Promotion: Breakfast of Champions….

Breakfast inspired me this morning. It wasn't unusually good. But, my cereal box reminded me of a good marketing technique.

It's called "cross promotion". It's when one brand promotes a second brand. In my case, it was a coupon for zipper bags so you could carry and snack on your favorite cereal wherever you go: school, work, hiking, biking, etc. And it will probably sell more of both products.

There are two ways to negotiate a cross-promotion: single-sided or reciprocating. In a single-sided agreement one brand -- usually a smaller one -- pays a larger brand to run a promotional ad on or in their package. The smaller company gets to ride on the big brand name. The bigger company gets additional revenue. In a reciprocating agreement often no money changes hands but instead each partner promotes the other. Like a gas station giving away coupons for a nearby oil change place, and vice-versa.

Don't think cross promotion would work for you? Don't give up until you explore all your possibilities. Even seemingly unrelated products can work with a little creative spin (like cereal and zipper bags). You can cross promote consumables, complimenting products or even unrelated products to the same audience. Even if you can't find a partner, try cross promoting your own products by packaging a brochure or catalog with each product you ship. One of my clients sells a popular tool with about a half-dozen add-on adapters. Obviously, cross promoting the adapters is a natural.

- Phil Sasso