Do you want to rethink or reinvent your brand in some way? Once you understand these specific characteristics of your goals, it will be easier for you to come up with a plan because you will be able to communicate them effectively with your partner. Advertising Continue reading below Pro tip : It's one thing to discuss goals, but you make them happen by writing them down. Write out a formal marketing plan, with your specific goals for the season in mind (remember that marketing plans change and need to be redefined over time). If helpful, create a spreadsheet that lets you take notes and check things off as you go. 2. Set a budget Before you begin collaborative efforts with another brand, you need to consider your finances. When first meeting another business, you will likely be asked (if the business is familiar with co-marketing) what your budget is for the boost you are about to do with them. You want to at least get a rough idea of what your expenses might look like, or at least what your maximum budget is.
Pro tip: Since you're not fax list always co-marketing with another company, you don't have to spend part of your regular branding budget on the expense. You can either withdraw funds from other marketing/advertising activities you do or set aside a certain amount each year/season to co-market. When companies (or your boss) realize the value of co-marketing, it's easy for them to want to set aside a regular portion of the annual budget. However, if this is your first time trying this strategy, you may want to withdraw funds from other advertisements you are doing, temporarily. 3. Consider possible partnerships Once you've considered your own goals and strategy, as well as your funding, it's time to start considering partnerships.
Here are some things to consider before contacting or moving forward with any co-marketing partnership: Shared Audience: You want to make sure you both have an audience that is going to mutually perform from the products and services you provide. Co-marketing only works when the enhanced audience benefits both parties. It's a good idea to start the first conversation with solid ideas about how co-marketing will be positive for both brands. Opportunities and Benefits : What is the size of the audience for ? If you don't have a large following yourself, you don't necessarily want to approach someone with two million subscribers. You also want to make sure that you will be able to generate the type of leads that align with your business goals.