| |
| |
|
Marketing Resource Center |
|
|
|
Tie-In With Others To Maximize Your Business Leverage
One of the most rewarding, inexpensive, under-used, and effective methods of marketing is to tie in your marketing efforts with the efforts of others. The cost of acquiring a new client or customer is enormous. The average business will spend thousands of dollars in marketing, sales, and advertising to build goodwill and develop loyal clients or customers. Most businesses spend their marketing dollars to reach a large audience, and yet they're only going to get a small fraction of this audience. By tying in with other businesses you can eliminate a lot of expense, time, and inefficiency in prospecting, and spend the majority of your valuable time and money on people who are ready to buy. You can do this by developing a tie-in relationship with another business that has already spent the time, effort, and marketing to attract the same customers who you would like to have. This type of relationship is beneficial for both your business and the business you are tying in with. It works like this, company A either controls, owns, or has developed client lists that company B wants to utilize to buy its products or services. To create a tie-in relationship with another indvidual or company you need to identify all similar businesses, professionals, organizations, and even competitors who are in a position to control (or enjoy a favorable relationship with) viable prospects for your product or service. Naturally this works best if both your businesses are in some way complimentary. But this is not necessary. The most important thing is for each of you to help cut marketing costs for the other while at the same time increasing your marketing. The best way to do this is to approach each targeted business to allow you to act as the beneficiary and solicit the host's customers in return for a share of the resulting profits. Once this is done, there are three things you should do to maximize the profit for you and the host: * Get the owner of the host company to write a letter of endrosement recommending your business and specific product or service to their customers. In return, the host receives a generous share of the profits from the deal. * Get the host company to continually promote all your products or services to their customers even after the host has sold all the products or services they can. * Get the host company to let you offer their products or services to your customers on a profit-sharing basis. You will discover a whole world of tie-in possibilities by simply walking the commercial business streets in your community. You'll find many other tie-in possibilities by looking on the internet, in the Yellow Pages, the local newspapers, or by watching television. As you might expect, the deeper the tie-ins, the greater the greater chance there is for profit. Having someone put a pile of your brochures on their counter or putting an affiliate banner on their Web site is one thing. But having them actually recommend your business is much stronger. Every one ends up gaining in a tie-in relationship: the customer learns of a new place to buy whatever you sell, you gain, and the host business gains. Most importantly is that all this gain takes place at a much reduced marketing cost for both businesses. All contents Copyright(c)2005 Joe Love and JLM & Associates, Inc. All rights reserved worldwide. All trademarks are the property of their respective owners. Joe Love draws on his 25 years of experience helping both individuals and companies build their businesses, increase profits, and achieve total success. A former ad agency executive and marketing consultant, Joe's work in personal development focuses on helping his clients identify hidden marketable assets that create windfall opportunities and profits, as well as sound personal happiness and peace. Reach Joe at: joe@jlmandassociates.com Read more articles and newsletters at: http://www.jlmandassociates.com/
MORE RESOURCES:
Marketing - Google News |
|
|
|
RELATED ARTICLES
Client Attraction Technique #1: Niche Marketing When asked "what business are you in" many business owners often identify an industry, for example, "I'm an accountant" or "I run a beauty salon " or "I own a restaurant." But claiming to be part of an industry is not what attracts customers. Marketing Strategies: What Choices Do You Have? Most business people want to see improvements in sales and profits. But how do you get there? What choices do you have?To build your business there are four strategic options that must be considered:1) Sell existing products to existing customers. Why Do They Buy? A recent issue of Entrepreneur magazine included a marketing story with five important questions all business owners should be able to answer about themselves and their competition.Understanding these five critical areas will help you better develop and implement your marketing plan, and sell more to your customers and prospects. How to Discover your Primary Market and Where to Find Them Whether you market online or offline, you already know the shot-gun approach to marketing brings few results. You will sell more products and services when you step back and set up a strategy to reach your targeted market. How to Magnetize Your Business Do you ever wonder how some businesses always seem to be doing so much business? And how they seem to do all that business without really trying that hard? Most of us would like to have business come to us, rather than chasing it. Think of a magnet - pulling business towards your company, effortlessly and naturally. Getting Paid to Promote Yourself We all know we can pay a magazine or a newspaper to run ads for us. Businesses do it all the time. Your Elevator Speech - Have You Updated Yours Recently? Do you have an elevator speech? Does it get people's attention? Do they ask you lots of questions when you tell them what you do?Every great elevator speech needs to answer these key questions:1. Who am I? (introduce yourself)2. Meaning and Marketing - The Hurricane I step outside my back door and look at some large limbs lying on the ground. They are all dead. Four Super-Deadly Marketing Sins - And How To Fix Them It seems nowadays every marketing guru and their brother-in-law has a "deadly sins and how to fix them" book, ebook or at least an article! But apparently nobody is reading this stuff! How do I know? Because nine out of every ten businesses continue making the same marketing goof-ups. The most amazing part is - they are convinced their marketing is great and their phone will be ringing off the hook any moment now! Time for a reality check! Are you guilty of these four marketing sins? Find out how to fix it! Deadly Marketing Sin #1Not Standing Out From Your Competitors You want to be one in a million not one of the million. Private Practice Marketing: 3 More Secrets I Wish I Knew When I First Started Out Secret #4 - Get very comfortable asking for paymentOne of the easiest ways to set this up is to have very clearexplanations in your intake forms about how payment works.It's your job to train your clients how to pay you promptly. Ten Breakthrough Marketing Ideas Ten Breakthrough Marketing Ideas1. Create a directory of web sites on a specific topic. 7 Cheap & Easy Ways To Get Prospects Here are some quick techniques you can put into place on your web site or in your advertising to gather new prospects. There is practically no cost for most of these strategies yet they have proven to be extremely effective in any number of different venues. Increase Your Profits Through Customer Loyalty The job of convincing your existing customers to spend higher and more often can be an extremely tough task. There are many ways of achieving customer loyalty. Direct Mail Response Rates Mislead if You are Careless I could tell you that the average temperature in the world is 60 degrees Fahrenheit. But that fact wouldn't keep you from getting sunstroke in Cairo. You're In Charge. Now What? For years now, you have been waiting patiently for that first opportunity to be put in charge of a group and show what you can do. It has finally happened. Business Cards and Business Etiquette One of the very basic conditions of being a successful businessman is to get people (your existing or prospective customers) to like you and a very basic requirement for being liked by people is to have proper business etiquette. We all like to be in companionship of well-cultured people and etiquette is one of the most important components of culture. Top 7 Tips for New Businesses The marketing decisions you make for your new business are the most important part of making your business a success. Marketing is about building a strong presence, name recognition and credibility through various methods. Six Ways to Boost Response on Your Surveys and Gain More Useful Information So.. Why Great Companies Survey: Martian Logic! If an alien civilization from Mars was planning a friendly takeover of our planet they would seek to make sure they understood our way of life and our way of thought.The only way they could accomplish their objective would be by asking questions which they could genuinely understand and then plan a strategy accordingly. You Must Get Going If You Want To Get Growing For many of service-based businesses out there, it's not that you don't know you should be marketing or don't want to get better at it. It's just that you don't.
|
| home | site map | Advertising Articles |
| © 2006 |
