Cross-promotion is the practice of building strategic partnerships with other brands to increase awareness and drive sales while reducing advertising costs.
This strategy helps you link arms with other businesses and ”cross-promote” each other’s products and services. By partnering with other brands, you can widely reduce marketing costs and improve your strategy.
The right cross-promotion campaign can provide you with the competitive advantage you need in the hyper-competitive world we live in.
Cross-promotion is a bit like fishing: to catch something, you need the right lure.
Some of the promotional ideas for cross-promotions are:
- Run a co-branded contest (and boost it with paid media): This will help your campaign reach a lot more people than it would organically be available to them.
- Partner with businesses in a different vertical: There is always a crossover between audiences of different businesses, this will add up for you to understand your audience better.
- Get booked as a guest on top-rated podcasts: After establishing yourself, everybody would want to know your learning gs and expertise about the business you’re in.
- Repurpose your content : The content that you post will be relevant across timelines and reposting/purposing your content will help you to get a second opening for the same.
- Organize an industry event: When done right, events can be a great way to build trust with your audience and position yourself as the go-to leader in your industry. By finding sponsors, speakers, and partners, organizing a solid event around your business isn’t that hard or expensive and since we’re at home, virtual events can be great.
- Mention influencers on your blog: The right influencers can make your brand more human and relatable. Besides, by featuring people your audience respects and admires, you borrow some of their credibility to boost yours
- Create a monthly expert roundup: This can be as elaborate or as simple as you want. For instance, you can run a co-branded monthly webinar where you and your partners invite your respective audiences. But you can also keep it simple and write a blog post.
- Write an eBook in collaboration with your partners: If you create a co-branded eBook, you’ll get way more exposure and the opportunity to build long-term relationships with strategic partners. And you don’t need to spend a year putting this together.
- Create shareable assets: Sharing videos, blogs, and articles about your business will get a lot of interaction for you. Animated videos will also be a great medium for interaction.
- Offer a discount to a partner’s audience: Loyalty programs and special sales are some of the most effective ways to delight current customers and attract new ones.
Here’s a link to the article that’ll explain each of these pointers better: https://learn.g2.com/cross-promotion
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