You’re missing out on sales. That is unless you’ve already leveraged your marketing channels through cross-promotion. If not, your competitors are free to gobble up the market share and solidify brand loyalty among your potential clients.
We can all agree inexpensive marketing tactics that elevate your brand above the competition are a win-win. Co-marketing benefits the customer and your chosen industry affiliates while effortlessly promoting your company at negligible or no extra cost.
Looking for a cost-effective marketing strategy to help rocket sales? Let’s look at five benefits of a successful cross-promotion campaign along with some easy ways to get it implemented.
Widen Your Reach
It’s a beautiful thing when two (or more!) industry-adjacent companies make introductions to the other’s audience. Start by checking to see where your chosen partners have the largest following. If it’s on social, you might leverage the other’s audience with a well-timed tag. You could also cross publish one another’s latest blog posts to your respective social media channels.
If you’re looking to double your email list, put together a collaborative newsletter. Note that publishing general industry-related content could help you appeal to larger audiences.
Tap Different Market Segments
Many companies cross-promote to new market segments with a special product or service. For example, Target did, and they have had major success co-marketing with high-end designers who were looking to reach the retailers mid-level market base. The result: empty shelves and soaring sales.
Link building is another great way to get in front of potential customers and increase your Google ranking. Start by creating a partner page on your website. Once you’ve targeted a high-performing site, add them to your own. Email the editor or marketing lead to let them know you appreciate what they’re doing and you’re sending additional web traffic their way via your site. There’s a good chance they’ll return the favor.
Enter New Markets
Poised for expansion? It takes effort to build your online presence in a different city. Start by getting on board with other local businesses. Target some native social influencers or popular long-standing establishments to join you in hosting a contest or product give-away.
Make sure you’re also checking the online community to see whose blogs are already getting traction. The right collaboration will introduce your brand to their readers (aka: your target audience).
After making contact with all the movers and shakers you can find on and offline, focus on what you can offer their followers. The more hype you can create, the better off both parties will fare.
Strengthen Your Industry Connections
Companies that are in your wheelhouse are prime candidates for creating symbiotic cross-promotion. They’re also likely to respect you for bringing additional attention to their brand. With this deepened connection, don’t be surprised to see a spike in your referral-based business.
One way to solidify your connection with industry leaders is to host a webinar or business brunch. It’s the ultimate show of respect and is a fantastic way to get your respective followers in the same room.
Improve Brand Reputation
Reputation marketing is big business. Successful companies can no longer afford to neglect it. Managing your online reputation is a full-time endeavor, but that doesn’t mean it can’t be fun and rewarding too.
One of our favorite ways to improve an online reputation is to partner with a non-profit or support a good cause.
Charitable sponsorships are known to gain traction and can be even more effective if co-sponsored. For example, try hosting a supply or food drive on behalf of your business’ favorite charity. Let the organization know what you’re doing ahead of time to plan out a robust cross-promotion strategy.
The Takeaway: The Perfect Partnership
Keep in mind that a cross-promotion campaign is only as good as the partnership itself. Do your research and select your collabs based on the products and services that provide the most value to your current customer base.
In the end, you’re looking for an audience that’s comprised of qualified leads. Just keep in mind that those leads will ultimately associate you and your chosen partners. Make sure their marketing prowess aligns with yours and let the leads roll in.