Featured Post

The power of the strategic plan

In today’s corporate world, whether you are in business, charity, ministry, sports, politics or even the academia it’s important for you to...

Wednesday, September 7, 2016

Cut your costs with Joint Marketing solutions




In an environment where there are challenges in raising funds to market products, you can work out strategies to cut the costs of marketing to the barest minimum, by linking up with a non threatening ally who also wishes to market products. What we are saying is, find another organization that is willing to join forces with you and ride on each others backs to achieve your objectives!
Fast food restaurant can sign an exclusive purchase deal with a major soft drink company, making sure the company has a variety of drinks to market. Such deals should be done at a discount for the buyer so that he can make maximum profit and the soft drink company can be sure that a certain number of its products would be sold over that period of time!
A car dealer could approach a car accessory company and agree to recommend the company to buyers for the purchase of accessories such as engine oil, coollants, washing liquids, paints etc
 Dentists could agree to recommend toothpastes and mouthwashes to patients as well as give service recommendations for various professionals that they patronize and know of their diligence and trustworthiness.  Commissions could be arranged on both occasions. A copy writer could approach a web based business that sells products on line to put up an advert for his service in exchange for him writing copy for them.
Generally speaking, the cost of operations could be reduced drastically if we look of ways to synergies with companies around us. Here are few more suggestions:
1. Sharing costs of advertising and other marketing concepts with other organizations who services or products compliment one another.
2. Cost of logistics can be shared or reduced if we know the right way to freight our products or the right company to carry them. The basic things to do is compare what the local shipping, aviation, speed post or courier service charges and compare to the companies that are into  regular transportation to see if you can get your costs reduced.
3. Packaging advertisements: You can get major companies that use cartons to package their products to put your advertisements on one side of their cartons at either a cost or an exchange of service.
4. Product Design:  IF Dell Computers agree to use only micro soft software, then micro soft has to give Dell a discount on their purchase of software. From this we can learn that if we are into the production of products, we can sign agreements on where we will purchase raw material or components based on discounts and exclusivity of usage.
5. Those who sell washing machines, and various other forms of domestic equipment can recommend strongly what products should go with them or even sell the products along with the equipment at agreed percentages and special arrangements
6. Service recommendations: Fitters or installers of machinery, carpets, software etc can recommend people who will service such machinery when the need arises. Commissions could be worked out among the parties concerned.
7. Geographic proximity: IF you sell a product or service and you know the customer would require something complimentary to use the product you sell, why not send him across the street to a neighboring organizations to shop. The deal can be reversed in that those who sell components or accessories could also recommend where the major products can be bought for new and in great condition.
8 Relationship Pricing and Strategic discounting: Consider a sign: Buy a dinner for four at the Delta Restaurant and get a free ticket to a show or a free hair cut or a coupon to attend a specialized presentation somewhere.

No comments: