By using cross-marking in a marketing campaign all parties involved have skin in the game because they all depend on each other. Other partners know that if they do or don’t fulfill their end of the agreement it could affect their business in either a positive or negative way. This entices everyone involved to do their best to maximize all outcomes.
What Is Cross-Promotion & How Does It Work?
Cross-Promotion is also known as Cross-Marketing. The bottom line is that it is a multi-segment marketing strategy in which different brands or companies work together to better promote each other than if they did it individually. You should not be using an undifferentiated marketing strategy that focuses on an entire target marketing that includes only a single promotional effort. Expanding the reach of a company or brand usually results in the business connecting with potential partners to generate additional value for both partnering companies.
Such cooperation between various companies is also beneficial because they can significantly reduce the budget for promotion by almost 2 times, they can become partners and receive other benefits.
Cross-Promotion works by taking all the data from one entity and putting it on a marketing reporting platform to analyze and optimize another marketing brand’s efforts. This results in helping to expand the reach of someone’s own brand and creates more and better-targeted advertisements. It is also important in choosing the right partner so that they can trust they have their brand’s best interest at heart. This ensures that the customer stays loyal to the brand and will in turn increase awareness and boost conversion to a much higher rate.
Why Should You Implement Cross-Marketing To Be Part Of Your Strategic Marketing Management?
You should implement Cross-Marketing as a section in your Strategic Marketing Management to improve the shopper’s experience through enhanced personalization. This will give you more ways to reach your customer due to the multiple channels that your brand is associated with. Cross-marketing is so important that Forbes even published an article covering the steps to publicize your business through cross-promotion. Below we have added some key reasons why Cross-Marketing should be used:
- You Can Optimize Your Customer’s Journey
- Increase Engagement Among All Channels
- Building Up Your Brand To Be Even Stronger That Builds Better Relationships
Why there are a ton of positive aspects to Cross-Channel Marketing, there are a few difficulties that may arise if you aren’t prepared.
- Being Able To Reach Certain Audiences At The Perfect Time
- Recording Essential High-Quality Data That Helps To Develop Implementation
- Choosing The Correct Advertising Channels
- Selecting Precise Marketing Attribution
By being prepared with the due diligence that is required to implement cross-marketing correctly you will see results of the highest dividends for your company or brand.
When Is The Best Time To Implement A Cross-Marketing Campaign?
A Cross-Marketing Campaign should be implemented when companies are starting to increase their marketing efforts. You should start by building promotional partnerships with potential companies that you can see your company becoming partners with. Once you establish a solid relationship with your new partners you should begin to set goals.
No true success is made without proper planning of the main goals. This is when you need to highlight any key factors that your company needs to both grow and develop. Goals such as increasing brand awareness are almost always at the top of the priority list for cross-marketing campaigns. This also helps when you share advertising or an event with your partner business that will not only increase the brand awareness but will save money as well.
Using exit-intent popups is ideal for keeping customers on the site for as long as possible. This works by tracking a user’s mouse movement when trying to leave a website and triggers a popup just before they click. Developing an enticing offer on these popups could convert any visitor if done correctly.
Some Fundamental Working Cross-Marketing Ideas
There are so many factors involved when it comes to cross-marketing, but we have narrowed it down to 4 extremely important ideas.
- Social Media Cross-Promotion
- This is accomplished by collaborating with another business and promoting each other’s products or services on social media by using cross-media marketing.
- Suggesting Podcasts & Having Podcast Guests
- With the growing interest in podcasts, it is only natural to promote podcast guests as well as suggest partner podcast channels so that you can be reciprocated accordingly.
- Appearing In Influencer Videos & Featuring Influencers On Your Website
- With influencers having such a huge following in your business niche it is a great tactic to work with them appearing in one of their videos promoting your business. It is also good to host them on your website because if fans of theirs know that you work together you can gain new potential customers.
- Blogging Cross-Promotion
- Guest blogging on popular sites that are directly related to your business in some way is a great way to get new customers to click on your website. For example, this could consist of blogging for attorneys or many other industries.
By implementing these 4 ideas you will be able to capture a huge portion of the younger market that may not be obtained by traditional means.
These cross-marketing strategic marketing innovations that we’ve mentioned above are just a few of the many ways to take the awareness of your brand or company to a whole new level. Every marketing strategy specifies different needs, but ensuring that you have the customer’s best interest at heart will always create the most return on your marketing investment.
Tim Absalikov is the Acting CEO of Lasting Trend SEO in NYC. Tim is an expert in technical optimization. He has a deep understanding of SEO, SEM, UX and UI considerations, shopping campaigns, PLA, RLSA, dynamic retargeting, works with E-Commerce and Web Analytics.