Learn what co-marketing is, and how you can get started with your own co-marketing partnerships.
Marche Adams's insight:
This article relates to and gives us an understanding of what Partnerships in the business world involves and what the concept of co-marketing entitles. As stated marketing is always evolving therefore this means that marketers have to learn a vast amount on developing new strategies, tactics and terminology. Co-marketing as I understand is a form of relationship marketing, marketing efforts is doubled increasing the benefits from promotion i.e. when launching a new product. This also allows for both parties to reach a whole new audience, one you may not have been able to if you went at it alone. Finding the right partner is important of course one that would be complimentary to your existing brand.
Last week Henriette wrote a blog post about the importance of connecting with your fans on a personal level when brands communicate on socia (RT @voziq: How Customer Service on Social Media Helps Your Brand [Infographic] | Mindjumpers
In today's society technology has fast evolved, and social media has become a new crazed frenzy among businesses/ organization to create a high level of brand awareness, especially when consisdering their target market of conumers and potential consumers between the ages of say roughly 16-25.
This article illustrated the components of connecting with your customer-base on more of a person level and how that may lead to you growing a srtonger relationship with them as well as them gaining a higher trust in your brand.
its sugested that if you havent yet used social media and a tool then this should be implement as soon as possible because
"Customers expect brands to maintain an active social media presence. They have a very strong voice, and social media really amplifies that voice exponentially".
This article also states that 60% of companies are missing out on vital opportunities to engage with customers by not responding to the comments and conerns being voiced through different social media platforms.
With todays generation becoming more techno focussed and techno savy, it would be a good idea for companies to become more familiar with social media exposure as it does contribute a great deal towards brand exposure.
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Marche Adams's insight:
The purposes of this article were to inform not only organisation/business but as well as consumers about the importance of building a brand. Five specific reasons where given as to why that ive gained the understanding of!
1- Value- allowing you to charge more as they see a higher value proposition therefore being less price sensitive. As stated they see beyond the price as they have this emotional connection and want to be associated with a “strong brand”.
2- Clear point of difference- this usually contributes to a competitive advantage over those who may be offering the same goods or services. A strong brand sets you apart from the rest.
3- Brands are memorable- if your brand has made that impact in the mind of your prospective consumers then you have a higher chance of making onto their “shopping list” as they have put it as brand recall and recognition is a great contribution to a strong brand.
4- Emotionally engage-“with their prospects – and when someone is emotionally engaged (with anything), it is much harder to sever the ties and look elsewhere”.
5- Brands are an asset- brands are worth something, if in future you decide to sell your business there has already been value created on your brand. Having one if the first place may be what created that interest.
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