Global Vox Populi (ISO 9001:2008

Certified Company, ESOMAR

Corporate Member, and MRSI

Member) is a leading Global Data

Collection, Market Research,

Analytics and Consulting firm

White Paper: How can

marketing collaboration

help your business?

Global Vox Populi

Establishing strategic marketing collaborations with other businesses is a novel

and cost-effective method to reach new customers.

One difficult situation that most brands have to face is lack of awareness which

is why for a majority of businesses; the biggest challenge for growth is finding

new audiences/ customers.

This need, when blends with limited budgets are what encourages several

brands to explore the concept of marketing collaborations to supplement their

businesses.

However, collaboration remains a deep secret of the business world and thus

not been utilized by the ones who are unaware about it. Majority of start-ups

and small businesses are working in conjunction to find new customers as it can

be most advantageous and cost-effective methods to optimize a business.

At one end, businesses are co-creating new products or conducting marketing

campaigns together and at the other end of the scale, start-ups with other

brands promote each other’s brands symbiotically to expand their businesses.

Question arises, how to set up a successful marketing collaboration and get

results within the budget?

Customer Centric Strategizing:

Considering and keeping the “Customers” in mind while making your marketing

decisions is vital to effective marketing and customer should be the main focus

while choosing which brand to collaborate with. It will include analyzing which

brands does your customer interact with more often and also which ones

complement your brand? This will give you a list of brands that you can

collaborate with.

Effective Strategizing:

Identifying which goals has to be achieved before initiation of any activity will

help you develop effective marketing strategy. Identification of your goals and

setting up certain parameters like whether you whether you want to improve

your brand reputation; or customer satisfaction enhancing customer

satisfaction, etc. Thus understanding your objectives will give you a clear

understanding as to what you should do with another brand and other aspects

of Brand fit.

An effective marketing collaboration is when the brands involved genuinely

work in tandem with each other. Once you realize what you want to achieve,

the trick is to identifying what you can offer potential brand partners as part of

business. That can include financing competition prizes for editorial coverage;

feature other peoples' competitions in your marketing in return for featuring in

theirs, etc.

Don’t get bogged up thinking you don’t have anything to offer being a startup

or small business. Searching for opportunities is the key. Being active on social

media is also well received by a specific group of consumers, which can act as

one of your assets.

You should also be prepared to invest time in creating a strong relationship with

your brand partner in return for reaching new customers and promotion of your

business in lower costs.

At the same time, it is crucial to be flexible and creative early in the planning

stage. Allocating and tracking the activities and maintaining the timelines is

equally important. By boosting the activity across email, print, advertisements or

social media you will get better return on investments for your time.

Thus, marketing collaboration can serve you well if executed efficiently. The only

limiting factor in marketing collaboration is finding brands to execute it.

Marketing collaboration is not just about saving money, it also provides

collective strength to the participating company’s brand and credibility.

About Us:

Md. Sadique Akhter is the CEO and President of Global Vox Populi – A leading

Market Research, Analytics and Consulting firm.

Email: sadique.akhter@globalvoxpopuli.com