Recently, when I walked into the grocery store and bought some home essentials I received a $5-off coupon on the counter for the pizza place two doors down at the mall strip. I was hungry so I decided I would use the pizza coupon, so I walked down to the pizza place, redeemed my coupon, and found a coupon on their counter for $5 off at grocery store I was just at.
These two business retailers were sending traffic to each other; they had formed a strategic business alliance; aka fusion marketing.
In the world of entrepreneurship, many of us think we have to do things alone, but its amazing the synergy available from collaborating or aligning with others. Fusion marketing can take your business to levels you never thought possible before.
You must find a “power partner” – a business that has a similar target market as yours but doesn’t really compete with you-. For example a graphic designer and a printing business; a catering business and a wedding planner; an insurance salesperson and a real estate professional.
I have seen many more examples such as cooperative advertising where two retailers targeting a similar demographic mail a postcard with offers for the two business splitting the mailing costs. This partnership or strategic business alliance is limited only by your imagination.