Cross Promotion (2/3)

Almost always the one-way cross promotion is the best because you don’t have to deal with distributing someone else’s coupons. Additionally, there are stores, especially national chains, htat do not give their managers the authority to spend local dollars for printing. For these businesses, the one-way promotion can be presented as an added value to their customers and one for which they have to spend none of their own budget. Two-way cross promotion do have the problem of uneven or differing customer counts, which creates the problem of trying to determine who should pay what portion of the printing costs;. On the other hand, in two-way cross promotions you have the opportunity to offer your own customers a little surprise or added value. There are opportunities to do both in your market, and the decision as to which will be determined by the importance of a prospective partner to your promotional efforts. As you develop cross promotions, either one-way or two-way, be aware of one of their greatest benefits You can control your coupon distribution to target only high-potential customer candidates. If you own a restaurant concept that appeals to the teen market, then the businesses you should be seeking a s a promotional partners are those that also appeal to this market, such as record shops, jean stores and college bookstores. How to set up cross promotions? The most important idea to remember when setting up cross promotions is to convince your potential partners that you are offering them a valuable gift for their customers, their club members or their tenants. Do your homework before you approach anyone. Perhaps you have just added two new low-fat, low-sodium entrees to your menu, and you want to advertise the new offerings to potential customers. First, collect any articles you can find about the fitness and e healthy eating trends. Next, write down the calorie and nutrient information on your new items and gather any additional information you can find about consumers’ preference for foods that are good for them. Make an appointment with the owner of the health food store around the corner, the manager of the fitness center down the block or even with the director of the local senior citizens’ recreational center. Show them your articles and talk about the increasing interest their customers or members have in restaurants that offer menu items prepared with these concerns in mind. It is not necessary that you have special items on your menu. The same approach can be used if you offer grilled fish or chicken or a variety of salads. Once you have the potential partner’s attention, explain that you wish to provide his or her customers with a special discount coupon and that the coupon will state that the discount is “compliments of “ his or her store, club or center. Tell the retailer or the manager that you will pay for all the production and printing of the special coupons. The key to success at this stage is to make each cross promotion unique and special. 1) Fit the offer to the partner. Think about a potential partner’s customer base and develop each promotion and coupon to interest those specific target customers. 2) Make the offer for a limited time only. Remember, you are trying to attract a new group of customers. 3) Only do one promotion at a time. This gives you better control and allows you to tell your partner that this offer is being provided only to his or her customers. Guidelines for Setting Up One-way Cross Promotions 1) If it’s a small business, approach the manager or owner directly. If it’s a large business, call ahead and make an appointment. 2) Introduce yourself and explain the idea for your cross promotion. Convince the prospective partner that you are providing a “gift” for his customers absolutely free. 3) Explain that you will pay for the printing of the coupons or fliers so it will not cost your partner anything.