Cross Promotion : Definition, Benefits, Examples and Ideas.
We’ve witnessed Cross Promotion ever since we’ve learned to read and recognize. The term might be new to us but the concept isn’t. For example –
Cross Promotion is a marketing technique which involves promotion of other product(s) targeted to the customers of a related product. It usually involves two or more parties, as it is seen in the inclusion of Visa and Mastercard in the promotion of Credit, Debit, and Reward cards. But it’s also common to see cross promotion in the promotion of different products of a same brand; a game is offered to try for free when you play any related game.
Features of Cross Promotion
Cross Promotion is a great way of tapping target group of partners without investing much. It’s a win win situation for all of the parties involved. It has following features –
Customer Touch Points
Cross Marketing involves usage of customer touch points. Customer interacts with a brand at various level and at various times. These customer touch points are used to promote partner brands as well.
Related and Relevant Products
Parties involved in cross promotion usually sell related products. It would be of no use (and could even result in bad publicity) if an educational institute partners with a liquor company.
Advantages of Cross Promotion
Nearly all of the top brands have included Cross Promotion in their marketing strategies.
Win Win Situation
It’s a win win situation for all the parties involved in a cross promotion contact as everyone gets what they need. One party may look for money while other need more exposure.
Less Cost More Reach
Cross promotion is an easy and economical way for brands to reach the more people.
Sometimes, partnering with a big brand may result in increased brand equity of the brand concerned.
Examples and Ideas for Cross Promotions
Many Fast Food Restaurant Chains often indulge in joint advertising with beverages like Coca Cola, Pepsi, etc. Joint advertising is often used to increase the brand equity of the concerned brands.
Brands may come together to conduct contests which lead to more user engagement.
Cross Marketing enable brands to borrow the brand equity of other brands concerned and use their touch points to get more reach.
Brand partnerships which result in incorporation of other brand’s product/service in one’s own product are effective way of cross promoting.
Corporate Social Responsibility projects often require brands to join hands with NGO’s and other social entities.
Brands may sponsor related events / Tv shows to get more reach. This might result more beneficial if the event is also sponsored by other Big Brands.
Cross Promotions in Digital Marketing
Influencers are people with huge reach. They belong to a particular niche and people often use their reviews and opinions to make any purchase decision. It is a good practice to use influencers to promote your brand or product.
Bloggers often guest post on other websites to get more exposure and increase their website traffic. This type of partnership is a good deal for both the parties as one party gets quality content while other gets more exposure and a backlink to his website.
Sometimes websites and influencers post content exclusively to promote certain brand or product.
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