With the economy continuing to decline, marketers are looking to collaborate with others to maintain market share. Only recently competitors were viewed as an advesary -- but today they could be embraced as partners.

Referral program

At one time, referral programs were difficult to launch. Reason simply, most businesses found it difficult to ask others for business. Today, asking for help is palatable if not expected. Review your client base and begin thinking of ways to reach out to customers through web initiatives, e-mail or onsite forums. Doing so will actually bring your customers closer – they understand because they are experiencing the same pain.

Channel partners

Marketers have an opportunity to expand their offerings by collaborating with channel partners. Channel partners provide offerings that complement your business and have a comparable buyer type. They could be agencies, competing businesses or freelancers that provide access to new leads for you and the partner. Find a similar cause or initiative that will help customers thrive during a recession.

Co-op initiatives with vendors 

Similar to the above-mentioned programs, consider creating campaigns that are sponsored or partially financially underwritten by your vendors. Marketers could develop an initiative sponsored by their print vendor, internet service provider or even the vendor that supplies coffee for the business. Design an initiative with your company as the center point but weave in the sponsorship by the co-op vendor partner.

Social Networks

Lastly, feel confident that you can reach out to your social networks for collaboration and ideas. Everyone is feeling the pinch and if asked, most professionals are open to discussions on collaboration.

Best,

Denice MacDonald