When it comes to solving marketing problems for clients, two heads are better than one.
The Case For Co-Marketing
Are you having trouble expanding your market reach to new customers? Are you trying to break into an entirely new market with a different product or service without luck?
The case for co-marketing, joint marketing efforts between two companies to promote individual products along similar paths, has never been stronger. If two companies with high end-user trust levels combine their messaging around a common cause or initiative, that trust becomes additive in effect among users, thus encouraging better sales and ROI on marketing spend for each.
The Benefits of Co-Marketing
Co-marketing is a great opportunity to begin relationships with other companies and brands you haven’t worked with previously while rallying around a common cause. It’s a good way to establish a connection for potential long-term relationships that could lead to other opportunities.
In addition, co-signing with another company (co-marketing) allows you access to their customers. This, in turn, boosts your brand’s reach. Not only do you have access to their customers, but you also now have access to the same markets as your co-company does.
Co-marketing enables your company to maintain more of your marketing capacity because it allows you to split a campaign with your co-company. This also improves your company’s exposure and ROI if the project is successful. Plus, it allows you (in some cases) to make use of another company’s unique resources and technology in order to accomplish a marketing or organizational objective.
More leads, more buzz, more ROI, less work.
A common form of co-marketing is when two companies with similar values and products work together on a piece of content and promote that content to both of their audiences. Often, this includes splitting the advertising budget.
Co-Marketing Steps To Take
Think about co-marketing on content pieces first: webinars, blog posts, infographics, videos, as well as other online/offline events. These are often low-effort compared to full marketing campaigns, yet they still yield ROI for your brand.
Take IMPACT for example. They partnered up with two of their clients–Force Management and Newport Board Group–on co-marketing for blog posts. This partnership gave these clients a chance to expand their potential customer reach, all while providing valuable content to readers.
At a higher level, you can co-market with another brand on full campaigns that include design work, copy, targeted email programs, PPC ad development and management, etc. Additionally, you can team up with other companies on shared landing pages for a shared purpose.
Questions To Ask Before Co-Marketing
- Does your potential partner’s audience fit your target profile? What will you both provide to your audience(s) as a value proposition?
- Will this new partnership result in new leads, reach, or exposure to different markets? Is this project/opportunity worth it for your company and your current partner(s)? If so, how long until you expect to see results?
- Does this company have a unique value, tool, or expertise you don’t currently have? If your audience is dying to learn how to build successful email marketing programs, you should probably partner with Trendline. 😉
- Does the partnership make sense from a relationship standpoint in terms of brand perception?
If you are looking to reach new potential markets and audiences, while also improving your lead generation efforts, think about making your next campaign a dual effort! For more information on co-marketing or other lead generation techniques, contact us here.