Strategic/Creative Alliances can be instrumental to small business success. In today’s environment of steep competition, consumers are overwhelmed with many options. The old adage “there is strength in numbers” prove true and profitable when you connect with the right strategic/creative alliance. In light of the benefits, you may consider co-branding or co-sponsoring a campaign or event with a complimentary business which has similar goals to yours.
1.) Increase your marketing power and get exposure to a new audiences. Your new alliance will likely have access to people you do not.
2.) Two heads are better than one. You and your fellow entrepreneur can combine your talents to capitalize on the opportunity and earn a significant return on your efforts.
3.) Share expenses and minimize risk. When budget is in the forefront of your mind strategic/creative alliances can help you save money because you may end up sharing the financial investment as well as any possible challenges that may occur.
4.) Stand out in the the marketplace, distinguishing your business from your
competitors. People tend to take more notice if you are presenting a common
product or service in a different and unique way. Innovative strategic/creative
alliances certainly helps your business say, “Look at me!”
A few examples of Strategic/Creative Alliances include a Nutrition Store partnering with a Fitness Center, a Wine Speciality Store hosting an event with an Art Gallery and a Women’s Boutique can co-branding with a Hair Salon or a Women’s Gym. Take the challenge to try new marketing approaches for the new year! Who can you think of in your geographic area or network that will enhance your marketing presence and truly make an impact on your business?