When you share your premises with other tenants, such as in a managed or serviced office space, it’s important to take advantage of the resources they give you access to. So, what can you do to harness them? One idea is inter-tenant trading, in which you buy from and sell to companies in your area. Here’s how this can really help your sales.
1. Get higher quality for less
One of the big advantages of inter-tenant trading is that you can often get access to money-saving deals for your materials or resources. This means that you can save on your overheads, therefore making more profit. On the other hand, what if you kept your profit margin the same, but went for a higher quality product? This could give you a huge advantage over your competitors, as more customers will see the quality you are able to provide and become loyal to your brand.
2. Increase your B2B sales
Another way to increase your sales overall is simply by turning the businesses around you into regular customers. Think about ways in which you can serve them. If you sell products, is there one in your repertoire that might address some of their pain points? If you sell services, is there a service that they might need? Figure out a way to bring them on board through marketing. Promoting something in person, or demonstrating it for them, is likely to be more effective than a cold call or email.
3. Create dual deals
If you have a business that shares some of the same customers with you, then you can both increase sales by offering a deal that goes both ways. In other words, their customers receive a discount or special offer if they come to shop with you, and vice versa. Think about ways in which your services or goods might be concurrent. For example, a beauty salon doing hair treatments might be great at doing cross-discounts with an electrical goods store that sells hairdryers and tongs.
4. Create team packages
You could also sell a package which includes all of your services at once. For example, the beauty salon could team up with a photography studio to offer a package in which customers get a full makeover plus a photoshoot, for a combined price. This gets more sales for both sides of the equation, as your customers and theirs will both be interested in upgrading to this new package.
5. Work together on marketing
When you are marketing your businesses, it makes sense to take advantage of your close proximity and work together. A printer, social marketer, website builder, copywriter, or PR agency are all neighbours that you really want to have when embarking on a marketing campaign! They will all help you to build a better campaign and bring in more customers. You can also all pitch in together to advertise how fantastic the managed office spaces you share are, and how many different businesses are waiting to be discovered there. The more footfall there is in the space in general, the better for you.
6. Boost algorithms
Finally, if you sell online, you can easily boost algorithms for your items. For example, if you are selling ebooks on Amazon, you could convince all of your neighbours to go and buy a particular book so that it sells faster. Amazon will recognise this and push you higher up the search results when other people are browsing the site.