I love the idea of developing partnerships with realtors, financial planners, accountants, lawyers, bankers and other professionals that we can share our clients with. Check out my musings to learn more about how it works.
The rules of maximum synergy marketing dictate that if we are marketing by ourselves we are wasting synergy. As business people we all recognize that we have a limited amount of our most precious resources—money and time. It is our lack of time and money that limit our ability to market effectively. We know we must market to increase our productivity and income. We also know that we don’t have the time to market as we would like. Since we don’t have time to market consistently, we must make every marketing activity as effective as possible.
It seems that everyone is interested in partnering to lower the costs of their marketing, finding additional sources of revenue or navigating an additional way into the hearts of their clients.Yours is not the only product which is purchased by your target audience. By opening your eyes a little wider you will find the perfect synergy marketing partners that will enable you to increase your marketing effectiveness.
Who are the perfect synergy marketing partners? They share the same target market as you but sell a product which is related and non-competing. Maximum synergy marketing indicates that you must also know from whom else your targets will purchase on a regular basis. In many cases, this is not hard. If your customer purchases a home they are going to need insurance and moving services. If they have just purchased their first home they might not be thinking about how that purchase fits into their long term financial planning—but they should be doing just that. In other words, you must know their purchase patterns and also anticipate the needs that your targets may not anticipate.
The basic question to ask about your synergy marketing partners: how can they benefit from your marketing efforts and how can you benefit from theirs? Why should you spend your resources (time and money) contacting customers and not achieve a second objective for another individual or company who could also include you within their marketing efforts? Sometimes these actions can be as easy as adding another flyer into your mailing (and vice-versa). Sometimes these actions might involve jointly calling upon targets which will take advantage of previous relationships built up by the synergy partners. In other words, you introduce me to someone you know and I will introduce you to someone I know.
As your eyes open wider, you will find that anyone who is operating his or her marketing plan within a vacuum is not taking advantage of many synergy opportunities which revolve directly outside of his or her narrow field of vision. Why market alone when you can have many people marketing for you? This is what synergy is all about!
We welcome your comments.
Recent Comments