Newsletter
February 2022 Newsletter
Small Business Marketing Tips for Collaborations
If, like many small businesses, you are looking for ways to bounce back from the hardship of the past two years, focusing on your marketing plan is a good place to start. In 2022, marketing collaborations are high on the list for creating brand awareness and increasing potential sales. If you are looking for ways to do this with minimal risk, and minimal budget, brand collaborations with other small businesses is a great way to test the waters.
Let’s explore why this strategy works and how.
Firstly, a collaboration is not the same as a partnership. A partnership alludes to a contractual relationship between two or more partners. A collaboration involves cooperation in which two or more parties enter in some sort of marketing activity together without necessarily being contractually bound.
Examples of small business collaborations:
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Create Product Packages (can include bundled services or product packages for seasonal events or promotions)
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Cross-promotion and support on social media platforms
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Giveaways run via social media, email marketing or in store
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Plan or co-host an annual event for clients, customers or staff
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Create cross promotional material, such as branded merchandise and apparel.
Who could you potentially collaborate with?
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Businesses within your industry who provide a complementary service
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Businesses you admire with a similar target demographic
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Businesses in a similar location – warehouse, office or shopfront nearby
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Businesses you currently work with or refer clients to.
Low Barrier to Entry
To collaborate with a like-minded company can cost you very little – or nothing! If, for example you want to partner with a tradesperson in your industry on a referral basis, a verbal agreement can help increase sales and awareness simply by word of mouth.
When it comes to social media, sharing each other’s handles, products or promotions, are great for expanding your reach. Sharing, liking, and commenting on other’s social accounts costs zero dollars, and takes very little time. Tee up with a likeminded brand and start small. This could lead to joint offers, competitions, and giveaways – once again, a very low cost for a marketing initiative which can return great results for a mutual benefit.
Increase Brand Awareness, Business Validation and more
Leveraging off another brand whose audience may be interested in your services or products is a smart marketing move. The collaboration should provide a mutual benefit of course, so it’s important to approach another small business with a similar following as you. The goal should be to push your mission forward with the validation, stability, and support that the partnership of another brand or service can provide you with.
Collaborating with likeminded businesses can be hugely beneficial for growing your audience, increasing brand awareness, and boosting leads and sales. If you have a small business in mind, with aligned business interests, consider approaching them for a discussion about the benefits of small business collaborations. As a starting point, this activity proposes minimal risk and no initial financial outlay – ideal for start-ups, small businesses and those looking to expand their marketing efforts in 2022.