Co-marketing is a form of alliance and collaboration between companies where they commit to carrying out joint projects in order to benefit both parties.
Obviously, the companies work together until they achieve their established goal, which is an increase in sales and customer satisfaction.
Many might think that co-marketing and partnership are the same thing, but this isn't the case.
Co-marketing is different because the relationship between the companies is less intense and short-lived: once their objective is reached, the alliance is suspended.
The marketing phases in which co-marketing can be developed include:
- Through analytical marketing: companies agree to reduce costs associated with market research.
How to attract new customers with co-marketing?
We can start creating a co-marketing strategy by choosing the right partner for us, one that can help us achieve our goal; we can find them based on these criteria:
- Choose a business similar to yours and not competing.
- Their audience must be very large.
- The company should be similar to yours in terms of level, so not too important to work with you.
Once you have chosen your partner, you need to propose an idea for collaboration that must be very interesting and that can also benefit the other company.
Once the right partner is found, we establish goals to agree upon:
- Decide how the advertising campaign will be structured and what will be the benefit for each party.
- Determine the responsibilities of each partner.
- Define the objectives of the campaign, so as to understand the outcome of the campaign.
- Establish which are the trackable links to use for attributing the results of online co-marketing campaigns.
- Give before you receive: Co-marketing only works if you are willing to offer something that is worth your partner's time and effort. You must give before you receive.
Once the goals are established, you are ready to launch your product on the market!
You can do it too, you just need a lot of commitment and an excellent marketing and sales platform.
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