Today marks the opening of the 5th G20 summit which is “a forum for cooperation and consultation on matters pertaining to the international financial system” – a very grand title but in effect its the “working together” of 19 countries and the European Union who together represent over 80% of the World trade.
So a ‘co-ordinated approach’ to support global economy seems to be the right way of doing things. Does this translate into local business? How can you create your very own G20 summit?
We think that forming collaboration partners is a great way to extend your marketing reach further. Being able to ‘piggy-back’ onto someone elses marketing can really bring true benefits, all you need to do is understand who else targets your market and if your product or service is complementary to theirs.
Let’s take our normal working example of a florist, whilst most of us cannot put together a great floral arrangement, I think its safe to say we can all understand the business they are in. So for a florist interested in the wedding market, other ‘collaborative partners’ they could approach would include:
- A Photographer
- A Wedding Dress Supplier
- A Make Up Artist
- A Venue
- A Car Hire
- Cake Supplier
How can a florist take advantage of these other complementary businesses,
- They put together a joint email campaign and send it to all 6 databases (potentially 6 x the reach of just yours)
- They can put together joint advertising packages and share the cost
- They can all ‘recommend’ each other – there may be a finders fee for this but that’s OK
- They can all contribute to each others blogs as guest authors
- They can all help “share the love” on the social media platforms.
…and this list is without even trying, you can see how this translates in business benefits for you and your clients
- Improved or wider range of services for your clients
- Wider geographical reach for you potentially
- Financial savings on cost of sale
- Information sharing & knowledge
- Capacity to replicate success more easily
- Positive PR opportunities
- Mutual support
the list could go on.
If you’re not already doing this you are missing out on a vital marketing arm to grow your business, who are your G20 partners that will help with your “collaboration for the World economy?”