Cross-marketing: types, tools, plan development
Posted: Tue Dec 17, 2024 8:14 am
What is it? Cross-marketing pursues the same goals as other types of marketing: increasing sales, attracting new clients, improving reputation, etc. The main difference is the joint participation of partner companies in promotions and events.
How to use? First of all, you need to find a partner who will be interested in the same goals as you. The next step is to develop an action plan. After that, you can choose the tools, the time of the campaigns, and evaluate the effectiveness of the campaign.
What is cross-marketing in simple words
The technology called "cross-marketing" was first used by companies in shop the nineties of the last century. This term means the unification of several enterprises to conduct advertising campaigns that are beneficial to all participants. Cross-marketing, or, as it is also called, co-marketing, quickly gained great popularity due to its effectiveness in attracting customers.
The technology is based on the unification of companies with different profiles. Cross-marketing is usually used to sell related products or services. Organizations enter into a partnership agreement and develop a common scheme for conducting an advertising campaign. At the same time, they are not direct competitors, but work with the same target audience .
What is cross marketing
What is cross marketing
Let's assume that a restaurant visitor orders a banquet at his favorite establishment, and as a gift, the administration gives him a discount coupon for purchasing products at a gourmet boutique. In this case, the restaurant and the gourmet shop are not competitors, but their activities are aimed at satisfying the needs of people who love exquisite food.
A gourmet boutique, in turn, can offer its customers a bonus coupon for visiting a restaurant or receiving a gift there when purchasing goods for a certain amount.
In order for cross-marketing to yield the expected results, you need to choose a partner whose activities at least partially cover your target audience. For example, a jewelry store and a hunting store should clearly not cooperate, because such advertising will not bring the desired effect.
At the same time, partner companies may pursue different goals: some want to attract new clients, others want to increase the popularity of their brand, etc. Therefore, it is important that the target audiences of the companies overlap.
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People who are not competent in the field of advertising technologies sometimes confuse cross-channel marketing and cross-marketing. It is important to understand that these are different terms. The first option involves the use of several advertising channels by one company to enhance the impact on consumers. The second is the cooperation of several companies to achieve the goals of all partners.
Some buyers use several communication channels when making a purchase. They can write to the company, meet with the company manager offline, visit the website, call and ask questions, or get information from the media.
Cross-channel marketing technology is used in companies where the user needs to register or contact a manager to make a purchase. In this case, it is convenient for the consumer when he is offered several communication options from which he can choose the appropriate one.
An example of cross-marketing technology is the collaboration between BMW and Louis Vuitton. BMW Group released the BMW i8 in 2014, and Louis Vuitton created a series of travel bags that are ideal for traveling in this car. As a result, both companies acquired new customers and benefited.
Read also!
Website traffic: how to find out and increase it
Website traffic: how to find out and increase it
BMW Group attracted Louis Vuitton customers to the new model of cars, emphasizing their attention to detail. In turn, BMW customers turned their attention to the Louis Vuitton brand as a manufacturer of comfortable and fashionable accessories. Both companies expanded their customer base and benefited from the joint advertising campaign.
How to use? First of all, you need to find a partner who will be interested in the same goals as you. The next step is to develop an action plan. After that, you can choose the tools, the time of the campaigns, and evaluate the effectiveness of the campaign.
What is cross-marketing in simple words
The technology called "cross-marketing" was first used by companies in shop the nineties of the last century. This term means the unification of several enterprises to conduct advertising campaigns that are beneficial to all participants. Cross-marketing, or, as it is also called, co-marketing, quickly gained great popularity due to its effectiveness in attracting customers.
The technology is based on the unification of companies with different profiles. Cross-marketing is usually used to sell related products or services. Organizations enter into a partnership agreement and develop a common scheme for conducting an advertising campaign. At the same time, they are not direct competitors, but work with the same target audience .
What is cross marketing
What is cross marketing
Let's assume that a restaurant visitor orders a banquet at his favorite establishment, and as a gift, the administration gives him a discount coupon for purchasing products at a gourmet boutique. In this case, the restaurant and the gourmet shop are not competitors, but their activities are aimed at satisfying the needs of people who love exquisite food.
A gourmet boutique, in turn, can offer its customers a bonus coupon for visiting a restaurant or receiving a gift there when purchasing goods for a certain amount.
In order for cross-marketing to yield the expected results, you need to choose a partner whose activities at least partially cover your target audience. For example, a jewelry store and a hunting store should clearly not cooperate, because such advertising will not bring the desired effect.
At the same time, partner companies may pursue different goals: some want to attract new clients, others want to increase the popularity of their brand, etc. Therefore, it is important that the target audiences of the companies overlap.
Find out which IT professions
are in the TOP-30 with income
from 210,000 ₽/month
The GeekBrains team, together with international career development specialists, have prepared materials that will help you start your journey to your dream profession.
The selection contains only the most popular and highly paid specialties and areas in the IT sphere. 86% of our students, with the help of these materials, have decided on a career goal for the near future!
Download and use today:
Pavel Simonov - Executive Director of Geekbrains
Pavel Simonov
CEO of Geekbrains
pdf icon
Top 30 Most In-Demand and Highly Paid Professions 2023
Will help you understand the current situation on the labor market
doc icon
A selection of 50+ free neural networks to simplify your work and increase your earnings
Only proven neural networks with access from Russia and free use
pdf icon
TOP-100 job search platforms from GeekBrains
List of verified resources of real vacancies with income from 210,000 ₽
Get the collection for free
Click animation
pdf 3.7mb
doc 1.7mb
Already downloaded 32403
pdf icon
People who are not competent in the field of advertising technologies sometimes confuse cross-channel marketing and cross-marketing. It is important to understand that these are different terms. The first option involves the use of several advertising channels by one company to enhance the impact on consumers. The second is the cooperation of several companies to achieve the goals of all partners.
Some buyers use several communication channels when making a purchase. They can write to the company, meet with the company manager offline, visit the website, call and ask questions, or get information from the media.
Cross-channel marketing technology is used in companies where the user needs to register or contact a manager to make a purchase. In this case, it is convenient for the consumer when he is offered several communication options from which he can choose the appropriate one.
An example of cross-marketing technology is the collaboration between BMW and Louis Vuitton. BMW Group released the BMW i8 in 2014, and Louis Vuitton created a series of travel bags that are ideal for traveling in this car. As a result, both companies acquired new customers and benefited.
Read also!
Website traffic: how to find out and increase it
Website traffic: how to find out and increase it
BMW Group attracted Louis Vuitton customers to the new model of cars, emphasizing their attention to detail. In turn, BMW customers turned their attention to the Louis Vuitton brand as a manufacturer of comfortable and fashionable accessories. Both companies expanded their customer base and benefited from the joint advertising campaign.