Entrepreneur.com, The Fastest Way to Find New Customers

The fastest way to get the cash registers ringing is a method that involves forming “host-beneficiary” relationships with established businesses that cater to a target audience similar to yours.

Then you promote yourself to their database with a special offer presented as a gift from the older business.

Example: A store gave a free kimono to every female customer of a local BMW dealership that brought in a letter sent by the dealership offering the gown as a gift for past patronage. The kimono had to be picked up at the boutique.

Results: 600 women picked up kimonos. The boutique spent $16 each totaling $9,600. The women spent an average of $400 when they visited equaling $240,000.

6 Steps to Success
1. Precisely define your target audience.
2. Identify local businesses that serve the same market segments.
3. Develop a clear offer for each prospective partner.
4. Pitch the plan, highlighting the benefits to the host business.
5. Supply a letter for the host’s use.
6. Develop a strategy to convert redeemers to repeat customers.