Sharing marketing resources using cross-promotional campaigns has long been a trusted mainstay in a company’s advertising toolkit. Cross-promotional campaigns can be a great way to reach more customers, save money, and build connections within the business world. But it can also lead to wasted time, money, and reputation if done haphazardly. Before you partner with another professional, it is important to think carefully about whom you partner with and what goals you want to accomplish. Thoughtful consideration is the best start to crafting a strategic partnership that works.
Here are some questions to ask yourself when considering a cross-promotional marketing campaign:
Is it a natural fit?The business you collaborate with should make sense. Partner with another company that is in a business similar to your own industry. While it wouldn’t be smart to join forces with your direct competition, those that are in closely-related fields can be a great choice.
Who are my customers? Defining who your target customer is and their habits, interests, and values can help you seek out partners that also cater to the same group. One prime example of this is Redbox video rental boxes located outside of fast-food restaurants and drugstores. Think creatively to find avenues in which to reach your audience.
How do we each benefit from the partnership? There needs to be benefits for each party involved. If not, the one getting the short-end of the stick is bound to feel dissatisfied and eventually end the relationship. Share with each other individual goals to develop strategies which accomplish them on both sides.
What does each partner bring to the table? Take time to consider each partner’s strong points. If one company has a robust Facebook following, they may be best used for online promotion. Play upon the marketing strengths of each other to accomplish joint endeavors.
At GMS, our team can help to craft winning strategies for your small business. Whether it is strategic partnering or individual marketing campaigns, we provide our customers tools and programs which fit their unique needs. With a focus on sales growth and brand awareness, we are the Chicago area’s trusted marketing partner.