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When you partner up with another business by bundling your products or services together – or forming a whole new project, you are able to reach a whole new set of customers. Ideally you are going to want to choose a business that compliments yours without competing with yours in any way. For example, say you sell jewelry, a good partnering choice might be clothing of one kind or another. By combining both your efforts you are not only each reaching new customers but you increase the possibility of compounding or upgrading your sales. Let’s carry this example a little further. How about putting together a sales package that both of you sell, say a specific dress combined with a specific necklace or other pieces of jewelry. You market the set at an agreed upon price and sell the set on each others web site. Obviously this is going to take cooperation and coordination in regards to shipping and payment distribution. It can however significantly increase your sales.
Another way of partnering goes like this and it’s done in B&M stores all the time. Have your oil changed here and get a coupon for 50% OFF your next car wash at Joe Smiths Car Wash. Joe Smith’s Car Wash offers a coupon for the oil change. You see how it works. The possibilities are endless. Using these cross coupons is also very effective and a form of Partnering.
Some times it takes a little searching to find the right match when it comes to partnering but it can be well worth the effort.
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