Budgets are tight, but you need to move top line sales – fast! What is a quick and easy way to expand your customer base? Partnering with noncompeting retailers to help your broaden exposure is a simple, yet terrific local store marketing idea.
By crafting a retail bounceback program, both parties win by improving sales and/or combining advertising dollars. Provided that you are expanding each other’s reach, this is a no-brainer for a multi-unit chain operator as well as the single-store operator. Many retailers are specialists in their product offerings and always benefit from strong relationships with nearby non-competing retail outlets.
The concept is straightforward: you partner with a noncompeting retailer and they hand out your marketing materials to their customers. These marketing flyers are called “bouncebacks”—they usually contain a coupon that “bounces” the customer back toyour store. Then, you do the same for the noncompeting retailer, handing out bouncebacks for their stores. For the cost of the flyers, this is a remarkably easy way to generate customer traffic – customers that are already in the vicinity of your location. You can even share the cost of printing a joint bounceback with your noncompeting partner, helping reduce your cost even more as well as solidifying your partner relationship in the eyes of your customers.