READYMADE-MAKING BUSINESS RELATIONSHIPS
Like most periodicals, ReadyMade relies on advertisers for much of its revenue. Finding companies interested in advertising in the magazine and cultivating those relationships is an important component of making the company successful. ReadyMade must constantly market its product to potential investors through personal contact and solicitation. ReadyMade also must develop relationships with distributors and other businesses that will directly or indirectly promote the magazine and help make it successful.
As you watch this video, notice the strategies that Darci Andresen describes as she explains the process she goes through as head of Advertising Sales & Special Promotions when seeking new advertisers.
Questions
1. When marketing to potential advertisers, what strategies could ReadyMade use to promote itself without having to rely on hard statistics about its readers?
2. What sort of strategic alliances does ReadyMade maintain? In what ways are these partnerships beneficial to the magazine?
3. Go to ReadyMade's Web site, readymademag.com. What evidence do you see of its business partnerships? How does it use its Web site to market itself to businesses?