Collaborative Marketing Is The Next Big Thing
Collaboration Marketing is the process of aligning your company’s interests, resources, and marketing muscle with other like-minded companies to accomplish much more than you might be able to do on your own.
The concept has existed for a long time in advertising. You can open any airline magazine to find collective ads that promote Top Steakhouses, Top Seafood Restaurants, or even Top Plastic Surgeons.
Basically, the concept allows complementary and similar companies to unite their advertising budgets to cut the cost of a traditional ad by 10x or more (basically, by the number of participants.) The concept isn’t just about just saving money. It also provides collective strength to each participating company’s brand and credibility.
Pulling the top names together dramatically increases the brand recognition, customer value, and customer retention for each. Every time a customer flies to a location where one of the top providers operates, they have a ready-made referral to a good meal…or a good surgical experience?