What do you do when you are watching your budget but know you need to market your business?  When spending money on advertising feels out of reach?  My answer to this is simple, and it applies to almost every type of business: Turning to your strength in numbers with partnership marketing.

In good times and in bad times, marketing is vital to the success of your business.  As much pressure as you have as a business owner to take care of deadlines and bills that feel urgent, marketing is the activity that helps you know that you will continue to generate revenue in the months ahead so you can keep taking care of those deadlines and bills.  Marketing is what leads to sales, and sales is what leads to everything else in your business.

Marketing is what leads to sales, and sales is what leads to everything else in your business. #business #biztips #smallbusiness #smallbiz #smb #partnershipmarketing Share on X

But just because it is important to get your message out there doesn’t mean the money and time magically appear to do so!  That’s where partnership marketing comes in.

What do I mean by this term?  Partnership marketing involves harnessing strength in numbers.  That strength in numbers comes from the businesses around you.  By finding allies in your marketing, you can all get a higher volume of reach and more community validation in the process.

By finding allies in your marketing, you can all get a higher volume of reach and more community validation in the process. #business #smallbusiness #partnershipmarketing #smallbiz #biztips Share on X

Separately, you only have your own audience.  So do the businesses in your sphere.  Collectively, you can help each other reach a combined audience.  And that combined audience can be a powerhouse marketing force.

Let’s say that there are 1o businesses in a community.  Each has built a list of 1,000 leads and customers (including your own business).  Separately, each of you can reach an audience of 1,000.  Together, you can find ways to cross market and get exposure to a combined audience of 10,000.

The benefit of partnership marketing isn’t just the strength in numbers of that combined audience volume.  It is also in how you reinforce each other’s message.  Referrals have more weight than any marketing message you can share for your own business, and leveraging the voices of your partners builds your credibility.  At the same time, you are building more credibility for them.

In the times when you feel like it is most important to get your message out there, yet your resources to do so are the leanest, think about what relationships you can build or the existing ones that you can build upon.  Chances are that there is someone out there – and probably many someones – who can also benefit from the joint effort to extend your reach.

What could partnership marketing look like?  It may look like shout outs via social media, newsletter features, teaming up on a webinar, putting postcards and offers on display in your store, verbal referrals, affiliate links on your website, or anything else that is viable for you to do that drives meaningful traffic for your partners.  They do something to share your message too, and it doesn’t have to be exactly the same thing.  Perhaps your business ally has other resources and ways to market, and they have different options for messaging your business.

The relationships you have now and the relationships you create in the future with other businesses can be your greatest marketing strength. #business #smallbusiness #smallbiz #smb #partnershipmarketing Share on X

The relationships you have now and the relationships you create in the future with other businesses can be your greatest marketing strength.  No matter what size your business is or what budget you have for marketing, there are always allies for you to find.

Together you can help each other grow to the next level.

Like this idea and want to read more about partnership marketing?  Check out this blog!