may often be less expensive than going it alone.
- Decreased risk — By spreading exposures out over a longer period of time, there’s less of a chance they’ll miss the mark with viewers who will occasionally hop on their phone or leave the TV area for a tasty snack.
Can it work for you?
Absolutely! I’ve done it myself in my own business — teaming up for giveaways and tradeshow conference booths just to name a couple of examples. The results were fantastic.
I grew my marketing lists and expanded my reach and engagement on social media channels. I also increased brand awareness among prospects who never even considered they may be interested in my company’s services.
The key: Scale your efforts and expectations
Every business is different. So carefully consider your goals and budget, and use your imagination to come up with a list of companies that compliment your own. For instance, if you run an interior design service, you could pair well with a real estate brokerage. Wedding planners may want to team up with a hair salon. The synergy is important.
Then it’s time to flex your networking skills. Reach out to other entrepreneurs, and brainstorm some creative ways you can help both of your businesses grow by tapping into each other’s audiences.
Not every effort or partnership may work, but if you apply things you learn to every next opportunity — and you keep moving forward — I can’t imagine you won’t be delighted with the results.
After all, if it works on the grand stage of a world championship game, it can work for an entrepreneur like you!
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