The concept of cross-promotion is rapidly gaining popularity, particularly within the pop-up market. Not all small businesses can afford to rent a temporary pop-up space, let alone a permanent retail store. However, with fellow SMEs onside the cost of setting up a pop-up presence can be slashed.
So what are the benefits or cross-promotion? Read on for our guide to how collaborative pop-ups could fast-track your SME to the next stage of growth.
You scratch my back…
One of the absolute best ways to leverage the power of cross-promotion is to build mutually beneficial relationships with meaningful brands. For example, if you design custom clothing, you may want to get friendly with a local accessories brand and put forward the idea of commissioning a joint pop-up space. Alternatively, you can target accessories brands with existing retail space, and open their eyes to the benefits of enhancing their in-store experience with a curated rack of your pieces. Want to know more about exclusive fashion pop-up opportunities in Dubai? Check out our current list of spaces, that are guaranteed to help your brand make a mark.
Riding on the coattails
Often cross-promotion is a mutually beneficial strategy for both small businesses, and larger retailers who serve as pop-up hosts. For example, the collaborative economy has seen a host of boutique brands set up a concession presence in larger stores that are already established. For small businesses, this reinforces their pop-up with trust and authenticity. Not to mention the fact that they’ll likely receive traffic based solely on the fact that they’re located within an already popular store. For host stores, pop-ups represent a unique opportunity to enhance the customer experience, portray a sense of exclusivity, and augment profits based on commission.
The allure of agglomeration
Customers love to be spoilt for choice, and collaborative pop-ups play on this intrinsic buyer preference. With the promise of not one but multiple different brands and products to choose from, enticing prospective customers into a pop-up store is much easier. So, even if you design handmade jewellery and you’re teaming up with four competitors, you could still stand to benefit from a joint pop-up effort.
Create a buzz
As well as collaboration with other brands and host stores, cross-promotion can also be used to create a buzz. Take Kanye West’s latest pop-up ‘Pablo’ merch store blitz. In major cities across the globe, fans were invited to snap up exclusive branded merchandise to celebrate the launch of his latest album, The Life of Pablo. Needless to say, the soundtrack was exclusively ‘Pablo’ themed. With lines snaking for blocks, there’s no denying that Kanye knows a thing or two about internal cross-collaboration.
So, despite what your gut entrepreneurial instincts might tell you, cross-promotion pop-ups can often be a fantastic opportunity for small businesses.