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Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing, where business takes
shape. And before we begin today I want to thank you all once again for tuning in. The
Brand, so to speak, is growing. There are more of you watching my videos, sharing my
videos, commenting. So I thank you all and encourage you to continue doing that and to
share with your friends.
So today is Recon Thursday, and were going to talk about something called “Cooperative
Marketing: Sharing the Load.”
So, what is cooperative advertising? Well, simply put, it’s just where you develop
a campaign in conjunction with some other brand, some other product and you collectively
marketing together.
Now, a lot of people do this. What you do is that you share the load so to speak. You
share budgets, you share connections, and this is a very good thing because now, for
instance, if you were taking out a newspaper ad, whatever that size is, and you were doing
it in a cooperative fashion with another company, you might only be spending 50% of what the
budget would have been. So, now you are getting the same reach, the same amount of exposure
for half the dollars.
Now, you’ve noticed I am holding in my hand here an iPod Nano. I got this for Christmas
and I absolutely love it. And there is a great example here for cooperative marketing.
Inside this iPod is technology that captures my running, how fast and how far I’m going
and it uses this Nike+ software that keeps track of all of that information so that when
I plug my iPod into my computer, iTunes pops up. So I have the ability to grab more songs
to enhance my running so to speak. But also it asks if I want to log into Nike+, and when
I do it automatically uploads all my running information into Nike+. But it also gives
Nike the opportunity to market running materials and outfits and other sorts of things to me.
So, talk about an effective campaign between Nike and Apple. Cooperative marketing does
work and it’s something for you to consider as well.
How do you find a good cooperative marketing partner? Well, just look all around you. See
who’s out there already branding, see who’s out there that might already be doing cooperative
marketing branding with somebody else and see if it’s a good fit.
First, is it a complementary product? For instance, let’s say you are a hotel. You
might be able to do cooperative marketing with a restaurant that’s next door to you.
That makes sense. How about a mall? Perhaps all of the different shops inside the mall
take out an ad together, a cooperative ad getting people to go to the mall. Maybe there
are three shoe stores, they all participate, and somebody’s going to sell a pair of shoes
that day. Maybe it’s an event. You’re trying to get somebody to a festival. You
just want everybody to show up at the festivals.
So, there are all sorts of different ways to do cooperative marketing. Virtually every
kind of marketing channel, every kind of promotion you can think of is a way to do cooperative
marketing. But what you are really trying to do is just make it happen. And the only
way it’s going to happen is if you take the time to think about a possible strategy
and then approach those companies, brands, products that you think might be complementary
with respect to marketing and see if they want to help you share the load.
Just like this iPod shows the cooperative marketing efforts between Nike and Apple,
cooperative marketing does make sense. You’ve got to be creative, you’ve got to find the
right complementary partner but if you do I think you will accomplish some great things
and you’ll certainly save on your marketing budget or have twice the budget to spend in
the future.
That’s our Recon Thursday for today, try to stop by tomorrow for Digital Friday. And
I’m Jim Glover, That Branding Guy, for Once a Day Marketing, where business takes shape
and you’v eheard this before but I’ll say it again, we will see you next time.