How to Work with Other Small Businesses to Boost Sales

We’ve all been told the importance of networking when it comes to our careers, and it turns out networking is just as vital and effective for brands as it is for individuals. As a small business, you’re looking to expand your network of customers so your company can grow and prosper. One effective way to do that is to cross-pollinate your current customers with the customers of other brands. It’s a win-win for all parties involved. So how do you do that? By forming a partnership with one or more brands that compliment yours.

 

What is a brand partnership?

Put simply, a brand partnership is a collaboration between two or more brands to create and/or promote a product or service. Typically, the brands in question compliment one another in some way or have a similar target consumer, but that’s not always the case. Brand partnerships can take many forms and involve different approaches to promotion. Some big-time examples include Nike and Michael Jordan, GoPro and Redbull, and Target and Lilly Pulitzer. Though major brands have plenty of marketing funds to make big brand partnerships and product collaborations a reality, small businesses can scale this approach down and get creative to form collaborations with one another that help build both parties up. We’ve put together 5 ideas on how you can do just that.

 

5 ways to work with other small businesses to boost sales:

1. Social Media Collaborations

In the digital age that we find ourselves in, social media has become the low-cost marketing platform of choice for many budding businesses. It’s a way to put your product or service in front of the eyes of people all around the world at the click of a button. But building a following and customer base through social media can be a daunting task for new brands fighting to stand out in the crowd. One way you can team up with another small business to increase your following and customer reach is to collaborate on social media content creation. Perhaps that means teaming up with a social media influencer by sponsoring their content creation in exchange for them promoting a product of yours that aligns well with his/her personal brand and the content they create. Or perhaps it’s as simple as two brands promoting each other’s products or services on their respective social media platforms in a fun and engaging way, doubling their audiences and reach. A brand that sells organic blankets and bed linens, for example, may share information with its social media following about a brand (that they’ve partnered with) that creates eco-friendly mattresses. In return, the mattress company would recommend the bed linens company to its social media following as a perfect pairing for their eco-friendly mattresses.

 

2. Co-Hosted Giveaways

Giveaways are a fun and effective tactic for drumming up interest in your company’s products while increasing brand awareness. You can double your giveaway’s impact by teaming up with another small business to enhance the gift package being given away while also reaching more customers. Co-hosted giveaways can be held in-store, on social media, or both.

 

3. Co-Hosted Events

Similar to co-hosted giveaways, teaming up with another small business to host an event is another great way to cross-pollinate your customer bases for mutual benefits. These events can be held online or in-person. Some ideas include hosting a webinar, a special joint-sale, an open house, or a charity event. When planning what your event will be and what type of company you should partner with to host it, consider what your brand can bring to the table and which companies might compliment that. Have fun and get creative with your co-hosted event.

 

4. Featured Blogs or Newsletters

     One method of driving customers to your website while promoting your brand in a way that builds customer trust and engagement is to publish blog articles and newsletters focused on your area of expertise. You can also use these blog and newsletter platforms in your brand partnership strategy by publishing featured blog articles or newsletters for one another. For example, a handbag brand looking to increase its customer base may write a featured blog post for a shoe brand instructing readers on how to choose the right handbag for any outfit. In return, the shoe brand might write a featured blog post for the handbag brand instructing readers on how to choose the right pair of shoes for any outfit. In each of these cases, the brands offer expert advice for each other’s following, helping to build their respective brand’s legitimacy and awareness.

 

5. Product Bundling

Product bundling is another great way to work with a complimentary brand to boost sales and brand awareness for both parties involved. Consider what products or services pair well with the products or services your brand offers. For example, a company that makes and sells wine may team up with an artisan cheese company to offer a special gift wine basket that includes artisan cheese. And on the other end, the brand that sells artisan cheese may offer a special cheese bundle that includes a bottle of wine. From this partnership strategy, wine customers who might not otherwise have heard of the artisan cheese brand have now been exposed to it, and cheese customers who might not have known of the wine brand now do.

 

Brand partnerships can be an effective and mutually beneficial way to increase customer reach, boost sales, and create a sense of community among small businesses in the process. So go on out there and get partnered up!

 

For more ideas on how to help your new brand grow and thrive, check out 5 Ways to Make Your Brand Stand Out, How to Choose The Right Products to Sell in Your Online Store, 5 Ways to Build Customer Trust, and How to Boost Online Sales. And if you’re looking for customizable branded products to add to your new business’s offerings, TVCMALL is here for all your supply needs!