Wednesday, November 27, 2019

What is a cross promotion?

A cross promotion is a technique for distributing your coupon, discount or message about your business. It is low-cost because someone else hands out your message at no cost to you beyond the cost of printing and paper.

One of the greatest benefits of a cross-promotional effort is that you can transfer the responsibility of the discount to someone else. As an example, you can set up a cross promotion with a nearby bowling alley during which they will be giving their customers coupons offering specials. The coupons read that the offer "'Compliments of Jake's” incentive to eat at your restaurant is from the bowling alley.

You have provided your promotional partner with a nice surprise he can give his customers and his customers believe he is responsible for the discount, not you. Therefore, you are not perceived as having discounted your product.

Cross promotions not only help you maintain your regular price credibility, they also provide you a means of controlling your couponing in terms of both quantity and locations. If the local theater has 5,000 customers a week and you don’t want 5,000-coupons out, print only 2,000 and limit the distribution to a couple of days. The key to a successful cross promotion effort is to personalize each coupon, flier or discount card specifically for the group or retailer who will be distributing them for you. You should seek out businesses with high-volume traffic to approach as cross-promotional partners. 

Examples of high-traffic businesses include:

Retailers or services such as supermarkets, banks, car washes, convenience stores, and book stores - Professionals such as doctors, dentists, and realtors - Recreational centers such as theaters, bowling alleys and skating or roller rinks - Travel and tourism entities such as hotels, motels and your local Chamber of Commerce.