How to Create a Profitable Fusion Marketing Alliance

The main objective of most growing business's is to efficiently generate the largest profit margin while building brand equity and satisfying customers' needs. However, the majority of growing businesses are facing similar problems:

Limited marketing budget
Lack of marketing expertise
Slim profit margins
Ineffective market promotions
Difficulty acquiring targeted customers
Not enough revenue

One solution that solves all of these problems is forming a fusion marketing alliance.

1. Increases Brand Exposure
2. Raises the Value of your Brand
3. Acquires New Targeted Customers
4. Improves Marketing ROI
5. Creates More Streams of Income

FUNCTIONAL

1. Create Instant Brand Credibility- Take advantage of receiving an immediate endorsement as a result of a fusion marketing partnership. Receiving an endorsement from an established business is a very valuable reference. The alliance means that both businesses find each other credible and capable of efficiently fulfilling customers' needs. Find the most effective way to incorporate both businesses's marketing message into a joint advertisement. As a result, if Company A's customers think that Company A has a positive relationship with Company B, and I am a customer of Company A and I like Company A, then I should like Company B, also!

FINANCIAL

2. Split Marketing Expenses- Imagine the possibilities of combining the resources of other businesses with your own. It is beneficial to take the time to devise a campaign that would spotlight each business's benefits into one joint advertisement. This will allow you to split the costs of the advertisement resulting in either (1) spending less money to reach the same amount of customers, or (2) spending the same amount of money and reaching more customers within your target market.

3. Get Paid for Your Referrals- Add a new stream of income by becoming an affiliate for another business. This can be accomplished at no cost to you, and in most cases, you can arrange to be compensated for every referral you produce. The more you assist another business meet their sales goals, the more willing they are to compensate you.

4. Cooperative Purchasing Power- Many big corporations take advantage of purchasing items in bulk. They benefit from the power of economies of scale, which is purchasing large quantities of items for a discounted cost. Contact other people that want to purchase the same product or service as you. By purchasing in bulk, it would decrease the overall price for everyone. Therefore, organize a timetable with your "power partners" and form a cooperative purchasing group so you can all save money together.

FUTURE

5. Reach Business Growth Goals More Rapidly- By combining the preceding strategies, you will reach your business's growth goals much more rapidly than you would on your own!

Are you starting to see the immediate benefits of fusion marketing?

1. Research Power Partner- Conduct market research to find the best power partner candidates. Some of the best ones to start listing are found locally, industry-related, or within your supply chain. Once you have put a list together of potential power partners, perform primary market research to find which business is the most powerful out of your pool of candidates. Also, it is important to fuse with a business that offers something to benefit your business.

2. Write a Fusion Marketing Plan- Create a detailed plan and design a fusion marketing campaign that results in a win-win situation for both parties involved. The more time and planning put into a fusion marketing plan, the better your results will be.

3. Agree on Terms of the Partnership- By putting everything in writing upfront, you will clearly know your involvement in the fusion marketing partnership. Adding a Letter of Agreement into your fusion marketing plan that defines roles, responsibilities, and finances will save you time and stress throughout the partnership.

Are you capable of devising a plan to accomplish the above mentioned steps? Imagine how much easier it would be with a plan already in place.

1. DO NOT form a fusion marketing alliance with just any interested business. It is very important to thoroughly research your potential "power partner." There are so many advantages and benefits to forming a valuable strategic business alliance that you do not want to waste time preparing a fusion marketing plan with a business that does not meet your standards. Continuously look for businesses that will benefit your company and increase brand equity.

2. DO NOT commit to a partnership that is out of your budget. Many businesses will jump at the chance to fuse with a business that will immediately increase their brand equity. However, if this partnership is more costly than you have available in your budget, it is not a good idea after all. Now, do not give up on that opportunity just yet. Maybe you can offer something beneficial to the potential "power partner" that will make it worth it for them to spend a higher percentage on the campaign.

3. DO NOT take action without putting everything in writing. Although it is okay to brainstorm ideas with potential "power partners," it is important not to take action until after signing a Letter of Agreement. Many businesses run into problems because they do not clearly define roles, responsibilities, and finances in writing.