How Complimentary Organization can Increase Business
Make sure to always partner with businesses that your Target Markets shop at. Not competitors but businesses within different industries, that sell products your target markets are likely to buy in a different aspects their life. These are called complimentary organizations and can be used to create promotional and complimentary relationships. just two businesses helping each other out in a win-win situation. In many cases, this aids the growth of business popularity and awareness in double time.
A great example of complimentary organizations, would be airlines attractions and hotels. The planes help the hotels and attractions get guests. The hotels and attractions make the destination more attractive to visitors and enables the tourists to be able to stay in a location. This increases the number of tourists, return tourists as well as can increase the price of the destination. This requires all companies pulling their weight in collaborative effort for all parties to be sustainable, profitable each party completely benefit each other and many times offer promotions to customers from the other organization. Many times you will see airlines promoting hotels and attractions. Hotels having day tours offer discounts and promotion for attractions, etc. Many getaways offer complete packages that involve an airline, hotel, and different attractions. Although many industries do not have the partnerships like the tourism industry does, It is always wise to know your target market and team up with other organizations that your target markets are most likely interested in to d create a promotional strategy
“spend 200 Dollars at Tim Horton’s and get a free ticket to a movie at Cinaplex”.
Team up with a company and promote or sponsor an event. Get involved in their holiday events, where they can promote your products, advertise through giveaways and promotions. It is always a win-win.