Lateral Marketing & Small BusinessWritten by Traci Hayner Vanover
Big businesses do it, and now small business owners are following trend. No, I'm not talking about spokesmodels, endorsements, or catchy theme songs -- although certainly you could use those if you wish. What I am referring to is Lateral Marketing -- and if used properly, it can be a solid business building tool.For this example, we're featuring business client The Soap Dish, a family operated business offering a line of handmade Goat's Milk soap, lotion, and sundries. In addition, The Soap Dish offers an assortment of soap making supplies, packaging items, and a full recipe library. It is this selection of items that we will be focusing on for basis of this discussion. The owners of The Soap Dish learned, as many small business owners do, that few companies can, (or will) accommodate unique needs of cottage industries. Many small businesses are unable to meet larger companies' order minimums, or simply do not wish to bring in quantities needed in order to benefit from bulk rate pricing. This niche provided The Soap Dish with opportunity to provide a service to other small businesses within same market. By ordering basic supplies in larger quantities, The Soap Dish was able to enjoy benefits of bulk pricing discounts, then pass these discounts along to competitors who utilized
| | The Benefits of Joint Venture MarketingWritten by Traci Hayner Vanover
Joint Venture Marketing can take many forms -- and if done properly, can significantly enhance your business. Don't let name fool you, you have already been a consumer of a number of joint venture marketing promotions. Have you ever purchased a pizza during Final Four, and received a free basketball? That is a result of a joint venture. There are countless other examples, but you get general idea.Another form of joint venture marketing that has gained popularity on internet is dawn of virtual marketplaces. Many niche sites offer this type of marketplace, and they allow members to pool resources to generate traffic, and of course, sales. One of most powerful benefits to this type of venue is appeal of their ability to pool advertising dollars to obtain a promotional presence that members might not have been able to acquire individually. In addition, these venues are often able to procure significant discounts and special offers for members from common suppliers, which creates a stronger buying presence for group as a whole. Members gain visibility in marketplace and in search engines, and they enjoy benefit of increased traffic to their individual businesses.
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