Question

Topic: Strategy

Fusion Parters For Vehicle Lettering Company

Posted by Anonymous on 11/1/2008 at 7:17 PM ET 50 Points
Dear Oracle of Business Wisdom,

I own a small company that specializes in Vehicle Lettering. We are mobile in nature, as to keep our overhead low and offer the convenience of going to the customer's site to letter his/her company vehicle.

I am looking to do some fusion marketing with some vehicle related companies (car dealers, auto body shops, car radio shops, etc.); but find myself at the end of a short list which I know is miles long when speaking of companies that compliment what I do.

I humbly ask your help.

To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by wnelson on 11/1/2008 at 8:34 PM Accepted
    Debrihmi,

    I'm not sure I understand. Just what what exactly are you having difficulty? Are you asking for help in the step-by-step process of establishing a partnership? Process of undertaking fusion marketing after you form the relationship? Or identifying potential partners?

    I'll cover each briefly - but if you elaborate on the problem a little more, we can help more specifically.

    Fusion Marketing - What is it?
    Fusion marketing is a "new wave" name for a very old concept - co-branding. The concept is you can "explode" your marketing efforts by teaming with another non-competing company targeting the same customer set. Minus the new wave hyped up name, plain old co-branding has been done forever! Take McDonald's offering Mattel Hotwheels cars in their Happy Meals.

    How to pick a partner
    Of primary importance with a co-branding partner is that both parties target the same customer segment. Without this, marketing efforts are wasted for one of the parties. Co-branding is about making "1 + 1" into 3. Given this, both companies have to be able to give something. Besides advertising money, both companies should have reasonable brand recognition. Additionally, when both brands are together, they should provide the customer with something that they can't get from either brand separately or individually.

    Process to form a co-branding relationship
    Co-branding is as simple as approaching another non-competing company that fits the profile described above to propose the relationship. The success of forging the relationship depends on the proposer being able to communicate the vision of the co-branding effort. In other words, the proposer should have a clear understanding of the benefits to both companies of co-branding. Additionally, the proposer should have an idea what the target partner needs so he can discuss how co-branding can help satisfy those needs. This is a lot like a selling cycle - the partnership has to be sold to the potential partner.

    Co-branding process
    Co-branding involves starting marketing from the ground up - just like you would for a new product. Think of this as a product launch cycle. First, you analyze who your target customers are, what their needs are, who the competition is, where they satisfy and fail to satisfy those needs, how customers find out about the product (what media), and customers' influencers - words and images that promote the customer to make a "buy" decision. Then, using the core competencies of both brands and knowledge of needs and unsatisfied needs, unique selling points are established. Brand strategies are established and SWAT analysis is used to develop strategic actions. A marketing plan is established, complete with goals and measurements. Activities are established and actions defined. Then, the plan is executed and periodically reviewed versus goals.

    This is a short overview of fusion marketing - aka co-marketing. Given this, what else is it you would like to know?

    I hope this helps.

    Wayde
  • Posted by wnelson on 11/1/2008 at 10:55 PM Member
    Debrihmi,

    Here's a decent article on "fusion marketing" specifically for small businesses.

    https://www.graphicmatter.com/marketingmatters/MMB11/page2.htm

    For considering partners, first consider who you want to target. Yes, I'm hearing you say, "All businesses who want lettering on their cars." That means you want to attract ALL customers. To market to ALL customers, you would need an infinite marketing budget to reach ALL. So narrow it down to your "ideal" customer. Taking a guess, I'd say you would like a few customers with a fleet vehicles versus a many, many customers with one vehicle. This would lead one to trucking companies, delivery companies, taxi companies, bakeries (that deliver), etc. So your first consideration in selecting companies with whom to partner is those who focus on these kinds of clients. Auto and truck repair, tire companies - these probably are the best. Another might be a company that handles fleet communications - like radios and such. And truck dealers, too. I would doubt car audio would be a good partner - they would cater to consumers versus business and if business, those single vehicle businesses. Perhaps car dealers - but specifically with the fleet sales person at the dealer.

    More of a consideration - to make this work, you have to provide something. To whom can YOU provide referral business? I'm assuming most of your business comes from word of mouth marketing (WOMM) and this would be your primary marketing effort. Beyond that, with whom can you structure viable and compelling marketing activities that will further both of your businesses? Are these activities ads in the paper? Radio ads? Direct mail? Email?

    Whoever you go with, don't forget about linking your websites! That's a relatively easy way to co-brand!

    I hope this helps.

    Wayde

  • Posted by CarolBlaha on 11/2/2008 at 9:18 AM Member
    You should not worry about the businesses being directly related. Your target partners aren't necessarily bodyshop types-- they are business people. Anyone selling to business.

    And don't stop there. I like to tell the story of coming in off the road, dead tired but the grandkids wanted to visit. I knew the fridge was empty. I had to pick up dry cleaning and on the bag was a coupon for pizza-- in a small shop in the same strip mall. I can't remember the last time I ate pizza but the grandkids love it. So that is where I went. At the pizza shop was a coupon for the dry cleaner. If it wasn't for that coupon I wouldn't not have been reminded of that store and would have gone elsewhere.

    Look at your next credit card statement. If its like mine there are coupons for totally unrelated businesses. Its a myth that you should stick with related businesses. That is low lying fruit-- so think out of the box!

    Sell Well and Prosper tm
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)