Your industry doesn't take much into account when creating an overall co-marketing strategy, but it will determine who you work with. Nevertheless, the general co-marketing strategy guide will be quite similar across all industries. Follow these steps to set up your own co-marketing strategy: 1. Determine your goals Before moving forward with a co-marketing relationship, you need to clearly identify and define your goals. Have a meeting with your marketing team or people who know your brand best and figure out what you want to get out of the holiday season. Is there a new product you want to promote? Is your goal to generate leads so you can launch with a wider audience in the new year? Do you want to make a big push on social media?
Do you want to rethink or reinvent fax list 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 , 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 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.