Business

Cross Marketing during a Slow Economy

A group of seasoned business and professional women with the assistance of Women Partner International, a women’s cross marketing (or strategic alliance) consortium, are joining forces to help each other thrive and reach the $1 million sales mark. Instead of selling to each other, they are finding ways to leverage each others’ existing client base while sharing marketing costs to stretch their precious marketing dollars.

The women in business market has been experiencing a feast and a famine for some time now. It’s been widely reported by the Centre for Women’s Business Research that 3% or 312,000 of an estimated 10.4 million women-owned companies have $1 million in annual revenue. Yet, the fact that the U.S. Census data shows 46% of women-owned businesses or 4,784,000 are tiny enterprises with revenue of less than $10,000 per year isn’t widely known. Women will have to start thinking collaboratively if they want to thrive in this tough economic climate. Maryland Heights,  Missouri businesswoman, Khrys Vaughan, owner of Her StartUp, LLC, is one of those women.

Vaughan knows that the government isn’t going to bail out Her StartUp, LLC if it goes under so it is up to her to keep her company doors open by implementing smart yet cost effective marketing strategies – everything from freelance selection processes to cutting unproductive meetings. Women Partner International’s unique approach to cross business interaction is allowing her to do just that. It educates women about the metro women in business market in the U.S. and other countries from the perspective of a businessperson putting together a marketing plan and assists them with developing cross marketing partnerships with the business, executive, and professional women who reside in the metro areas they want to target.

Vaughan recently took on a leadership role in Women Partner International to chair its new Greater St. Louis chapter. She will foster cross marketing relationships between women in her metro area by co-sponsoring complimentary business partner matchmaking events that also help female college graduates find contacts that can assist them with launching their start ups. Vaughan will also work with other chapter chairwomen around the US to facilitate joint monthly cross marketing boot camps. Members from two to three chapters will team up to work on podcasts, direct sales campaigns, shared ad space in business publications, business summits, and more to gain access to each other’s metro women in business market and clients while they motivate each other to strive towards the $1 million sales mark.

Over the next 12 months, Women Partner International plans to establish cross marketing chapters in every US metro area while helping women in other countries forge cross marketing partnerships with women in the states. Business and professional women seeking cross marketing partners can visit Women Partner International’s blog to browse its business profiles and get tips on how to effectively cross market.

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