Co-marketing is when two companies work together on a promotion for a co-branded offer. This can be especially beneficial if you haven’t got much of a marketing budget; by joining forces with another company and making the most of their reach, co-marketing campaigns deliver more leads and awareness.
One of the easiest ways to offer your audience a valuable co-marketing promotion, is to find a partner who has a similar target audience, a good reputation and an established online following.
Promoting your content on social media is a great way to drive awareness for your campaign and attract visitors to your website or social media pages. For added value, don’t forget to tag the company you are partnering with.
Here are some top tips to help entice a partner on board:
1. Make sure both parties will benefit: Identify partners that align well with your business. Show them the value of joining forces with you by sharing data such as your monthly website hits, Facebook reach and your mailing list size. If you have run previous joint promotions, show them what results they can expect to see based on past successes.
2. Be clear on your goals. If you want leads, make sure they know that, and that they also want leads.
3. Give just as much as you get: Exceed your partner’s expectations and they will more than likely be happy to work with you again in the future. Write a blog post to promote your promotion, boost it on Facebook, and send out ezines. Use whatever methods you have available to you to market your promotion.
4. Make it easy for your partner: Asking somebody to join you in a marketing campaign is kind of like inviting them to a party. The less you ask them to do or bring, the more likely they are to show up smiling. Create a simple checklist and a promotion kit, complete with sample emails, social media statuses and sample images, and share these items with your partners.
Make sure to measure and take stock of your efforts. Don’t just concentrate on reach – but think about your original goals and if you met them – did it result in leads and sales? In order to keep track of your partner’s promotions efforts and compare to your own make sure to create unique tracking URLs. This will help you determine which leads came from where.