Marketing has become increasingly collaborative because the landscape has shifted in the era of e-commerce. The game is no longer about one brand trying to dominate a marketing platform or audience. Businesses are coming together to leverage advertising partnerships as a way to attract target audiences, build a brand, and grab a greater portion of the market.
Brands, especially private labels and direct-to-consumer companies, are seeing massive growth thanks to marketing collaboration. Partnerships allow small online retailers to reach a wider audience, build credibility, and take creative marketing strategies to new heights.
Why does marketing collaboration work well, and how can your business get involved with these trends?
What are the benefits of marketing collaboration?
When you partner with another company for marketing purposes, you’re putting your business in front of that partner’s audience. This is a great way to grow your visibility and reach.
You’re not just getting a wider reach. Your marketing partner is validating you within that new audience. They’re essentially telling their customers: “Hey, we’re working with this business because it’s amazing and shares our mission. You’d love them too!” (And you’re doing the same with your customers to promote their business.) This gives you a strong, tailored first impression to “grab” that audience quickly.
Note: That’s why it’s so important to pick the right marketing partner. If your partner caters to an audience that wouldn’t be interested in your product or service, the partnership won’t do much to boost your reach, visibility, or sales.
Partnerships establish a sense of credibility and authority, especially for smaller businesses that don’t have as much label recognition. The partnership validates that you are a legitimate company with an important mission that other companies want to take part in.
Plus, you’ll gain SEO points with inbound and outbound links between marketing partners!
If you’re stuck in a marketing rut, partnering is a great way to break loose and think out of the box. You’ll get to work with another team to brainstorm fresh ideas and campaigns, which can shed new light on your advertising strategy.
In a crowded digital space, you need unique marketing in order to stand out. Creative, collaborative marketing helps differentiate you from your competitors.
Oftentimes, you and your partner are splitting the bill of the marketing campaign. Although these campaigns tend to be a little more expansive than other campaigns, you’re still cutting your marketing costs quite a bit.
In other cases, like influencer marketing, you’re paying the influencer in entirety—but the cost usually means that they use their resources to run the campaign, which ends up saving you of time, energy, and expenses.
Collaborative marketing is a cost-effective way to build your brand and boost your reach.
Businesses will often start their partnerships based on marketing collaboration. Two companies may initially get together to create a video or an event. If the teams work together nicely and it goes over well with their audiences, the businesses might consider collaborating again in the future.
This can become the foundation for a strong partnership based on a shared mission. They might do marketing campaigns in the future, and they might even consider creating crossover products or sharing talent and services.
Smaller companies benefit from partnerships because they provide access to more resources, talent, budget, and ideas that can help boost conversions in the long run.
Trends in Marketing Collaboration
Influencers have become the vocal billboards of the modern marketing landscape. Influencers are individuals and celebrities, typically on social media or YouTube, who have a large and engaged following. Businesses will incentivize them to promote or review products, so they can gain visibility amongst the influencer’s following.
Despite its increasing popularity, partnering with influencers is still a relatively low-cost marketing solution. Influencers will pair with brands for a small fee or a few free products, especially because most influencers are just looking for new ways to engage their audience. You’ll gain visibility without breaking the bank.
Get more information on influencer marketing with the following resources:
2. Unboxing Videos
Influencers are also creating unboxing videos in which the host records the opening of the product and shares their thoughts about it with their respective audiences.
Unboxing videos are unique in that the purpose of the video is to stimulate an emotional response in the viewer. While other product reviews and how-to videos are more informational, these videos emphasize the product while associating some sort of emotion alongside it.
For example, ASMR unboxing videos are meant to relax the viewer. ASMR is a hot new trend in meditation and relaxation, referring to the “tingling sensation” on the head and neck in response to certain sound and sight stimuli. With regards to product unboxing, the video host shows the products in a way that initiates this ASMR relaxation response. So the viewer starts to associate that product with that feel-good, relaxed sensation.
This is exactly what you want from marketing. You want the ad to focus on your products while also creating an emotional response. Unboxing videos do just that.
3. Subscription Boxes
Subscription boxes have exploded in the past few years, and we aren’t seeing a trend downwards anytime soon. More and more customers are willing to pay monthly for food delivery and product boxes. Even monthly wine clubs are back in fashion. Learn about “The State of the Subscription Economy” on Forbes.
You might decide to start your own subscription company if you’re looking for new ways to sell D2C. However, the competition is fierce, and you’re often cutting your margins super slim in order to provide value to customers.
Instead, partner with well-known subscription services to get your goodies in their boxes. This is a great way to gain exposure for your business. People get the opportunity to try out your product, and they’re more likely to come back and purchase from you directly if they love your product. You’ll also get a little bump in your revenue, although you’ll have to sell your products nearly at-cost to get in these boxes.
Some of the most popular subscription boxes include Blue Apron, Hello Fresh, Dollar Shave Club, FabFitFun, and Ipsy. See a list of the 50 best subscription boxes for 2019 here. Amazon Subscribe and Save is also a popular subscription service to get certain home goods on an ongoing basis.
B2B services are exploding through digital channels, accelerating even faster than B2C. Forrester estimates that by 2020, B2B e-commerce will top $1.1 trillion in value and account for 12.1% of all B2B sales in the U.S.
B2B is growing at a revolutionary pace thanks to new advancements in technology—but also thanks to the emphasis on business collaboration. Small retailers especially know they can’t do it all on their own. So B2B service providers have come in to offer specialized services and consultative offerings to bring e-commerce companies to the next level.
This has created an interconnected network of businesses, working together to upgrade the solutions that are available for the client.
“No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” – Reid Hoffman
Collaboration is important in every facet of business, including marketing. In 2019, trends are showing that partnerships are an effective way to take your advertising strategy to the next level.
Interested in collaboration marketing? We know just the right partner for you. Seller’s Choice is the seller’s number one choice for a reason. We see our clients as partners in marketing, and we create creative, customized solutions tailored to your needs.
Reach out to Seller’s Choice now for a free consultation to find your ideal marketing partner!