Could I Have This Dance?: Small Business Partnerships for Marketing Success

You’ve jumped head first into the small business world. And while you’re full of passion, amazing products (or services), and a growing customer base, marketing is still a struggle. It’s something almost every small business owner faces. Most places want way too much for an ad campaign and the idea of running everything while ridin’ solo like Jason Derulo feels exhausting. After a day of running your small business, a little help would be nice. So what if you didn’t have to go it alone? What if you could share the load, cut costs, and expand your reach all without feeling like you want to burn everything to the ground at the end of the day?

Even though there are affordable solutions out there (*clears throat*), partnering with another small business could be a workable solution. It isn’t just about making things easier - it’s about boosting your efforts, getting creative, and watching those results change for the better.

Why Partnering Makes Sense

Let’s start with the most obvious. Partnerships share resources. When you work with another business, it’s not just about splitting costs. It’s also about doubling your impact. Now it’s more of a team effort where you bring your strengths and they bring theirs. Maybe you’re awesome at coming up with captions and they have an eye for a good shot. It’s about finding the yin to your yang. Or like forming that big robot on Power Rangers. Together, you complete the design and balance each other. It’s cost-effective and efficient.

The best part is an expanded audience reach. You have the chance to make their customers your customers and vice versa. No more fighting for the same space. Think back to those lessons when you were a toddler: sharing is nice. And now you’re both reaching a wider audience with minimal effort. When you’re out there operating on a tight budget and limited time, this can have a huge impact.

Beyond the financial benefits and expanded reach, these small business partnerships often bring fresh ideas to the table. Both of you are getting out of your bubble. Just like different people see the world in different ways, so do small businesses. These ideas can lead you into new offers, cross-promotion of services, or the ability to create campaigns that weren’t possible on your own. So how do you make sure you’re making the most of this partnership? Make sure you’re forming a partnership that works well.

Types of Partnerships that Work Well

Choosing another business to partner with should extend beyond just picking your favorite other small business owner. It should be a pairing that makes sense for cross-promotions. Let’s say your business is a bakery. An ideal partnership might be a coffee shop. When someone buys a coffee from you, they can take their receipt to get a pastry at a discount and vice versa. Even these small gestures can pull in new customers for both businesses. And, the pairing is so natural, it’s basically a seamless experience for them - especially if your shops are in close proximity to one another.

Another more obvious, but no less valuable, idea is a joint marketing campaign. Imagine running a giveaway on Instagram together or co-hosting a pop-up event where your products are shared prominently. The main idea is that your customers engage with your partnering business’s brand and their customers engage with yours. Like a Josh Groban song, you’re raising each other up so your brands can climb on mountains. Together you’re building more buzz than either can do solo, just because two voices are louder than one. 

Referral partnerships are another possibility, not too dissimilar from cross promotions. This is as simple as sending customers their way and they’ll send customers yours. Like cross promotions, this works well when businesses are particularly suited to match on some level. Think of a plumbing business sending a client to their favorite electrician if the customer mentions an additional need outside of their scope. You both grow without spending any money and, because referrals come with some level of trust, you’re more likely to gain loyal, long-term customers. 

How to Approach Another Business

Before we get too ahead of ourselves though, let’s take some time to consider finding the right partner. Not every business is a good fit and that’s perfectly okay. The key is to find someone whose values align with yours and share at least some of your audience without being a direct competitor. If you’re running a gym, partnering with another gym is not a great idea, but a health food store? You could be looking at a match made in heaven. 

You should also pay attention to their brand voice and customer demographics. Partnerships require less work when your audiences have some good overlap. Doing this ensures that your voice and aesthetic will resonate with your expanded audience and that your partner business will do the same with the audience you’re bringing to them. Imagine Rolls Royce partnering with ALDI. Affluent luxury car brand with customers looking for exclusivity and prestige while ALDI is a budget-conscious grocery chain for folks looking to make affordable meals. Their messages, tone, and values don’t align and would potentially alienate and confuse their respective audiences. Like water and electricity, they just don’t mix. 

When you’ve found someone that looks like a good fit, keep your pitch simple. Focus on mutual benefits and what they stand to gain by partnering with you. Be specific and show them exactly how the partnership will grow their business, increase exposure, and improve their bottom line. Keep things straightforward and emphasize the mutual value. You both stand a lot to gain here!

Once you have an agreement for partnership, ground rules are a necessity. Set clear goals - what do you both want out of the partnership? More sales? Increased exposure? Lay it all down so there’s no confusion down the road about what your goals are. The best partnerships are ones where both sides know what is expected from the jump.

Pitfalls Aren’t Just a Video Game - How to Avoid Them

You can clearly see the benefits that can pop up from a partnership, but there are certainly some risks involved. Communication is the key to keeping things going in a positive direction. Because, let’s be real, if one side doesn’t hold up their end of the deal, it can all fall down. Keep the lines of communication open and clear from the beginning with regular check-ins to help prevent any misunderstandings and ensure everyone is on the same page.

A big part of that is making sure both parties contribute equally. Remember group projects back in school? Nobody likes the kid that doesn’t do anything and just coasts on the hard work of everyone else. If one partner feels like they’re doing all the work, resentment can build up quickly. That can not only hurt the partnership, but your businesses as well. 

We’ve touched on this already, but it’s important to emphasize that partnering with a business that aligns with your brand is extremely important. Make sure you’ve done your homework to ensure your values don’t clash. If they do, you can dilute your brand message, confuse your customers, and do the same for your partner’s business. 

Two Heads Are Better Than One

Collaborating with other small businesses not only lets you double your impact without doubling your workload. You can save money, expand your reach, and you gain someone to share your wins with (other than your dog at the end of the day). It doesn’t matter if it’s a cross promotion, joint campaign, a referral system, or some amazingly creative idea you’ve come up with - the possibilities are endless!

So peep your network. Is there a business you admire? Start doing your research, get your priorities and goals in order, and make that first move - we bet you’ll be glad you did. Who knows? That partnership you start could be the key to unlocking your next growth spurt for your small business.