Co-marketing is a marketing practice where two companies cooperate with separate distribution channels, sometimes including profit sharing. Why should you consider co-marketing for your brand?
If you find it difficult in getting clients. Don’t have experience in business field. This can be a good incitation to consider co-marketing for your brand.
Two businesses will exchange materials, tools and training in order to market the each other’s products or services. In this agreement, marketing partners may host joint marketing events or run joint promotions or sales.
You have probably heard co-branding as well. They are bit similar. If you can consider co-marketing for your brand then co-branding might also something to think of.
While co-branding refers to a partnership in which two companies combine their products or expertise to create an even more valuable product or offer (Think: Doritos Locos Tacos), co-marketing takes things a step further.
Things to look out for when you consider co-marketing for your brand.
- Do you have similar audience? difference audience will not work because both of you have to be in same niche.
- How many lead am i going to get? will I be getting something or the other person will be the only benefiting. We all want to inspire people and all but this might not be the best time to do so Read more
- Do they have same expertise? It should be a win win situation so go for someone that has a new trick of more experience and vice versa. each of you has to gain something new from the other.
- Reputation: your credibility should be your priority. Do not be dragged down ,you should be aware of the brand your going to partner with.
It is one of the most cost effective way of marketing your product and services. It is cheap. reliable and effective . You get to pull together resources what you had budget for one now can be shared.
It is low risk high impact strategy. you are giving in littlete exchange for a much more bigger result.
Co-marketing is the easiest way to win over more customers to your side. Once you can connect the dots between you and a partner brand. It is easy to expand your sale and market value.
Co- marketing campaign is an infallible strategy that will help you deliver more leads and awareness.
Co marketing is a great way for building long term relationship with industry peers and partners.
Would you consider co-marketing for your brand soon.
Thanks for reading☺️