Many new companies face a similar marketing problem. They have difficulty disseminating their message to their target market without spending a lot of money on advertising. One way to solve this problem is to partner with a company that serves a like-minded audience.
Identify the right partners
Small businesses need to pursue partnerships with companies that not only serve a similar audience, but also share the same goals. For instance, be sure to ask yourself how working together could be mutually beneficial to both companies. Furthermore, both companies should allocate a similar amount of resources.
Don’t overlook smaller companies
Many entrepreneurs salivate over the idea of being able to partner with a large company. While it can certainly help with building credibility as well as access to a significant distribution channel, there are drawbacks. Many large companies have specific guidelines to follow when evaluating a potential partnership. (more…)