Collaborative marketing involves working with other brands to share resources to increase leads, spread brand awareness, and improve market influence. Many large national companies participate in collaborative marketing efforts. They may collaborate for a charity or just because their brands go together well.
Small businesses can collaborate too and reap the same rewards as larger companies. What are the benefits of collaboration for your small business?
Shared Audience
Choose collaboration partners that share your audience but aren’t your direct competition, so your collaboration improves your business. For example, a fashion designer might team up with a jewelry designer to create promotions, ads, and even specials that work together. Both these small businesses promote these to their audiences.
It’s All About Relationships
For collaboration to work, it’s important that you focus on the relationships you’re building. These relationships are not only with the businesses you are collaborating with but with the new prospects you are marketing to.
Share Content
Since you’re collaborating, you can share your marketing content in a new way. Each collaborator can contribute a certain number of blog articles, posts, emails, and white papers. Then each collaboration partner can use the content so that everyone has more content to use to promote their products and services.
Increase Your Motivation
Sometimes as a small business owner, you rarely break out of your comfort zone and try new ways of doing things. When you get involved with the right collaboration partner, both of you will find yourselves inspired and motivated to do more. You’ll want to do more because you feel inspired.
You’ll Save Money
By sharing resources with your collaboration partner, you’ll save money on marketing.
How can you use your marketing to collaborate? Take over each other’s blogs once a week. Write a shared newsletter that goes to both your mailing lists.
Don’t Be Afraid
Don’t be afraid to work with another small business owner – even one that you may view as a competitor – they may offer a product or service that is different from or complimentary to what you offer. Collaboration can grow your business, improve your brand, and expand your reach.
Who do you think you can collaborate with?