Have a limited marketing budget, want to try something new with you marketing this year, or your business is part of an office complex, business group, located on a certain street, small town and so on, that share similar business ideals? Creating a shared partnership, known as a marketing cooperative, might be a fit for you!
An example of this might be a small local shopping center that has many types of business in it or a smaller town with a booming main street that is all looking to bring people to their storefront while they’re at another store in town. Often joining forces is more time-efficient and cost-effective to band together to cross-promote. Especially with the rise of the big box stores and skyrocketing rates of Amazon sales, it’s an important time to remind consumers you’re here and you’re important!
Some Simple Advantages:
- Added or new exposure. Companies can advertise together and can attain more penetration in the market by banking their dollars together to get more bang for their buck or help get exposure to a business that may never be able to afford a certain type of ad space on their own.
- Financial sharing is a significant reason to cooperatively market. Buy-local organizations can hire an advertising agency that can produce marketing material for the group as a whole and even for member companies.
- Save on printing. For example; if you are planning to do a sale or direct mail piece, you may be able to piggyback and save on printing costs.
Interested in starting a marketing cooperative for your street, strip mall, office complex of the chamber of commerce? Contact Megan today to set up a consultation and to set up a customized cost-sharing plan that will be effective. We can even help solicited businesses to join you in you shared efforts! Let’s get to know our business neighbors and increase business traffic through a marketing co-op.