Cross-promotion marketing presents limitless revenue growth potential and brand equity for any brand. It not only brings down operating costs but also helps to foster your company with consumers via the creation of collaborative services. Cross-promotion marketing is an intelligent tool that can take your business to the next level. You have to invest in many strategic partnerships with other known brands to make it big.
Cross promotion refers to the expansion of the marketing reach of a product by advertising across different mediums. It also establishes links with other companies by showcasing each other’s products.
Although online marketing has come a long way ever since its inception there are many aspects which have not been fully explored. If you integrate cross-promotion with your existing marketing strategies you can successfully enter new markets piggy-backing on the other channels.
Cross-promotions have emerged as a powerful yet cost-effective approach for the generation of more sales and expansion of your marketing efforts. Cross-promotion marketing is a technique where you are able to get another business partner who is into selling complementary products so both of you can cross-promote each other.
Cross promotion can help a business build its brand by tapping into the marketing leverage of the partner firm for getting more leads. It has been tested by many established businesses across the world. Few ways for carrying out cross-promotion are as follows:
1. Partner with Non-Competitor Brand: Partnering with a non-competitor brand is seen as a proven way of business expansion to new markets. The ideal partners for cross-promotion are usually influencers, local businesses, NPOs or even businesses which fall outside the present niche. It is important that the nature and type of content to be shared is discussed amongst you and your potential partner to ensure its relevance to the markets which it will be targeting.
2. Cross-Promotion via Newsletter: Cross-promotion marketing is popular even with mobile applications. There are many tools which are used for automating the promotion processes. You can find partners who want to go in for cross-promotion using either of the two approaches:
3. Social Media Cross Promotion: Social media is seen as a great influencer which has shaped consumer decision-making to a great extent. It has been proven by the statistics that the purchase decision of nearly 46 percent of consumers has been influenced by social media. Cross-promotion will only add to the credibility of your brand. It can be done in the following manner:
4. Cross-Promotion via Content Marketing: Content marketing has emerged as a popular online marketing tool which has established itself over the years. It has come to reflect the internet behavior of many users who search online for relevant and engaging content. Cross-promotion of content marketing is a highly useful way for the expansion of reach to new markets. Here are some cross-promotion marketing techniques for content marketing:
5. Pinterest Cross-Promotion: Although it is not as big as Facebook or GooglePlus but is a great tool for cross-promotion. The images tell the story of your brand and product which create a backlink to the original content.
Cross Promotion marketing has established itself as a smart tool for reaching new communities and expanding to new markets. It is a highly effective approach which makes marketing even more efficient.
Anuja is the Co-founder and CEO of RedAlkemi Online Pvt. Ltd., a digital marketing agency helping clients with their end to end online presence. Anuja has 30 years of work experience as a successful entrepreneur and has co-founded several ventures since 1986. She and her team are passionate about helping SMEs achieve measurable online success for their business. Anuja holds a Bachelors degree in Advertising from the Government College of Fine Arts, Chandigarh, India.