All posts in “Inbound Marketing”

A young businessman and boy dressed in business suit and racing helmet is pushing his box car and using his competitive drive to steer his business to new levels.

How to Use Co-Marketing for Your Next Promotion

When searching for new ways to market your next promotion it’s important to remember it’s not always about the flashy tech or latest trends. Sometimes it’s the strategic partnerships you create that take your promotion to the next level. Co-marketing is one of the best ways to bring a bit of excitement into any promotion, and there are cost saving benefits as well. Here are some of the best applications of the co-marketing concept for your next promotion.

 

What Exactly is Co-Marketing?

Co-marketing is a marketing partnership in which two or more companies share resources, data and costs that would otherwise fall on the shoulders of a single company. The combined perspectives of the participating companies should hopefully provide a more comprehensive view of the commercial landscape and lead to more successful results.

 

How Co-Marketing Works

Your marketing campaign has holes in it. Don’t get mad; it does! Sometimes, a fresh set of eyes is the only thing that can draw focused attention to the problems. You will have insights that your partner(s) will not, and vice versa. You will also be able to bring assets that your partners don’t have, and once again they will have assets that you want.

 

For example your partner may have a customer database that would align with your brand, and would be perfect for you to market your product or service to. If this is the case why not create a joint promotion? Creating a promotion with the right partner has huge upsides. You can share resources, share costs, and advertise the promotion to your respective audiences. If you create an awesome promotion (like the ones Peazie do) you have the potential of thousands of entries. When you share the data obtained from the promotion you will now have people to add to your list that were fans of your partner, and they will obtain a new a list of people who were fans of yours. You suddenly have an entirely new audience to market to and this was all from using a clever strategic partner. This strategy works incredibly well when the products that you and your partner are selling are complementary products.

 

The data that you have on your customers will also help to speed up the process of analysis. Could your buyer’s profiles use a bit of tweaking? You will find out faster if you have access to partner data that showcases an audience that you may have missed. New profiles usually lead to new directions in terms of marketing. You may prioritise different websites with banner ads or attend different industry events. You can more easily streamline successes and cull away failures if you analyse them together.

 

How to Acquire Co-Marketing Partners

The best place to start is usually with companies that have complementary products or services: If you are selling sunscreen products, then a surfwear company might be a good choice. You are not in the same direct market, but the sales of one product definitely increase with the sales of the other.

 

Does your company attend industry events or trade shows? Then this could be a great way to find companies that are looking for partners. In most cases, companies will connect with you quickly if you let it be known that you are trying to shoulder marketing costs.

 

Have you taken a look at your current list of work contacts? Chances are there are several complementary businesses you already work with that would make the perfect partner for a promotion. Make sure that you focus on companies that are similar in scale – smaller companies could probably be too much of a burden, and larger companies may require too much from you.

 

In short, the right partnership can be great for your company. Put the word out, set your expectations, and see if you can create a co-marketing campaign with a helpful partner business.

 

rolls of blueprints

Perfect Planning: Before and After the Promotion

The success of a promotion in any industry depends on the implementation of some general strategies that are relevant in all corners of business. Here are a few vetted tips that you can use to help improve the viability of a promotional campaign.

 

Before the Promotion

Are you sending the right traffic to your promotion landing page? You must be sure that you are optimising your target audience by streamlining it directly at a single source. Believe it or not, this is the way to expand your reach. You can also employ a multitiered strategy by using Facebook Ads, a PPC campaign and an email campaign that will bolster your overall exposure if executed concurrently.
Make sure that your traffic is targeted; the wide net strategy is not viable in any market. The more precise you are in targeting your niche, the better your promotional campaign will be. Make sure that you find your first responders at their preferred location as well.

 

During the Promotion

You must set the key performance metrics that you are looking to fulfill so that you can properly direct your promotion when it is in its active stage. This will help you to strategise your concept, making it more appealing to the audience that will be most likely to act like you want to fulfill your business objective.
Your campaign should also take advice from your previous campaigns – there is no reason to overlook the lessons that you have already learned in the past. Finally, remember that one of the most effective ways to create a higher conversion rate is to choose an engaging incentive and mechanic. Pay attention to how your audience responds to your lead ins!

 

After the Promotion

Do your customers know exactly what you want them to do after the conversion action? Are the directions on your promotion clear? Continue to direct your customers after the initial conversion, and make sure they receive what they opted in for.

 

Also are you using social media or emails to continue to drive customer engagement after the active promotion is over? Target the most enthusiastic of your new converts and empower them to spread your brand like an informal PR team.

 

These tips will definitely give you a leg up for your next promotion. However, here at Peazie we have run a few campaigns in our time. To create the ultimate competition that delights your customers and brings a value there are a host of things you need to think about from creative and data-driven campaign concepts, administration and permits, design and building, to tracking and optimising. Peazie has a reputation for partnering with top brands in many industries for creating premium promotion campaigns. With over 250 clients on board, Peazie has experience across the board as well, ensuring that your promotional campaign is built on the successes of the past!

 

Group of people at a business meeting

Inbound vs. Outbound Marketing: Pro’s and Con’s

The debate of Inbound vs. Outbound marketing has become increasingly one-sided over the past few years. Many marketers across the globe have all but jumped ship on the traditions of Outbound marketing, instead placing the Inbound method at the core of their strategies.

Is it smart to ditch Outbound marketing? Should marketers be focusing solely on bettering their Inbound successes, instead of sticking with the dwindling ROI Outbound is reportedly providing?

The answer is quite a complex one. Although experts and gurus are readily pushing Inbound like glowsticks at a 90s rave, the truth is it varies from business to business, and from strategy to strategy, while the line between both methodologies is not as polar as one might expect.

To help you decide if Inbound or Outbound are right for your campaigns, here’s a quick rundown of a few pros and cons.

 

What is Outbound marketing?

Outbound marketing is any type of marketing that reaches out to prospects and leads, more often than not with the specific intention of closing a sale. Traditionally, these have included things like TV, Radio, direct mail, and event marketing, as well as telesales, door-to-door canvassing, and general cold calling. In the digital sense, this also covers things like PPC, email blasts, and banner ads.

Pros

  • Deliver a single message en masse: Whether it’s a commercial, banner ad, or email blast, being able to get a single, concise message to a specific audience is a huge benefit.
  • Quick results – easier to optimize: In the digital sense, it can be quite easy to know when outbound marketing is working, and therefore easier to see where improvements can be made.
  • Potentially generate a huge amount of brand awareness: One of the biggest plus points to Outbound marketing is it gets your brand in front of eyes. After all, one of the main goals of outbound is to get more eyes on your brand.

Cons

  • Often feels less authentic: The main gripe that marketers have with outbound, is the sense that it is not as authentic, and thus less appealing than inbound.
  • Expensive to succeed: Mass audiences and fast results don’t come cheap. Without plowing a decent budget into your outbound efforts, chances are your single message will reach fewer eyes and ears than you need it to.
  • One and done: Reliance on outbound methods can mean that once this advertising stops, so does the attention and sales it generates. In many ways, adopting a completely outbound approach can make it harder to focus on anything else without taking an initial hit on your conversion rate.

 

What is Inbound marketing?

Inbound marketing is the golden child of the marketing elite. Essentially, it is any type of marketing that improves the likelihood of attracting prospects and leads to your brand, including things like blog posts, SEO, ebooks, and more creative content, and more recently app-based marketing.

Pros

  • Cheaper to succeed: Inbound marketing is not always cheap, but improving the chances of success can be more cost effective than with outbound. SEO, blog posts, and content marketing, for example, are all cost effective to produce and implement.
  • Ongoing success: Inbound isn’t “one and done”. Over time, the more effort and focus you place on creating content, the more likely your brand will continually show up in search results as a source of reliable information.

Cons

  • Success is not simple and takes patience: Although success with inbound is cheaper than outbound, it can take a lot of time to see any substantial results. In many cases, this can lead marketers to abandon their inbound strategies before they have a chance.
  • Lots of noise: By far the biggest downfall of inbound marketing is its popularity. Most marketers are already making a huge impact with their inbound strategies, which in turn makes it harder for new brands to rise above the noise.