Cross Promotion may be a new term for you but I’m sure you have seen this in your everyday life.
Keep reading to know more about Cross Promotion from its features, advantages, disadvantages, and examples.
What is Cross Promotion?
Ever thought why your favourite YouTuber collaborated with another YouTuber for their next video or maybe while you are playing a game and suddenly another game pops up and asks you to try their free trial?
Well to explain this we have to understand why they do that?
Now when we are watching our favourite YouTuber collaborating with another YouTuber what do we do next, we go and search their video, we show more interest in their videos and contents, and thus, they see an increment in the number of audiences watching their videos. That is exactly what happens while we are playing our regular game and the new game pops up, it is our curiosity that is causing us to try and play that new game. Hence, they are getting more audiences, and also their reach is increasing.
This entire process is identified as Cross Promotion.
Cross-Promotion is a kind of marketing in which one brand targets a particular group of customers and introduces them to another similar brand.
In simple words, Cross Promotion is a marketing technique where two or more companies or brands are involved and they help each other by introducing them to a new group of customers.
Features of Cross Promotion:
The features of Cross-Promotion are:
The conversation between the customer and the company or the brand is a vital component here, as though this only the consumers build trust towards the company. Consumer trust is very important as they are the ones who help in the growth of any business.
2. Related Products
It is beneficial only if related companies help each other by Cross Promoting their brands, as this can help them to increase the customers of the same interests.
3. Low budget
It is less expensive as no major cost can be incurred while doing Cross Promotion.
We see how influential Cross Promotion has become for any business to grow and expand. This is a reason why growing businesses try to start Cross Promotion.
Importance of Cross Promotion:
The importance of Cross-Promotion are:
1. Access to large customers
As we have read before, when a new product is being introduced to us, it is normal human behaviour to read, use, and understand it. This interest, that we show toward their products helps them to get more customers. Thus, a multiplication of the customers can be seen here.
2. The low budget Marketing
marketing as always is an expensive thing, only if we want it to be effective, but Cross-promotion requires a low budget, or maybe not at all.
At times for particular products, it becomes hard for them to find a partner to promote. For instance, we usually don’t promote defence products and moreover we cannot find a similar partner.
Few Tips to Start With This:
- Have a good connection with different companies or brands.
- Discount & promo codes should be made available for the users of the Partnering brand, as it is a good sale driving force.
- A chosen partner should be related to the type of product the partnered brand or company produces.
- Having complete research about the partnered company or brand. We should have proper and clear information about the company so that in the near future our company or brand doesn’t get penalized for it.
- We can also take this Cross Promotional campaign into social media platforms where more customers can be targeted.
- During the Cross-Promotion we need to understand that we are representing our company or brand the world, thus we need to be more careful and responsible for this.
Thus, to conclude we can say that it is an efficient way for a business to expand, it can help the business by getting more customers and also by creating brand awareness. But more important is maintaining those customers by providing them with products with the best qualities and also fulfilling their demands.
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