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Equestrian businesses typically do a great job of promoting each other by word of mouth recommendations. Word of mouth is great, and I’m a believer in formalizing that casual relationship & connection with compatible businesses. It’s great when you can join forces for some ‘conscious cross-promotion.’
Examples of this type of joint promotion or ‘crossover’ partnerships include:
- A horse breeding operation and a feed or tack store
- A veterinarian and a farrier
- A stable owner and an equestrian gift shop
- An equine insurance agency and a veterinarian
The whole point is to consider the ‘soup to nuts’ needs of the typical horse owner, AND your own target market, and find like-minded businesses to provide those customers with goods & services they don’t have to go find themselves. If your customers have had a positive experience with your horsebiz, then your recommendation should carry a decent amount of weight when you recommend a compatible business for them to check out.
You and your ‘partners’ can support each other by:
- Having each others business cards on hand
- Take that a step further and do two-sided business cards, one side for each business
- Set up joint websites or blogs with links to your individual business sites
- Do joint speaking gigs, open houses, or other events
Before heading willy-nilly down the road of cross-promotional bliss, there are some things to consider before hitching wagons together:
- Look at the size of each business and your respective target markets
- Consider your relationships & the level of trust you have with each other
- Be sure to dot i’s and cross t’s with legalities & paperwork for any agreements
- Have clear communication about who’s providing what for whom, and what the expectations are
Be sure to set aside time for periodic reviews of the relationships. Are they working for all involved? Anything need to be tweaked? With some careful planning and ongoing attention to the relationships, crossover partnerships can be a good fit for your horsebiz.
There are 15 Fridays left in 2011 – will you miss these weekly marketing tips when the series ends? Do you want it to continue? Leave your Comment using the link below. See you here next Friday for 52 Fridays #38!
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