One of the most valuable assets a brand can have is a captive audience. Engaged audiences lead to higher conversion rates and retention rates and greater brand satisfaction.
However, building and engaging a broad audience takes time — especially when starting from scratch. A great solution to this problem is a co-marketing partnership to expand reach and credibility.
In a co-marketing partnership, both companies promote a piece of content or product, and share the results of that promotion. By levering the relationship and reach of a partner, co-marketing campaigns are designed to deliver more leads, buzz, and awareness, with less work.
Here are three ways to start implementing co-marketing so you can quickly grow an engaged audience.
1. Look for Co-Marketing Partners That Are a Good Fit
The first step of starting any co-marketing program is to find partners who are a good fit. This means finding brands that offer services complementary to your own (you don’t want to promote competitors!) and then building a mutually beneficial relationship from there.
Just as you’d conduct research to find the best customers in your strategic ABM program, you should do some background research to find out which marketing partners would make the most sense. Make sure to set criteria about what you’re looking for, considering things like their audience, reach, and whether you want to work with them long-term.
If no brands come to mind immediately, here are a few ideas of where to start finding co-marketing partners:
- Reach out to niche bloggers in your industry
- Search social media groups and online forums
- Create a designated co-marketing landing page to attract potential partners to you
- Identify industry influencers or experts
Pro tip: If you reach out to a brand and they decline a partnership, ask them if they know of anyone else who has a partnership program and is open to collaborating. Co-marketing, meet referral marketing!
2. Start Contributing Guest Content at Least Once a Quarter
Contributing guest content through guest blogging is one of the best ways to get the most out of your marketing partnership. Plus, some partners even pay guest contributors to write for their blog.
Guest blogging adds value to both parties. The blog needs additional content to build up their website’s credibility. And the contributor extends the reach of their brand, builds relationships with a broader community of marketers/organizations, and even builds their own website’s SEO by adding backlinks to their brand.
Pro tip: In order to see the best results, be consistent. Contributing at least once a quarter (or even more frequently if possible), is a great way to get your brand out in front of a new audience with regularity. The benefits will build over time as you identify great topics that resonate with the audience.
3. Use Events to Extend Your Marketing Reach & Build Partnerships
Another great way to build a marketing partnership is to co-host or co-sponsor events together. Some examples of great affiliate events include webinars, virtual events, or industry functions held in person.
Unlike guest content, where the benefits typically manifest in the long-term, events engage live audiences immediately. Not to mention, they require a bit more collaboration between partners, which can lead to longer-lasting relationships.
Some of the benefits of hosting an co-marketing webinar include:
- Increasing the number of people attending the webinar
- Answering FAQ with your audience in real time
- Extending your reach
- Building brand loyalty and trust
Pro tip: Collaborate with your marketing partner on the content of the webinar or event, then rehearse what you’ll say beforehand. That way, attendees will know exactly how your brands fit together and why purchasing your product or service will help them solve a problem.
Marketing partnerships have many untapped benefits. By finding the right partners, you can ensure your efforts will build your own audience. Contributing guest content through blogging will help build credibility and brand awareness. And finally, co-hosting webinars and events together will extend your reach and help you engage your audience in real time.
By executing an co-marketing strategy, you’ll strengthen your partnerships as well as earn your own engaged audience.