Fusion Marketing – A strategy to grow your customer base and increase business

As we face tougher economic times, using creative marketing strategies play a key role in business success. One of these strategies is Fusion marketing, which is the collaboration or aligning of businesses that have similar target markets but don’t compete against each other. Fusion marketing alliances can be powerful partners. Examples of these are: an estate planning attorney and a life insurance salesperson; a graphic designer and a printer; a real estate professional and a mortgage broker; a wedding photographer and a disc jockey.

As a spa owner, you may choose to partner with a local gym or fitness facility. Take a look at your neighboring businesses and determine if a health food store or restaurant is the right partner for you. Talk to your vendors, sometimes, the best partners are the ones you have been working with for years.

Incorporate your Fusion marketing strategy that fits you:

Coupon sharing with your partner
Developing a plan to trade discount coupons with your chosen partner can expand your customer base, ultimately increasing sales. Think of a reasonable incentive to give to prospects and create marketing material in the form of a coupon and trade them with your partner. To bring costs down, try an electronic version of the coupon on their website.

Joining Mailing lists with your partner
When you have decided on whom you will partner with for your fusion marketing strategies, you may choose to take advantage of their customer base as they will with yours. Setting up with a joint mailing strategy will introduce their customers to your business and vice versa. This strategy is an easy and effective way to increase your customer base.

Incentives to your corresponding resource partner
This process may be the most complicated, but could be the most lucrative for your business. Providing an incentive to your resource partner to push your product or services can bring your more customers and sales. Essentially, this process is like paying your partner a referral fee or commission for business they bring in for you or the other way around. The complication in this comes in the legal attributes that are associated with it referring to contracts and agreements. But, getting paid, will incentivize anyone to help expand your business.