In Pursuit of Partnerships: Co-Marketing for Beginners
Any kind of partnership can be fraught, bringing you back to the days of finding a seat in the lunchroom. A co-marketing partnership in particular is one in which the stakes are high and miscommunications are plenty. However, with the right parameters and expectations, a partnership can achieve so much more than you can achieve alone. We’re better together!
What’s the purpose?
There can be many different goals for a partnership or co-marketing campaign, but the most common is audience exposure. Getting your brand in front of a completely new set of eyeballs (whether physically or online) is an incredibly valuable experience if those eyeballs fall under your general customer umbrella. It’s also a great way to share resources and save costs for a marketing campaign or event that might be too expensive to undertake alone. Finally, though this may be obvious, partnerships are a great way to make a long-term ally. Business friends are the best friends.
What to ask
This piece from Parsnip beautifully outlines what you’ll need to ask a potential partner, as well as yourself. Prepare for partnership talks by making sure that you have clear goals, that you understand your partner’s audience and brand, and that you have great marketing ideas that benefit both of you equally. Do your research to find out whether you have complimentary customer bases, or similar values, or anything else that would make you a perfect match.
Finding a partner
Hopefully, through the food scene (or on Foodboro!), you’ve made some friends at other brands that might make good initial partners. Not the case? Don’t miss this article from Shopify on the best way to cold-call another brand for a partnership talk. You don’t need all the apps and services that they recommend! You just need an idea, a mutually beneficial goal, and some moxie. The article also points towards some great collaborations, some of which you might not have known about – use them for inspiration as you craft ideas.
A great partnership makes both brands better than they could have been separately, and creates lifelong friendships. Don’t miss out on growth, or fun, by trying to go it alone.