Business Growth

1. Business Growth Through Cross-Promotion

2. What is Cross Promotion? When two or more businesses promote their products or services together.

3. Benefits of Cross Promotion “There is a tremendous opportunity in partnering with non-competing organizations who have the same target market that you do to achieve a much broader reach and exposure at a proportion of the usual cost”. – Susan Sweeney

4. Benefits of Cross Promotion Less Expensive than promoting alone: • Share advertising and marketing costs with partners. • Free referrals from other businesses clients. • Less costs associated with time because partners share the work load. • Sharing resources with partners.

5. Benefits of Cross Promotion Exposure: • Reach potential customers in areas where competition is nonexistent. • Stand out with eye-catching promotions. • Reach more customers, more often. • Reach customers in your target market that may not be familiar with your business. • Gain credibility with customers through partnerships with other successful businesses.

6. Tips for Cross Promotion • Find a Partner. • What local businesses are not competitors but target the same kind of customer? • Does this business have a good reputation? • How much traffic goes through that business daily? • Partner with another owner you may know well at first. • Pick a theme and Plan Well. • Tie your promotion to a theme. • Most successful promotions are those that are well thought out.

7. Tips for Cross Promotion • Working With Your Partner- • Take the initiative. Make your first cross promotion more beneficial for your partner than for yourself. • Builds a Strong Relationship. • Talk your partner into using some of their business network for future cross promotions (perhaps a 3-way promotion) • Show appreciation for your partners involvement. Treat relationship with your partner as a relationship with a new friend. • Be straightforward with partners about what resources you are willing and able to put forward for the promotion.

8. The Facts • After the Cross Promotion- • Was it successful? • Find out what worked, what didn’t. • Ask yourself how you can make the promotion more successful next time. • Get ready for the next promotion.

9. Local Cross Promotional Ideas • Target Market Includes • Middle to Upper Class • Educated • Busy People • Soccer Moms • Health Conscious

10. Local Cross Promotional Ideas • Michigan Athletic Club- i.e 10% off a package if you show your MAC card. • Near Okemos, Michigan. • Median Household Income: $70,580 • 30% of Residents Have College Degree • Health Conscious • Membership: $1,272 per year plus $395 initiation fee. • The MAC would be a good cross promotional partner because its members encompass everything you look for in your target market. • Health Conscious Members • Professionals • Upper class citizens that enjoy the good things in life such as leisure time. Dream Dinners would allow the members more leisure time.

11. Local Cross Promotional Ideas • Eastwood Towne Center • Average Household Income of people who live within a one mile radius is $65,069 • Possible Partners: • LA Weight Loss- i.e. Get a free meal at DD with a weight loss counseling session. • Hampton Jewelers- buy a certain set of jewelry get a free meal at Dream Dinners • Bath and Body Works- Buy a lotion set, get 10% of Dream Dinners • Starbucks- Buy a meal package at DD and get a free Starbucks. • The Eastwood Towne Center customers have money to spend. Why shouldn’t they spend it on Dream Dinners as well. Why spend more time in the kitchen when you can prepare healthy meals in a fraction of the time at Dream Dinners?

12. Questions/Comments?

13. Student Night Michigan State University Douglas J Institute Davenport University Cooley Law School Lansing Community College

14. The Target Market The Student Market in Lansing, MI • Students who live in apartments • Students who own houses • Students in dorms with kitchens • Students living in Sorority and Fraternity houses

15. Student Atmosphere Things that appeal to Students • Music • Snacks • Television

16. Student Friendly Process Ways to adjust pricing and scheduling • Wave application fee • Offer less meals per visit • Allow walk-in’s

17. Reaching the Students Promoting the Student Night • Flyers • Informational Tables • Facebook Ads • Posters • Radio Ad • Apartment Complex News Letters • Student Organizations

18. Questions/Comments?

19. “The Dream Dinners Experience” Interior Enhancements

20. Areas of Focus The Office

21. Reception Room

22. Furniture Possibilities

23. Furniture Possibilities

24. Furniture Possibilities

25. Furniture Possibilities

26. Creating Ambiance

27. Window Treatments-Wooden Blinds$29.99

28. Window Treatments-Jute Window Blinds$14.99

29. Window Treatments-Bamboo Rollup Blind$14.97

30. Refreshment Area • A place to relax • Bar Stools • Appetizers • Beverages

31. Creating A Warm Environment • Adding Warm Paint • Epoxy paint. Approx: $50/gallon • 10’x10’x4 = 1 gal. • Folding screens to cover dishwashing area • $59.99

32. Finishing Touches • Move Shelf to Backroom • Holding Containers • Adding Artwork • Comment Card

33. Finishing Touches • Move Shelf to Backroom • Holding Containers • Adding Artwork • Comment Card $24.99 $9.99

34. Finishing Touches • Move Shelf to Backroom • Holding Containers • Adding Artwork • Comment Card

35. Finishing Touches • Move Shelf to Backroom • Holding Containers • Adding Artwork • Comment Card

37. Questions/Comments?

38. Contacts • For questions concerning- • Cross-Promotion: • Scott Hedges • hedgessc@msu.edu • Mobile: (586)651-3922 • Student Night: • Stephanie Kalil Kim Plunkett Amy Jackson • kalilste@msu.eduplunket8@msu.edujacks754@msu.edu • Mobile: (989) 430-6491 Mobile: (248) 840-8039 • Interior: • Jessica Boik Alex Pineau Elizabeth Ellis • boikjess@msu.edupineaual@msu.eduellisel1@msu.edu • Mobile: (989) 430-4294 Mobile: (231) 360-2539 Mobile: (248) 765-0816

39. Resources • http://money.cnn.com/best/bpretire/snapshots/30011.html • http://www.epromos.com/educationCenter/sevenstep.jsp • http://www.inlandgroup.com/Inlandus/11_6014.html