Marketers work diligently each day to present their business and its services to the correct people. And that means – especially in competitive industries – fighting for clicks, opens, impressions, rankings, and more.
But marketers are also known for creative thinking and embracing new channels — hence the creation of the inbound marketing strategy of co-marketing. Learn how these strategic alliances with other brands can help you advance your efforts and give you a competitive edge.
What is Co-marketing?
Co-marketing is a partnership created when two organizations with similar audiences join forces to develop collaborative marketing content and strategies. One way to look at co-marketing is to imagine your team calling in reinforcements. This partnership can help you and your partner extend your reach, stretch your budget, and create long-term relationships with like-minded individuals.
Who Engages in Co-marketing?
While co-marketing isn’t a new idea, it’s becoming more common as the number of digital marketing platforms and strategies surface. Because of this, many businesses engage in co-marketing. Large and small companies alike can benefit from co-marketing. For a large company, they have the advantage of delivering a consistent brand experience across a large audience when working with another business – due to their larger resource pool. Smaller companies benefit from those extra resources a larger company may have that they don’t.