As a brand owner, there are often times when the attraction to co-promote with another brand to leverage their audience and brand values can be overwhelming and seemingly foolproof.
Every day you can read about companies joining forces to promote to related and/or new audiences. Only today, Diet Coke are launching an Ugly Betty bottle which will be available only through Selfridges, so picking off a number of segments in one swoop, putting distribution exclusively through the aspirational high street chain.
This is nothing new. PCs have come with Microsoft software for decades, Nike and Apple successfully co-promote running-friendly iPods which track your performance online.
It can be surprisingly simple and effective for businesses of all sizes to consider co-promtion opportunities. For example, florists and wedding car hire companies could easily reciprocate as could office cleaning & office equipment suppliers.
The greater challenge perhaps faces the b2b marketer, where brand and the emotional purchasing decision is removed. But this shouldn’t stop you looking. Where can you either add value to customers by adding an outside service to your offering, or extend your brand into a new niche by working with another provider, or take advantage of an association?
Always think about amazing your customers so they keep coming back.
Remember, there has to be something in it for both parties. In some respects some of the rules that apply to celebrity endorsement (see June 2009) apply here to.
1. Agree objective and ideal outcomes.
2. How will the call to action by managed? Where will the customer be directed?
3. Who controls/accesses customer data? (To that end, agree what the customer is signing up for and with who?)
4. Who controls response?
5. Who controls management/fulfilment/followup?
Co-promotion undoubtely offers another lucrative avenue to prospects, but protect your brand and your values at all costs.