Co-marketing helps the marketers to expand their business dramatically as it involves two or more companies working together and putting combined efforts. It is one of the most efficient ways of marketing which guarantees better results if applied properly. In this article, you will find answers to all your questions related to co-marketing.
What is Co-marketing?
Co-marketing is a process by which two or more companies come together to expand and promote their business together by putting combines efforts. This is an effective method to expand the network of the audience as it helps you to generate more awareness about your product. In co-marketing, both of the partners try to promote a part of the product and then share the benefits. It is equivalent to less work and more benefits.
Co-marketing totally depends upon the partner you choose. Both should be looking for similar goals. If one is looking for the lead but the other has other purposes, so it might not work. Co-marketing generally involves working together to benefit each other in a collective format. The efforts are doubled and so is the profit. One most important things are that both companies should have similar products. This will help them in endorsing each other’s brands as well. The endorsement can be related to selling tickets for others, advertising each other’s brands on their website, and even writing guest articles on each other’s website.
What is a shared landing page?
A shared landing page is a page that is created by both companies together. It is different from the normal pages on their websites as it is specifically designed to make people aware of their partnership. For this, such pages generally include logos of both the companies in the header of the page.
It is necessary for both parties to concern legal advisors before sharing anything about their partner as this might create a problem in the future. Legal agreements must be signed for a similar purpose. Another thing is that shared landing pages should have a unique title. This title should be different from their pages on their website as this will help the audience to search these pages easily.
How to select the correct partner for co-marketing?
- Choosing a correct partner for co-marketing is very important as they will help you in doubling your profits and expand the audience network. Let us have a look at a few points about choosing the correct partner:
- The company you are looking forward to choosing as your partner should have a similar business to you. The main reason is that their audience will be the kind of audience you want to connect with. In case, their product is too different from your product, they will not be able to expand your audience network.
- The company should have a good reputation in the market and among customers. If you will associate yourself with a company having a low reputation, people will hardly consider your product and you will suffer losses.
- The company you are looking for should have the ability to generate leads for itself. If it cannot do so, they are of no help to you.
- Make sure that you are comfortable and happy to work with them.
- Also, keep in mind if their marketing techniques are different from you or not. If they have expertise in a particular marketing technique which you lack, you will be benefitted.
Examples of co-marketing
Co-marketing can be conducted in various ways. Following are some of the ways to do so:
A webinar is an amazing way to promote products with your partner. Hosting a webinar together will you to interact with the audience of both the parties which will, in turn, expand your audience. In a webinar, both the partners can showcase different dimensions of their expertise.
An eBook is another way of co-marketing. Both the parties can agree upon framing an eBook together will equal contribution of both. Many times, one partner looks for the design, cover, and another layout of the eBook while the other one cares for content. But it is not necessary. Both the partners can equally contribute to content and design if interested.
A blog is anyway necessary for the healthy marketing of your product. If you are involved in co-marketing, you can make guest posts on each other’s blog. This will help one to connect with the audience of others and vice versa. Also, combines blog posts can also attract the audience.
Twitter Chat is one of the ways to indulge more and more people in your discussion. In this, both the parties can invite their audience or customers to participate. Both parties can use their expertise to attract an audience and endorse their products.
You can also try and make a video with your partner. This video can help you in explaining your products, their usefulness, and also about your partnership. This video can be posted on the social media handles of both the companies so that they can access to a large number of audiences.
Events can be online or offline. Both types of events will be organized by both the parties in a joint manner. These events are very successful in getting attention as a large number of people like to participate in vents. If co-marketing events are taking place, chances are higher than they would be successful.
How to finally execute co-marketing?
The first part is to outline your plan. For this, you and your partner both can create a document or presentation to design the framework of your plan. Both of you can edit it as a new idea strikes. Do it for some time and finally, evaluate it.
After your plan is framed, you should start to begin to work on your content. For this, you can split your work with your partner. It will benefit both of you to complete work on time. Also, as you will be focussing on half of the work, you will be able to do it efficiently.
After that, promote your content through different platforms. You can do it through social media, emails, ebooks, webinars, and other ways, Your SEO expert will also play an important role in it.
After promoting your product, you need to evaluate the result of your co-marketing. You will be able to know if your partnership was successful or not. If it was successful then how can improve it and if not then why.
After evaluating your result, you should follow up with your partner and discuss it with them. If you think your association has benefited both of you then you can continue it and improve it more. But if you think it was a blunder, then you can also cancel your partnership.
Co-marketing is very beneficial for businesses if it is carried forward by keeping a few things in mind. It is easy to do marketing with a number of people but it becomes crucial to select the right partner for your marketing campaign as it can impact your business largely.