Reach and Delight (The Right) Customers with Cooperative Marketing
Suppose you buy a new phone. You’ll probably also need to buy a screen protector and case. But don’t worry – the phone store offers a range of both from different companies. They are bundled with the phone at a cheaper price.
A phone shop that bundles its products with complementary ones is an example of cooperative marketing. This offer uses products that you already have to invest in when you buy a phone and leads you to buy.
In this way, the collaboration partnership drives leads and sales in a more organic way, rather than spending time and money on a campaign over the phone, for which screen protection is great.
What is cooperative marketing?
Cooperative marketing arises when several companies work together to create a larger, more valuable offer for customers. It uses each company’s expanded resources to reach a larger audience – or a new audience.
Regardless of whether there is a partnership with direct or complementary competitors, everyone can enjoy the familiarity and Company a cooperative marketing campaign offer.
Now that you’ve got a pretty good idea of how collaborative marketing works, let’s look at some examples of companies that have stood out through their campaigns. This strategy leaves a lot of room for experimentation – some can even be used as part of their business model.
Let’s dive in below.
Examples of cooperative marketing
Cooperative marketing can occur in many different business areas. You have most likely seen cooperative marketing in action around you. Let’s look at examples of other companies’ tactics that you can use yourself Campaign planning.
1. Cafe Integral + Freehand Hotel
Freehand hotel is an independent hotel chain with locations in New York City and Chicago. It promotes business trips in sophisticated, upscale environments. In the hands of Freehand there is a café belonging to the local chain Cafe integral.
The Freehand website has a page about the cafe where customers can see the benefits of a monastery in the lobby of their room:
Travelers who need a morning pickup can enjoy a quick drink from their hotel. You wouldn’t have to get in the rental car to have an espresso or go to the next bar. And when guests have vouchers for a free meal or drink, they get coffee in the room fee.
If guests of the Freehand Hotel love the drinks from the Cafe Integral, they can visit the independent hotel in Lower Manhattan, New York, and thus bring more loyal customers to the customer.
2. Growl + The special bombs split
A split is a common term for the music industry that describes two acts that come together in the same publication. The audience can enjoy original and cover versions of each artist’s music. They are a great way to discover new music and give musicians new opportunities to promote their work.
This division comes from label colleagues The special bombs and Growlsand it offers two original songs from each band and two covers of the other’s most popular songs:
For one price, viewers get two bands and the opportunity to play new, exclusive versions of old favorites. You can also hear professional cover versions from another band that could become their new favorite.
3. Vegancuts Snack Box
Subscription boxes are another example of cooperative marketing in action. Instead of buying individual products at once, consumers can pay a price for a bundle. In this way, marketing messaging can focus on the value of product discovery.
The Vegancuts snack boxHere you can, for example, try snacks from several different brands. There are usually a variety, such as cookies, fries, and candy. Although this isn’t necessarily a marketing campaign, subscription box companies like this can use theirs Business model as a cooperative marketing tactic.
4. Streaming Service Bundle
Disney +, a popular streaming service, offers a package for customers. Customers can access it for a few dollars more than the standalone subscription price Hulu and ESPN. This way, customers can have films, sports and shows at one price.
Disney’s marketers who bundle the services invite fans of different ages and interests to sign up for the service. Disney is family-friendly, Hulu has original shows and films, and ESPN is all about sports. This enables any company to receive new subscribers and cross-promotional content from Disney.
5. Sony + Naughty Dog Games
It is not uncommon for new video game consoles to include a copy of a popular game so that players can learn to control them. To the Sonys PlayStation 4 Release, the pack-in game was Naughty Dog’s Uncharted 4. This was a great opportunity for cooperative marketing between a video game console and a game development company.
Uncharted 4, which was sold with every new PS4, meant that Naughty Dog’s game was suspended Millions of players. This is an incredible reach that the game company would probably find difficult to achieve on its own.
Fans were given a new game to play with their new console, Sony had to sweeten the console offering, and Naughty Dog earned more leads, making this partnership a home run.
6th HubSpot webinar
As part of Adjust 2020, an educational webinar series, “Advertising in a time of crisis“is a conversation between one of HubSpot’s general project managers. Google CanadaMarketing manager, a Facebook IQ Lead Marketer and the Director of Paid Media at Wunderman Thompson.
These heads came together to discuss how companies should advertise, how to delay the messaging of targeted advertising campaigns, and how to measure the success of those campaigns. This webinar is completely free and offers the B2B audience excellent insights into current topics from industry leaders.
This offer offers all participating companies a greater reach. Collaborating like this webinar is a great idea if you’re thinking about ways to cooperatively market on a budget.
Are you considering adding collaborative marketing products or strategies to your next rollout? When thinking about the right way, don’t forget to consider yours Business goals and audience.
From there, you can make a decision based on the benefit of all parties – including partnerships. If you’re part of a small business that doesn’t have a lot of resources, a cooperative strategy can be an incredible way to expand your network and share resources to generate more business.
