With so many food startups in the market, even the survival becomes questionable at times. Thankfully, some smart entrepreneurs take refuge in co-marketing and succeed. In plain words, when multiple enterprises get marketed together, we call it ‘co-marketing’.
Co-Marketing: An old concept getting more popular; so, take care of these facts when co-marketing your product –
1. There’s no disagreement – Your counterpart in co-marketing will try to get the maximum space in the campaign. That’s obvious. But, the amount of coverage depends on the ratio of the budget the two parties spent.
2. Creative part – Since, two enterprises are coming together, there are chances of clashes on the creative part. But it is the imaginative aspect of the branding, there certainly could be a balance. Neither left nor right – choose the midway, if colors are more apt for their brand, let the font be more suitable for yours.
3. The method of Marketing – Different brands have their own ways of promoting the product – whatever suits the brand persona! Try having an extensive discussion on which the marketing strategy would go well with the image of the companies.
Co-marketing is light on your pocket and surely can prove to be a boon if done wisely. Share what you think about this concept in the comments below.