Today's business reality is characterized by unprecedented competition, especially for small and medium-sized businesses. More and more people are not at all enjoying the prospect of spending their entire lives working for an uncle, with a significant limit to their maximum earnings automatically attached to it. Because the "uncle" has a spending plan, which does not involve raising salaries above the market, that is de facto penny in comparison with the income of more or less successful entrepreneurs.
At the same time, today almost everyone has the opportunity to organize their own online store, as there are more and more opportunities for online promotion of goods and services. Someone is lying on the couch and watching soccer and did not even realize that the time killed for 2-3 games, enough to give a start to their online business.
Our ancestors, even the most enterprising, never dreamed of this. And now a very popular tool - cross-marketing, which works great for offline sales and online trading. Despite the fact that the first attempts to use this method of popularizing business in the West, dating back to the early 90-ies of the last century, today's opportunities in the field of online gives cross-marketing new facets. In Russia, however, cross-marketing was only used more or less actively by major brands in the early 2000s.
Surprisingly, even today not all business owners are fully aware of the intricacies of such an effective tool. And in vain, because the skillful handling of the nuances of cross-marketing can accelerate the pace of promotion. Cross-marketing - one of the most effective methods of online promotion, and therefore the features of this tool is undoubtedly worthy of detailed study.
Cross-marketing is a complex of diverse activities aimed at a mutually beneficial collaboration of several organizations or brands. Cross-marketing assumes the joint analysis of client base data and also provides for development and realization of a common advertising strategy for advancement on the market. In the case of similarity of target audiences, such a friendly "pairing" gives the opportunity to benefit all participants in the joint project - more effective promotion and a parallel increase in sales of goods and services.
If a company decides to use such a tool as cross-marketing, it needs to find a partner and develop a common marketing strategy with the ultimate goal and to the interrelated target audience. Experience shows that when properly implemented, such interaction always brings the expected result. And one of the most significant advantages of such a marketing move is that the customers of one cross-marketing participant should become consumers of the goods or services of the second participant, and vice versa.
An illustrative example would be a collaboration between a grooming salon (a salon with a range of pet care procedures) and a pet clothing store. In this example, the same target audience (pet owners) and sold similar products and services. The result is mutually beneficial cooperation and customer growth without fierce competition. Cross-marketing has proven itself in the promotion of brands since the 90s and to this day, this marketing technology brings high results, increases sales and reduces the cost of advertising their products. The main thing is to come up with an effective collaborative idea that works.
Collaborative cross-marketing style promotions have long gone beyond the usual offline promotions (for example, when buying one product - the second product was a gift or a discount). More and more businesses and brands are incorporating Internet technology and interacting with online resources (e.g., Burger King and World of Tanks).
Types of practical cross-marketing as a means of promotion
Representatives of different schools of modern marketing prefer to structure the types of this tool in their own way. But in terms of the potential interaction time of two or more organizations, most experts note two main types of modern cross-marketing:
From the description of the term cross-marketing it is clear that this marketing move provides a positive result and a potential truly plentiful benefits, sometimes inaccessible if limited to the usual advertising. Let's look at what specific benefits in promoting products promise such a partnership:
In short, cross-marketing not only allows you to increase sales in a short period of time, but also expand the core of loyal customers with the highest level of brand loyalty. And this is the foundation for stable, long-term development.
With all the apparent benefits of cross-marketing, you shouldn't forget the pitfalls of this method. Despite the fact that it is possible to level out almost all of the disadvantages with a competent approach to practical implementation, it is important to understand the risks that can be expected. Informed - is armed, so let's analyze the potential problems in detail:
By analyzing the above disadvantages of cross-marketing, we actually get detailed instructions on how to avoid mistakes by implementing this technology in practice.
Working with an axe (for example, chopping firewood) requires an order of magnitude less professional skills than skilled control of a microscope. Cross-marketing is a fairly versatile tool, which in skillful hands can bring sometimes unexpected (in a good way) results. A prerequisite - the professionalism and experience of the marketer, who is responsible for the implementation of activities. Any business owner, to tell the truth, wants to spend as little as possible and get the best result possible. In this context, cross-marketing in some cases, and in the right hands, just an indispensable marketing tool, because well chosen partner and a well-developed strategy virtually minimize the financial cost of implementing cross-marketing activities.
As a result, the customer base grows and even more - those groups become loyal customers who without cross-marketing cooperation might not even know about the product at all. And this is sometimes impossible to achieve using standard advertising methods. The conclusion is without alternative: cross-marketing in terms of prospects for promotion is clearly advisable to adopt any modern business. Especially if the state has professionals not only in marketing wars, but also in the construction of friendly marketing relations.