A stable co-marketing partnership is without doubt one of the higher methods to achieve a beforehand untapped viewers, generate constructive publicity, and create a wealth of worthwhile advertising and marketing collateral. When executed proper, it is a mutually helpful, completely productive solution to enhance your advertising and marketing efforts as an entire.
Aligning your self with an trade peer can repay in spades, however these sorts of relationships aren’t simple to start out and maintain. Your companion’s pursuits and qualities want to enrich yours, and the businesses you’re employed with must be dependable sufficient to constantly pull their weight.
Finding an organization that matches that invoice is tough in its personal proper, however as soon as you have recognized one you need to work with, you are confronted with the challenges of efficiently contacting them, corresponding with them, and convincing them to work with you.
Those processes may be laborious to determine by yourself, so to give you some assist, we spoke with three HubSpot specialists about how they discovered robust co-marketing partnerships and the steps it is advisable take to do the identical.
What do you search for in a co-marketing companion?
When requested about what they search for in a co-marketing companion, our specialists all appeared to agree that the primary precedence is alignment in viewers, messaging, and picture. As HubSpot Senior Marketing Manager, Margot Mazur, put it, “We look for partners who speak to similar personas and address their needs. Specifically, we want to make sure our partners have a similar audience and voice — with similar values and goals to meet.”
Though discovering an organization that checks these bins is central to a profitable co-marketing partnership, there’s nonetheless much more to the method. You may establish a possible companion that traces up nicely along with your model id and appeals to an analogous viewers, however co-marketing partnerships should be productive and mutually helpful — it is advisable know you will get one thing out of it.
According to HubSpot Marketing Manager, Diego Santos, “Once we are happy with [a potential partner’s] suitability, we classify them according to a co-marketing matrix — one that takes the partner’s popularity, relevance, and objective into consideration. This process helps us to prioritize collaborations and look at the big picture.”
Ideological and objective-oriented alignment is not sufficient. There must be laborious, quantifiable potential behind a co-marketing partnership. As Mazur stated, “We also look at a potential partner’s audience across social and email channels, making sure that our businesses are of a similar size.”
Co-marketing partnerships are, at their core, strategic performs. They may be invaluable property in focused advertising and marketing efforts. For occasion, HubSpot Marketing Manager, Clara Landecy, spoke on how they are often leveraged to focus on particular areas, “I always look for partners who have a strong presence in targeted regions. Partnering with local partners is essential if your company does business in multiple languages and across the globe.”
Santos succinctly captured all these factors when he laid out the important thing questions to contemplate when discovering co-marketing companions, “We usually ask ourselves the following questions to make sure they are a good fit: Who are they? What is their area of expertise? And who — and how big — is their audience?”
It’s necessary to have a agency understanding of what you need out of a co-marketing partnership earlier than approaching potential companions. Find an organization with comparable values that may improve your means to successfully attain your target market — one that may pull its weight, complement your messaging, and in the end fit your long run objectives.
How do you method and join with potential co-marketing companions?
Our specialists confused the significance of a private contact in connecting with potential co-marketing companions. As Santos put it, “A more personal, network-oriented approach is usually much more effective than a cold introductory email or message.”
Co-marketing partnerships are inherently private, so it is solely becoming that you just begin your relationship along with your companion off on a private be aware. But how do you get there?
Well, in response to our specialists, your finest wager is leveraging sources and colleagues from inside your personal firm. Landecy stated, “To increase your response rate, ask your colleagues if they have any contacts at the companies you’re looking to partner with, warm outreach always helps.”
Santos agreed, “We always try to leverage the connections we already have in HubSpot. When we are looking for partners in a particular area, we reach out to everyone in the relevant regional team and encourage them to send ideas of potential collaborations.”
Mazur reiterated their factors however added some perception about what she does when she will’t attain potential companions by means of her colleagues, “Generally, I’ll see if anyone at HubSpot already has a connection to someone at the partner company. If not, I’ll reach out to a partnership, BD, or marketing person at the company on LinkedIn, using their InMail tool.” As I discussed earlier, irrespective of the way you attain potential companions you want to take action with a private contact.
Do your homework. Make positive you will have a agency grasp on the character of the corporate you are contacting, what it’d want out of a co-marketing partnership, and what you are able to do to go well with its aims and pursuits. Or as Landecy stated, “Make sure your outreach is personalized! Showing you did the research before reaching out shows you are invested in the potential partnership and makes their work feel special!”
But for instance you do not have the know-how and private connections to establish and attain potential co-marketing companions. You’re at a loss relating to discovering firms whose measurement, values, and pursuits line up with your personal.
What are you able to do? Well, there are particular instruments designed to expedite the method. For occasion, Crossbeam is a useful resource that leverages CRM knowledge that can assist you discover and join with potential co-marketing companions with overlapping buyer bases and different complementary attributes.
Ultimately, a stable co-marketing partnership has great potential that is solely seen after great effort. It typically takes in depth analysis and significant thought simply to establish the businesses that fit your values, objectives, and qualities. And truly conducting the required outreach and communication to determine one provides an entire new, typically exhausting layer to the method.
Still, there’s loads to be gained from these sorts of preparations. If your online business is on the lookout for a shot of life to your advertising and marketing efforts, pursuing a co-marketing partnership is one thing to contemplate.