Beneficial for any brand that wants to broaden their audience, increase brand awareness, and offer a new type of content to their audience. It's the process of growing two or more businesses and should benefit both parties by helping each other reach a broader audience than they would alone by combining your resources.
How does co-marketing work?
The most common way to co-market is for these businesses to have similar audiences to work together on a piece of content or campaign, and promote it to both audiences.
This content typically sits behind a lead generation form to capture contact information or even better, warm leads.The goal is for both partners to share the prospects from the offer, thus getting twice the leads that they normally would.
In simpler words, you’re splitting the work and the expense of a campaign, BUT you’re able to get more out of your investment. In addition, you can drive increased reach by helping you get exposure to a new audience, improve brand awareness and increase loyalty through co-marketing.
What are the big-picture benefits of co-marketing?
Develops brand identity while portraying yourself as the industry leader.
Explore new markets without expanding.
Fosters a loyal customer base.
Provides convenience to customers.
Build relationships within your industry.
Acquire new leads.
Examples of Co-Marketing Activities:
Online, Offline or Hybrid Events.
Webinar or Video Series.
Partnered Content or Guest Blogging.
Lead Generation Campaigns, etc
How does it work?
Look for appropriate audience/database overlap
Discuss shared goals
Establish a timeline
Build a Co-Marketing agreement
Follow up and report results
Campaign goes live
Finalised and agreed content