If you’re not running any cross promotions, you should be. Cross Promotion is an extremely valuable marketing technique that involves promoting other product(s) targeted to the customers of a related product. It usually involves two or more parties.
It’s a great way of tapping into the network of another business or product and targeting that group of partners without investing very much. It’s a win-win situation for all of the parties involved.
Advantages of Cross Promotion
Nearly all of the top brands have included Cross Promotions in their marketing strategies.
Why is it a win-win? Take note of these features:
Customer Touch Points
Cross promotions involve the use of customer touch points. A customer interacts with a brand at various levels and at various times and these customer touch points can be used to promote partner brands as well. Cross-promotional partnerships typically engage parties who share the same audience. They might each sell related products or services but not competing products.
Win-Win
It’s a win-win situation for all the parties involved. In a cross promotion contact, everyone gets what they need, for example one party may look for money or customers while the other needs more exposure.
Less Cost More Reach
Running cross promotions is an easy and economical way for brands to reach more people.
Brand Equity
Sometimes, partnering with a big brand may result in increased brand equity of the brand concerned. It also positions your brand, service or product as valuable because the consumer is exposed to it via a product or brand they already know, like and trust.