Have you ever considered using coalition marketing in your business strategy?  If not, now is the time to.  Coalition marketing – also known as a 3rd party partnership or, as I call it, “buddy marketing”.  

Put simply, your business, and any other business you team up with, can save marketing dollars while benefiting from the opportunities to promote to each others customers.  And your customers will benefit too – by receiving special offers, discounts and/or value add on your quality goods and services.  It is a win-win for all involved.

Does the thought of working with another business (and helping promote it) seem counter to your ideas of strategic planning? Well, it should not be. Here’s a few examples.

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Let’s say you run a Pet Grooming business and are located near a local Cafe, via a coalition strategy you could offer every 3rd wash free for regulars of the coffee shop, while pet parents could enjoy a large latte for the price of a small while waiting for their pets to be groomed.

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Business A is a Legal Firm, Business B is an Accounting Firm. Both companies co-host a workshop or educational class. Each have a representative speak at the event and possibly include a 3rd independent guest speaker to add value to the event. The more valuable information you provide to attendees, the more in-demand the workshop or class will be. Attendees leave with collateral that also cross-promotes the two businesses, potentially offering an incentive to use the services of both.

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Business A is a Dance Studio, Business B is a nearby Hairdresser or Beautician.  The Dance Studio endorses the Beautician by promoting the idea of mums getting their nails done while their child is in class or encouraging parents to get their child’s hair done there before concerts. In return the Hairdresser/Beautician endorses the dance studio amongst parents, offers discounts on terms fees to regular clients and promotes/sells tickets to concerts at the salon.

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The point of buddy marketing is… everybody wins!  You, your business buddy AND your customers.

Not all marketing strategies work for all businesses, but this one can really make a difference if properly utilised.  So stop trying to go it alone, and consider implementing coalition marketing in your business plan.

You don’t need to approach 3rd party companies yourself.  Feel free to sign up here and let JIVE do the introductions for you.

Running a small business can be challenging from time to time.  It is a good thing when you can find someone with whom to share these challenges.  Buddy Programs are very common within schools these days, so why not try it within your business!