Why You Should Engage in Co-marketing
- Published on Sunday, 03 May 2015 18:56
- Ven Inting
- 0 Comments
In 2003, Volvo and LEGOLAND teamed up to create a program wherein kids aged three to thirteen can learn to drive safely within the security of a theme park. In the process, Volvo was branded as LEGOLAND’s official car manufacturer, while LEGOLAND was promoted in various activities of Volvo, particularly their safety awareness campaign. This strategy of promoting each other’s brand and respective products is called co-marketing.
Marketo describes it as “the process of aligning your company’s interests, resources and marketing muscle with other like-minded companies to accomplish much more than you might on your own.” In this marketing strategy, there is a mutual promotion of each other’s products with potential benefit of reduced costs. Company A promotes company B to its audience, and company B promotes company A to its audience. Historically a venture for larger corporations, it’s now the perfect marketing tool for any business—large or small and is well worth your consideration.
What are different co-marketing opportunities?
Although the Volvo-LEGOLAND partnership is a good example of utilising co-marketing, it is not limited to that. There are various other opportunities you can take to effectively market with a partner.
One of the most popular methods is blogging. In co-marketing, it is when two companies create content together and post it on both or one of their sites. It resembles guest blogging, but with a more refined partnership between co-marketers.
Just be vigilant about using this strategy. A blog entry titled The decay and fall of guest blogging for SEO by Matt Cutts, explains how guest blogging has evolved to a spammy culture. As Google’s head of the webspam team, he has cautioned those who are using guest blogging solely for linkbuilding. There is a fine line between “high-quaity guest posts” as opposed to “spammier guest blogs,” and Cutts intends to build a border around it.
If you want to increase your brand’s credentials, co-publishing a case study or research survey is a great way of doing so. This is because people are more likely to use you as reference. Co-writing an e-book is another way to boost your brand’s reputation, because it has a longer shelf life than the usual blogs. On the other hand, if your co-marketer has expertise in design and you have expertise in data-gathering, you might want to try making an infographic. It is used in presenting information through graphic visual illustrations which makes it a strong tool in advertising.
You might also want to try producing videos. With a partner, cost is greatly reduced. It is very effective in reaching out to audience who enjoy watching short clips over reading and viewing other advertisements. It is creative and can be endorsed in various sites—not limited to video-sharing websites.
Finally, when presenting a lengthy topic to clients, hosting a webinar with your co-marketer is the most efficient way. You can initiate direct audience interaction by having them ask questions and allowing you to clarify messages.
What are the benefits of co-marketing?
A larger stage for your campaign
The main purpose of co-marketing is to introduce one brand to the clients of another, and vice versa. It sets up a stage wherein you and your co-marketer can gather your own crowd, prepare a shared promotional campaign that promotes each of your products, and enjoy a larger audience to market to. This strategy allows each of you to reach beyond your initial network and meet potential clients that are new to your brand.
Shared cost, effort, and proficiency
One of the perks of having more than one person or team to promote your product is that there are more creative brains to come up with the best ideas. And it not only reduces your cost, but it also increases proficiency. But of course, this is not a one-way process. As a marketing partnership, both companies should ultimately benefit. A tweet for a tweet, a like for a like.
A hyperlink that directs an internet user to your website is called a backlink. In co-marketing, it is expected that you and your co-marketer help each other to strengthen your backlinks by sharing each other’s site content along with a link. Having more backlinks to your site gives you a higher quality SEO ranking and a potentially much larger audience. Moreover, it increases your brand reputation. Just remember Cutts’ warning and be sure that it comes from a long-term partnership to guarantee the quality of your backlinks.
These benefits may immediately convince you to delve in to co-marketing. It’s important to know that while having a partner by your side may provide additional economies and marketing leverage, it is still vital to consider the pros and cons of a potential partnership. While potentially effective, marketing strategies will only work when they are well planned and executed.