How to set up a successful cross-promotion

Introduction

Cross-promotion is a marketing technique that aims to make buyers aware of other items that you are selling in addition to the one that they are interested in buying.Generally there are two ways that you can successfully use cross-promotion.The first is to sell more items per buyer by offering the buyer items that you think they will be interested in or by suggesting items that compliment the product that they are buying.The second way to cross-promote is to sell higher value items by suggesting a similar higher priced item, perhaps something with more features, that the buyer may be interested in as well.Cross promotions can also exist when cooperating or complimentary companies work to promote each other's products.

Instructions

Whether you are offering multiple products or if you have one product to sell and you have cooperative business, you can benefit from cross-promotion.There are certain suggestions for cross promotion that would work better when two companies are involved and some strategies that work well within only one company.Read through the following suggestions and think of ways that you can successfully implement these or other cross-promotional tactics.

Cross-promotion set up ideas

1. Print cross promotions on your receipts - A receipt is something that every customer will receive and to add additional printing to the bottom of the receipt costs pennies on the dollar.
2. Signage - Hang signs and posters on your walls, windows and doors.Excite the customers about making purchases from the moment that they walk into your doors.
3. Advertise - Advertise a part of your cross promotional strategies.If it is in the budget, show commercials and send out circulars or flyers advertising a "Buy one get one free" sale, for example.
4. Flyers in shopping bags - Every sales bag can hold a flyer for savings on a next purchase or an advertisement for your cooperative business.
5. Pool postage, printing and lists - If you have a cooperative agreement with another business, consider sharing these costs of cross promotion with each other.
6. Demonstration/samples - Produce an in-store demonstration of your product or provide free samples if possible.A customer can be persuaded to buy a product that they were not planning on purchasing if you can show them and allow them to see for themselves that the complimentary product you are offering is genuinely desirable.
7. Have a contest - After advertising complimentary products, provide further incentives to your customers to buy by offering them an entry in a prize giveaway or a gift after spending a certain amount.
8. Cover other costs - If you are in the business of selling a product add a service as a cross promotion.Offer free shipping or packing when your product is bought or offer these services for something very low like $.99.

Conclusion

The suggestions are relatively low cost and are thus ideal for you to try if you are just getting started with your cross-promotional strategies.Remember that sometimes costs such as advertising are investments and a successful plan implementation will increase sales which will more than compensate for the original costs of promotion.In order to maintain a competitive advantage you need to find ways to stand out from your competition.Your customers need persuasion to see that returning to your establishment is going to be worth their while.In today's highly competitive workplace, a business needs more than traditional networking, advertising and marketing to get ahead.Cross-promotion can take your business to the next level by showing existing customers that they have chosen wisely by shopping with you and to convince new customers that their dollar is better spent with you than with anyone else.