Everyone fights for themselves in business? Sometimes, cooperation is the way to go. Brands can use a joint marketing strategy to increase their reach and strengthen their value proposition. The possibilities of these partnerships are manifold.
No matter if small, medium or large companies: Marketing co-operation can make sense in various scenarios, but have taken a backseat while other current marketing trends get all the attention. In the following, we show five forms of marketing partnerships that still promise a great ROI today.
The principle is simple: a company rewards one or more affiliates for each visitor or customer who has been redirected to its product pages. The links, which lead from one company - the so-called publisher - to the other are supplemented with a tracking code. If a conversion occurs, the publisher receives a commission. An example are comparison portals. However, other forms are also common, such as online banners on websites or, in the case of particularly close partnerships, articles placed on the website which refer to a product of the cooperating brand.
The objective of co-branding is to profit from the name recognition and positive image of the other brand. Customers who follow a brand because of their quality promise will also transfer this quality promise to the cooperating brand. Hence partner brands automatically gain the trust of a new target group.
Co-branding can be used in various areas. One example are sports associations cooperating with sporting goods manufacturers. Of course, this also works with the stars of the entertainment industry who collaborate with brands for special editions or fashion collections
Brands can also develop and market completely new products together. McDonald's cooperates regularly with other brands for editions of its McFlurry ice cream.
Content is King! Creating quality content is not always easy and in part also requires a large portion of the marketing budget. Companies can use their combined resources to optimize and expand their content marketing.
Brands can create white papers and infographics, shoot videos, write blogs or produce podcasts together. This content will of course be linked accordingly. This makes the main advantage of shared content marketing apparent: search engines reward good content. If two or more brands combine their respective range, they both climb up in the rankings.
B2B businesses can, for example, cooperate in their content marketing efforts with case studies and expert opinions to show the benefits of their products and services in practice.
Brand show their support for an event or product with sponsoring. Sponsoring can be done in a variety of ways, such as events, concerts, sporting events, media (such as TV programs, podcasts, etc.), or local events such as city festivals. Sponsoring also functions as a seal of approval: For example, restaurants and hotels use the TripAdvisor certificate to draw attention to their quality and at the same time increase the popularity of the TripAdvisor brand.
Using sales channels of cooperating partners is effective and ranges from flyers to product samples. This form of advertising is also rarely perceived as annoying: If you buy a new washing machine and a detergent sample is delivered along with it, customers will usually not mind this form of advertising and will actually consider it useful. Potential customers can therefore be easily convinced of the benefits of a product.
Another possibility are product bundles: here, products from different brands are marketed together. An example of this are game consoles, which are sometimes sold packaged with games and other accessories.