Fall 2003 - Marketing Dimensions from Traymore Marketing

	Fall 2003

This Issue • Other Issues • Subscribe • Traymore Marketing

Of Olive Oil and CD Rates

by Robert M. Felber, MAS, President, Traymore Marketing
What makes a good cross-promotion? For that matter, what is cross-promotion? In our view, when two non-competing businesses join forces to gain customers, build sales and elevate their image, we have the definition of a symmetrical relationship, or what we like to call a cross-promotion.

Liberty Bank is a two-branch headquartered in Twinsburg, OH (www.libertybankna.com). Serio's is an authentic Italian Restaurant and Caterer also located in Twinsburg (www.serios.com). The bank desired to attract new customers for their CD product which had recently been introduced at a high rate of return. Traymore Marketing developed a campaign entitled "Welcome Back" with the theme of welcoming back an old friend (the higher CD rate).

Display ads (right) were created and inserted into several local newspapers. A local radio station with complimentary listener demographics was employed and featured at a special Welcome Back Celebration. The radio station money wheel game, van, tent and speakers were setup at the celebration event at one of the branches. An on-air personality attracted listeners as did the 40 plus ten second spots (commercials) the week leading up to the event. The radio station also featured the event on their website and in a weekly email to listeners complete with a link to the bank's website.

The cross-promotion that really added sizzle to the entire event was having the restaurant on site cooking up a storm with a pasta bar. The owner of the restaurant donated gift certificates for the prize wheel and even went live on the air with the radio station earlier in the week to promote the event (complete with food for twelve hungry station personnel).

To top off the cross-promotion gift certificates for the restaurant where given as premiums to investors who purchased a CD. See the display ad on this page, web ads and photos from the event. Attendance was over 200 people for the two hour event.

So, here's the challenge. What local or regional company can you partner with to achieve increased recognition and sales? Think about a company that shares a similar customer demographic or one whose service/products compliment yours. Consider the timing and length of the promotion. Are you going to run a special event or simply agree to feature each other when you meet with customers? Lastly, make sure you set the ground rules for the program and inform all staff. This way, you will not have any surprises and your employees will understand all of the details. If you have questions or interest in this valuable marketing tactic, please call us at (330) 963-3664 or via e-mail to RobFelber@traymore.com.
Gallery
(click photos for larger image)

Contact Rob Felber at (330) 963-3664 or RobFelber@traymore.com.

This Issue • Other Issues • Subscribe • Traymore Marketing