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Co-marketing is a marketing strategy where brands or organizations partner together to expand their reach. Typically, the companies working with each other have some similarities, such as being in the same industry or having similar audiences.
Before reaching out to other brands to see if they want to work with you, decide on a goal you want to achieve after this partnership. Do you want to increase your social media following, add new email subscribers or grow your leads in a new market? Your objectives influence which brands you would collaborate with and the likelihood of meeting your targets.
While brands would likely not want to work with a direct competitor, it is advantageous to seek out a a market or audience owning similar geographic locations, interests or other characteristics. It is also good practice with any partnership to check their past work, reputation and current marketing campaigns to see if their approach to marketing aligns with yours.
When reaching out, pitch to them a co-marketing partnership, provide potential promotional ideas, what you hope to achieve and why it could benefit both of your brands.
Determine which strengths you and your partners have and how to best utilize them to optimize your promotions, product launches or other marketing efforts. For example, your brand might have a bigger social media marketing team and follower base than your partner. You could then leverage these resources to increase engagement for both of your businesses.
On the other hand, your partner may have a large email subscriber list so they could send out links to your website for higher traffic numbers.
After your promotion has concluded, gather data related to the campaign and report them back to your partner, such as gains in social media followers or referral traffic. Sharing data is valuable to decide whether to prolong your partnership or pursue other collaborations in the future.
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Get Started NowSome of the pros of co-marketing include:
stronger relationships on social
Vista Social helps you understand and reach your audience, engage your community and measure performance with the only all-in-one social media management with easy-to-use features like publishing, engagement, reviews, reports and listening.