We’ve all heard about marketing but what is this co-marketing everyone seems to be talking about? It’s actually not that much different than regular old marketing, it’s just a method of marketing through which two or more companies work together on a co-branded offer.
Co-marketing involves a partnership where the two companies take a product or piece of content and freely share what they’ve developed to market that item. With this approach, you’re getting two minds for the price of one, essentially. When one company runs through its promotion efforts, you get a result of those efforts, which means two teams working together should double those results because you’re reaching a new audience that your team alone has not been able to attract.
While this might be your first exposure to co-marketing, it’s nothing new. Companies in the same industries have collaborated for years to serve the same audience, but better than they can alone. For instance, if your company is involved in publishing and focuses on fishing magazines, you could co-market with a publishing company that specializes in boats, hunting or another outdoor activity that would likely attract the interest of fishermen. The audiences are going to be completely similar while the niche differs.
Co-marketing often involves putting together webinars where companies co-host the event and attract a larger crowd than they could on their own. The attendees also get more bang for their buck. Sharing blogs is also a popular method that increases the amount of quality content you offer on your website, which attracts more traffic. A more concerted effort involves producing an e-book together. Working on an e-book alone is quite time consuming, but adding a partner to the mix will cut that publishing time in half.
Email marketing and telemarketing efforts can also be of great value in co-marketing efforts. The email focus isn’t much different than sharing blogs – it’s copy heavy and provides a wealth of information to a targeted group.
Companies that have given co-marketing a shot have especially benefited from the amount of time they save in their marketing efforts. Instead of branching out on your own and trying cold call prospects, partner with another company and benefit from their qualified leads, while at the same time, you’re offering your qualified leads to your partner. It’s a win/win.
Piggybacking on another company’s success means you’re gaining instant approval by association with that company. Co-marketing allows you to build trust with a new audience much faster than you can on your own. With co-marketing efforts, this audience, which is new to you, has been introduced to a new brand – it’s basically been introduced to them without any effort on their part.
Blue Valley Telemarketing offers proven processes that allow you to reduce the cost of acquiring new audiences. The professionals at BlueValley are highly trained and can increase your subscription conversion rates and help you generate more profitable, actionable leads. Co-marketing strategies are a specialty at BlueValley. Call them today and get started.