Power In Numbers How to get big-time marketing on a small-time budget
By Jacquelyn Lynn •
Opinions expressed by Entrepreneur contributors are their own.
One of the biggest challenges for any new company is buildingcredibility and name recognition in the marketplace. An effectiveway to do just that: Join forces with an established company thathas the visibility you want.
The concept of joint promotions is neither new nor unique-andyou don't have to be a big company to do it. Gus Conrades andBryan Murphy incorporated online automotive parts exchangeWrenchead.com in February 1999. Just six months later, they closeda deal with CBS Corp., exchanging a 22 percent equity stake intheir company for $33 million of advertising, promotion and otherconsideration across CBS' media properties over four years.Wrenchead.com is also the national title sponsor of the UnitedStates Hot Rod Association (USHRA) Monster Jam, as well as otherracing and concert events. Beyond sponsorships, Wrenchead.com usesjoint promotions in other ways; for example, they recently held asweepstakes and gave away a 2000 Chevy Silverado and two SuzukiQuadmaster 4x4 ATVs donated by the manufacturers.
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