What are the best ways to collaborate with another small business on a marketing campaign?

As a marketing consultant for local businesses I'll actually tell you it's even easier than this. Local consumers tend to be a pretty concentrated market segment. Even if you're a bakery you can do a cross promotion with a dog grooming business- as long as they are locally owned and branded. There's high odds that the people who prefer a locally owned dog groomer will also like to support a locally owned bakery. I'll also add don't shy away from collaborating with 'direct competition' one of the beautiful parts about local consumerism is that we don't mind sharing the spotlight because we are all part of the same community.

Suppose you are in the fashion industry. Find someone who is in skincare or even personal grooming. Both industries are serving the same type of customers. Try to leverage each others’ database and online presence. To launch a campaign that is beneficial for both.

Define Goals: Clearly outline the objectives of the campaign. Open Communication: Maintain regular and transparent communication. Leverage Strengths: Utilize each other's strengths and resources. Shared Vision: Ensure both parties are aligned on the campaign's direction. Clear Roles: Define roles and responsibilities clearly from the outset. Flexibility: Be open to adapting strategies based on feedback and results. Measure Results: Track and evaluate the campaign's effectiveness together. Mutual Benefits: Ensure the collaboration is mutually beneficial.

Collaboration goals: 1. Leverage on each other's base? 2. Explore a new customer base together. 3. Cross branding awareness? 4. Share resources for long-term operational planning. 5. Partnership for potential buyout? Those are just a few to consider

Setting realistic and clear goals and expectations is so important in collaborations. Without them, a potential partnership could easily be one sided. And, they can be a powerful way to share audiences, find new community and connections and add revenue if that is the goal.

Brand awareness or first time purchasers should be the two main goals you consider for a cross promotional campaign. Either grow your audience and then have a plan to nurture then influx or incentive a new customer to purchase with a discount or limited time offer, again with plans to bring them back and develop them into a returning customers.

Crafting a joint value proposition is vital in showing off the mutual benefits in a partnership, which the cornerstone of successful small business collaboration! For instance, a bakery and coffee shop partnership could highlight a joint value proposition like "Indulge in a delightful breakfast featuring freshly baked pastries paired with premium coffee, all at a special price." This unified message not only attracts customers but also fosters consistency and effectiveness in marketing!

Several options here but here are a few that are tried and true: Cross-promote each other's products or services through various marketing channels. This could include social media posts/tags, email marketing, or joint promotional events. Develop a co-branded marketing strategy where both businesses are prominently featured. Develop exclusive offers or discounts that are available only through the collaborative campaign. Collaborate on content such as blog posts, videos, or webinars. This helps showcase both businesses while providing valuable content to the audience. Host joint events or webinars to engage the audience. This could involve panel discussions, workshops, or presentations that highlight the strengths of both businesses.

No. Use whatever channels you usually use. You're a small business, you're busy and overwhelmed already. You don't need to optimize a cross promotional campaign. Just make it efficient by using your normal channels and invite your current audience into the experience, as well as the audience of your cross promotional partner. Don't make this more difficult then it needs to be.

There are a few ways to consider how this can be done 1. Offer a discount if your customer purchases a product/service from your collaborator. Ex: suppose you are a gym owner; by mentioning your gym name, he can get a specific % discount on protein or supplement from your collaborator company 2. Special membership if customers try both of your company services. 3. Leverage each other customer data to find out where your target customers like to hang out. Market toward this group together

Clear Communication and Expectations: ? Effective communication is crucial for the success of any collaboration. ? Clearly define roles, responsibilities, and expectations for each party involved in the collaboration. ? Establish regular communication channels and schedules to keep all stakeholders informed and updated on the progress of the collaboration. ? Encourage open and honest communication to address any issues or concerns that may arise during the collaboration.

Shared Goals and Values: ? Before entering into a collaboration, ensure that both SMEs share similar goals and values. ? Collaborations work best when both parties are aligned in terms of their long-term vision and objectives. ? Discussing and clarifying these shared goals upfront can help avoid conflicts and misunderstandings later on.

Choose a direct competitor - Bear with me. Why? Done correctly, you can virtually eliminate your cost per acquisition and it's possible to be paid to acquire customers. How? Most leads do not convert. What do you think the buyer does? They go to your competition and buy from them for whatever reason. Control your pride and monetise your expense by offering your prospects a list of your competitors. Get an agreement from your peers and if referral fees are frowned upon, get a partnership manager to ensure unconverted leads flow in both or all directions. Be ethical and play nice. Result : Lower ACAC, new profit centre(s), increase ad budget, preserve cashflow. CTA: Piqued your interest? DM me for a friendly chat.