PrintEmail

To find other businesses that could be good channels for you think of those that your customers may use in relation to your product or service. For example, if your business is selling carpet your customer analysis may have identified that your customers often buy carpet after they move into a new home. In this case channels that could be useful to you would include house removal companies, the NZ Post change of address database, real estate agents, mortgage brokers and house insurance agents.

All of these people have similar customers to you and see them around the time they may be thinking of purchasing carpet. Approach these people and talk to them about ways that you can help each other build your businesses because, of course, you have something to offer them as well!

Some ideas include:

• Joint promotions whereby you give their customers a special offer
• Mailings to their databases
• Providing them with referral cards they can pass on to their customers
• Provide their customers with useful information about carpet purchasing
• Provide a seminar or joint function for their customers.

In many cases your new channels will be delighted to have another way to help their own customers and an extra way to add value to their own service by referring customers to you.

Selecting the right channels and developing a win - win situation for all is a very cost effective and accurate way of increasing your bottom line. It is a marketing tactic that is not flashy, high profile or expensive. However, it is very targeted, often free and takes little effort. It can also be very long lasting and generate you well-qualified business for years.

Once established the relationships can be easily maintained with a few courtesy visits and a sincere thank you every time your channel sends you through some business. Of course if you are able to refer business to them as well then this is even better!