Co-Marketing
Joint marketing activities with vendors to generate leads and sales. Working with vendors involves various activities, education, training and investment in partner marketing. The more significant the company's growth and the more significant the deals, the stronger and more reliable the vendor's support. Co-marketing events have many advantages, but there's one significant nuance - the complexity of coordinating and reporting in the vendor's format, which often deters companies.
SellPromo's expertise can assist in the agreement, description and development of marketing event strategies, as well as in the implementation phases and reporting of activities conducted. Leverage the financial and marketing support of the vendor to generate new leads and business. Run the activities and leave all the routine work to SellPromo.
When do you use co-marketing?
Financial support from the vendor
Need for large customers
Entering a new market or launching a new product
Drive revenue growth
Why is it beneficial to use the vendor's marketing funds?
Active collaboration with vendors allows a company to strengthen its marketing strategy and make the marketing plan more comprehensive and diverse. On the one hand, there's the need to comply with the vendor's strict rules or guidelines; on the other hand, there's a chance to solve your own problems by expanding the customer base and increasing sales. Financial support helps to share the financial costs and risks of conducting marketing activities. Not all companies are ready to take advantage of these opportunities, even though they offer several benefits and allow you to stand out from the competition. Successful and prominent companies are usually rewarded by the vendor, leading to stronger partnerships and even more significant investment from the vendor.
KEY STAGES
Large vendors have many different marketing and sales funds and support directions for partners. Sometimes the level of interaction with partners depends on their status and expertise, but IT manufacturers are also always looking for ways to expand their circle of partners, support small and young companies, help them with training, and increase sales, including their new solutions and products, by stimulating and motivating the sales department.
Key points to consider
Vendor Compensation
It's important to understand that allocation of marketing funds usually involves initial expenses by the affiliate, conducting activities and reimbursement of costs only after reporting to the vendor. This means that the partner must be prepared for financial investment and time for reimbursement (typically 3 to 6 months from the time of reporting).
Consider the interests of all co-marketing participants
Co-marketing activities should take into account the priorities of both the vendor and the partner, and they don't always align. There is no point in holding events and generating leads on topics where the partner lacks expertise. It's better to choose topics where the partner already has deals, experience and successful projects.
Uniqueness of creatives and content is key
Vendor-approved content and creatives are not always suitable for such activities. Of course, they are easy to use because everything is already prepared, agreed upon, and requires no additional effort, but it is important to recognize that these materials are already being used by both the vendor and other partners in their campaigns. The effectiveness of a campaign using materials that have been used repeatedly in other campaigns is greatly reduced, especially for digital activities. It's better to add your expertise to the content, include case studies and customize the materials, as well as revise the creative to reflect your company's style, which will always add uniqueness to the marketing campaign.
Reporting requirements
Whether the partner is working independently or with an agency, it's important to understand the terms of the agreement and documentation for reporting before beginning activities. Each vendor will have its own requirements. This could include a campaign description with key metrics and a list of materials to support the activity (for offline events - photos, registration list, creatives, etc.; for online activities - a technical specification for the development of landing pages and creatives, screenshots, access to analytics and metrics, contact list and leads, financial documents, etc.).
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