How to reach new customers with strategic partnerships [Pitch template]

While competition is a natural part of business, not every company that sells to your target customers is competing with you. Some may also be potential partners you can collaborate with through co-marketing .

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Here’s what you need to know to get started with co-marketing – from the different types of co-marketing campaigns to finding and approaching suitable strategic partners.

Learn how to pitch a co-marketing partnership.

What is co-marketing?

Co-marketing is a marketing approach in which two or more complementary companies work together to promote each other’s products or services. By forming a mutually beneficial strategic partnership with a non-competing company, turkey email list both parties can reach new audiences and market more effectively.

The exchange between co-marketing partners can take many different forms:

• • • Leveraging anot

her brand’s reputation while promoting it to your customers

• Exchange of email addresses collected in a joint campaign

carried out with shared resources

• Collaboration on content , 5 techniques to increase user interaction on your blog e.g. by appearing on each other’s YouTube channels or gift guides, by co-hosting a podcast, or by taking over each other’s Instagram accounts
• Cross-promoting each other’s products to your respective audiences through an email campaign or product bundle
• Offer free product samples to qualified customers through the orders of your partner and their customers a nice surprise.

Is co-marketing the same as co-branding?

An example of co-branding is an Apple Watch from Apple with a strap designed by Hermès , a luxury accessories brand.

Source:Apple

Co-branded products can be part of a co-marketing campaign, switzerland leads but co-marketing generally refers to two or more brands working together by promoting each other to their target audiences.

<strong>The benefits of co-marketing include:

• • Reaching new target groups of potential customers by collaborating with companies that have the sameBuyer Persona , but belong to a different product category
  • Reduce costs by pooling resources</strong> such as marketing budgets, sales channels, networks, talent, etc.
  • Sell ​​more products by exposing yourself to another company’s customer base
  • Generating press coverage , as brand collaborations are often newsworthy, especially when an established name is involved
  • Expanding your network to include valuable connections in parts of your industry that you may not have had access to before (e.g. tow truck drivers strategically partner with auto repair shops by exchanging each other’s business cards, as both service cars that need repairs but at different points in the customer journey)