Teaming up with other local businesses can benefit both your own store and the one you have partnered with. Successful local retail collaborations ideally result in both businesses seeing more customers and more sales.
The key to making it work is picking retailers that complement what your own store offers. They need to be similarly positioned so that the partnership doesn’t damage your own brand, and the partnership needs to appeal to your own target audience to really work.
How to choose who to partner with
- Complementary offerings: You appeal to the same demographic/psychographic, but with products and services that work well together. For a retail jeweller, this could include bridal companies like a local florist, photographer, hair and beauty salons, and cake shops.
- You have similar offerings but join forces for an economy of scale: this could result in co-operative local advertising with several partners in one ad that would be cost-prohibitive otherwise, or attending a wedding fair as a group of businesses offering a package of local services.
- Similar customer/fan base with not too much overlap: This works particularly well for online marketing, where local businesses agree to promote each others’ products and each gain new fans.
- Local charity partnerships with organisations whose mission is aligned with your brand identity: Many local jewellers fundraise at key points during the year to support local charities.
Totally Locally is a free campaign that brings local businesses in a town together to work in a collaborative way with plenty of support and advice from towns that have already held successful campaigns. Its fundamental aim is to support independent businesses and encourage shoppers back onto the high street.