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October 27th, 2020

Co-Marketing: Working Together for the Win

You’ve probably grown up being taught to work together as a team. In most sports, you are going to lose if you try to do it alone. If the sous chef starts doing his own thing in a Michelin-starred restaurant, they probably aren’t going to hold that title for long. Well, the same can be said for businesses – co-marketing is a great example where working together can benefit all involved.

What is Co-Marketing?

Co-marketing is where two companies combine their marketing efforts to increase the audience they reach. 

 

There are lots of potential benefits to co-marketing, including:

  • Reaching a bigger audience: This might be a no brainer but working with someone else gives your company the opportunity to get on more potential customers radars, hopefully getting lead information and new sales in the process. 
  • Builds connections: It can be good to build fruitful connections with others in your industry. 
  • Learning new ways of working: You get to see how other companies do things.
  • Extra skills: Different companies may be stronger in different areas to you, you can help each other out with what is needed.

 

Tips for Co-Marketing

 

  • Choosing the right brand to work with

    • It’s important to take some time to choose the right brand to work with for your company. A brand with a similar/ if not the same target audience that isn’t direct competition can be a good choice. Do they have a good reputation? Do they have skills you don’t? Take the time to find the right brand. 

 

  • Plan

    • xenoapp-co-marketingAs with any digital marketing campaign, research and plan your strategy well, setting goals and deadlines.

 

  • Communicate

    • Make sure that you communicate well with each other throughout the process to ensure a smooth workflow. 

 

  • Analyze Results

    • As always with digital marketing, data is king, so make sure you monitor and analyze the results from your campaigns to continually optimize your strategy and improve in any future campaigns.

 

Co-Marketing Content Ideas

Sprout Social offers some ideas for content to use in your campaigns here, including:

  • Webinars: A great way to scale your efforts, especially if you have someone that is epic at doing live broadcasts. 
  • Ebooks: Can be a great way to attract leads online and get potential customers.  
  • Videos: If you have the budget videos can be excellent tools, they can do well on social channels and have the potential to go viral.

 

Wrapping it Up

Co-marketing can be a great way for two different brands to benefit from working together. You get to double your marketing spend, learn new skills and ways of working. Have you co-marketed before? Let us know in the comments which company you work for and who you have partnered with. 

Avatar Nick
Written by
Nick
Nick is a digital marketing expert. When he isn’t writing he likes to unwind spinning records and making music.
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