Thursday, September 30, 2010

Ever heard of 'Fusion Marketing'?

Just a quick post to hopefully enlighten some about the benefits of fusion marketing.  In fact, you may already be practicing it and don't even know it.

Essentially, it is the collaboration of two like, but not competitive, businesses.

A great example for the real estate industry is an agent and loan officer teaming up.  The agent refers all their buyer leads to the loan officer and the loan officer refers all their buyers/sellers to the agent.

Just remember to choose a business that has similar values.  You don't want to recommend or collaborate with a bad company. Do you homework before you decide who to participate with.  (This is one of the major flaws I see in this giant business networking groups.  Don't just assume that because you met someone, one time, at a meeting, they are great at what they do.)

Not only is it beneficial to refer leads, but you can also combine databases.  If you understand how to successfully market to a database to cultivate new and repeat business, this will substantially increase both businesses bottom lines.  Plus, you can then split the cost and save marketing $$$.

This is a great addition to your marketing plan.  If you were already doing it, now you need to start growing that relationship and making it as profitable as possible.

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