Please Wait...
-
A word that is creeping into our vocabulary of late is “barter”. As the economy is taking its toll, we believe that companies are even more open to entertaining the idea of bartering; therefore, Psi Bands looks for appropriate, targeted opportunities that are mutually serving.
We also look at bartering as one component of a strategic partnership. We align ourselves with companies that serve common audiences so that we can help each other propel to the next level.
I’ve previously mentioned the importance of having a charitable partnership (not just a charity that you donate to). About 1 ½ years ago, Psi Bands partnered with Fertile Hope. http://www.psibands.com/giving_back Psi Bands and Fertile Hope serve common audiences. The partnership allows Psi Bands to:
· make contributions to a cause we value ($1 of every Cherry Blossom Psi Bands set sold goes to support Fertile Hope)
· opens up doors to new channels via introductions to oncologists and/or gynecologists (wholesale and consumer sales result)
· allows us to stretch our marketing dollars (i.e. if Fertile Hope is attending a conference that we are not attending, they promote us; they promote us at their three annual fundraisers; they feature us in an occasional newsletter)
· form partnerships. As a result of this mutually-serving charitable partnership, we formed a partnership with a major magazine – who also supports Fertile Hope – that has landed us a full page ad in a major magazine. In exchange, we are producing a mutually serving marketing piece. And, that is just the beginning.
Nothing happens overnight. It’s all a process, but certainly one to strive towards – and SAVOR.
I challenge you to think about who your ideal partner might be, and pursue them. How can they help you grow and how can you help them grow. It could be with a charity, or not. Either way, it should be of mutual benefit.
P.S. One of Psi Bands' goals in 2009 is to land another large retail account (5,000+ stores).
Read Romy's other blog entries >
Barter for a free full page ad in a major magazine!
