There are several small businesses and many new startups which are getting challenged for grabbing the stakeholders attention. Self-funding is cheaper for the business with the huge resources today. The challenge becomes differentiation and scalability.
For the competition these days good product and services are not just enough. Consumers are provided with the best alternative product that every potential buyer end up avoiding making a decision. For the customer, there are several techniques and ideas which can be implemented but many times the cost and time do not clearly justify the investment.
Marketing is all about building customers trust and awareness. Before making the buying decision, prospects go through the three phases that is awareness, trust, trial and then comes the purchase. For helping the future customers to shift from one phase to another, Marketing funnels are designed, but the challenge is to capture the attention and curiosity of the people.
For boosting your performances of business and the exposure, you have three projects with which you can begin today without getting your wallet dry.
The idea behind this approach is that companies or organizations that offer complementary and supplementary products and services will be willing to promote your offer to their audience if they trust you and if the partnership makes sense to them.
1.Organize CoBranded Training
You would be surprised how big companies and small businesses sit on lists of thousands of qualified leads, whether it is through social media, email lists or even active website visitors. But only a small percentage pays for and use the product or service. You would be surprised also how many paying customers never consume the product even though they have invested in it. This initiative entails hosting cobranded training sessions to help leads convert and existing customers solve a problem. More importantly, it is an opportunity for your company to get exposed to a new audience and build a win-win.
- List companies or solo founders that run businesses that offer complementary or supplementary products or services.
- Invest in relationship building. Business is built on trust and your only focus, in the beginning, should be in building trust with decision makers. If you cannot meet in person, the best way to catch their attention is by seeking their interest in an interview.
- People like to be recognized for their accomplishments, an interview is the best start to a potential propose a one to two-day online or in-person training event to help both of your audiences accomplish the desired outcome.
Through this simple and yet effective project, you will get an opportunity to help a new audience, educate them about the benefits of your products and services and more importantly, build trust and a relationship with them. The same goes for your partner in this initiative.
2.Launch An Online Event
Online events are a variation of cobranded training. This initiative entails inviting experts in your field to share valuable insights with your existing and future customers. Thanks to your speaker's promotion of the event, your brand will be introduced to thousands of new people, a percentage of which will convert into paying customers.
- List experts in your industry with a big audience and loyal followers.
- Seek their interest in an interview. The interview is your opportunity to connect with them at a personal level and get their commitment to promoting.
- Create an event page that includes the list of speakers, topics and expected outcomes from joining the event.
- Be of value to attendees and feel free to offer your product or service as an added benefit to joining the event or an upsell. You may also continue to educate subscribers for future product launches.
An online event is an initiative with many benefits. In addition to the exposure, it is an opportunity for you to connect with industry leaders, strengthen your personal or company brand, validate ideas and boost sales. Best of all, it can be done with a very small investment and within a few weeks.
3. Launch CoBranded Campaigns
You may have seen many social media influencers showing up in the same video or picture ad to combine their brands and reach each other audiences with a simple educational video, packaged product or service. The same idea can be applied to your solution with complementary and supplementary offers from other companies.
- Focus on relationship building. Meeting at conferences, interviewing them and purchasing their product and emailing them with a detailed review is a great way to grab their attention.
- Learn about their needs, priorities, and objectives before you propose a collaboration. Timing plays a big role so always be connecting and building relationships.
- Remove as much of the friction as you can especially if their audience is bigger than yours. You want to make their involvement simple and straightforward.
- This initiative can be as simple as a guide written on your blog about a complementary product supplemented with an interview with the founder of the company and promoted to their list by them or through a shared social media ad.
Whether you are funded or bootstrapped, the easiest way to be different nowadays is through personalization. Building a key relationship and leveraging your indirect competitor's audience in a win-win deal is a simple way to boost your business performance on strong foundations and without burning stages.