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Forex Trading| Article #225 : CROSS PROMOTION

In our last installment in our odds and ends series, we discussed riding the coat tails of another product or service. In this installment we’re going to talk about something that is kind of related to coat tail riding called cross promotion. This is a great way for companies to take advantage of potential sales from customers of other companies by using these company’s lists.  Again, this is not meant to be taken as a complete tutorial on how to exploit other company’s customers but is simply meant as an introduction to the subject. A more in depth discussion will follow in future articles.

Cross promotion is something that, if done correctly, can get a marketer some extra prospects and income with very little extra effort and cost over and above their own marketing efforts.  The reason for this is simple. When you get together with another business or other people who are reaching the same prospective customers that you’re trying to reach, you can reach these people a lot easier if you have just the right products and services.

This is especially powerful if two or more smaller companies get together and cross promote in an effort to beat out a larger company who might have a hold on the marketplace. Think about it. If company A has a $1 million budget for advertising but companies B, C and D all have a half a million a piece, the three companies combined can take a larger share of the market between them over and above what company A currently controls. This is why you see mergers going on all the time. It’s to get leverage over another company.

What these B, C and D companies usually do, and this is where the actual cross promotion comes in, is bundle a number of their products and services together into one package. This will in turn make their package more attractive to potential customers.

For example, let’s say that company A was an Internet Service Provider and company B was a long distance company. If they combined their services together, they could possibly offer Internet services and long distance at a lower cost than company C, which is currently just an Internet Service Provider. If this were to happen, the cross promotion of these two companies would seriously eat into company C’s profits. Company C would then either have to put more money into advertising, cut prices, or do their own cross promotion with another company where it would also offer combined services.

How does this apply to Internet marketing? Simple: let’s say you had a product that was a PLR product and you wanted to give it out, but only in bits and pieces because it was so big. You figured the only way to do that was to offer it as part of a membership site. Problem is, you don’t have a membership site and don’t have either the skills or the time to create one. In this case, you’d combine forces with a membership site out there that specializes in PLR products. You would offer yours through the other site, offering the site owner a healthy piece of the pie, and you’ve got your PLR package out in the market.

There are many ways to take advantage of cross promotion. They are limited only by your imagination.

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