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Co-Marketing

Co-Marketing

Verb

Co-marketing is the act of two or more businesses joining together for a mutually-beneficial marketing partnership with a goal of reaching new potential customers. This collaborative approach to marketing involves pooling resources and audiences to create an effective campaign.

Co-marketing can take various forms, including joint webinars, co-authored content, shared social media campaigns, or cross-promotional activities. The main goal of co-marketing is to expand brand reach and tap into new customer segments by using the established audience and credibility of each party. This approach can be particularly effective for businesses targeting similar or complementary markets, as it allows them to cross-promote their products or services to a wider pool of potential customers.

By combining their strengths and resources, companies can create more engaging and compelling content, generate higher-quality leads and generate more revenue than they could achieve individually.

Co-marketing is often used interchangeably with the term co-branding, however co-branding requires that two companies join together to market a new collaborative product, while co-branding does necessitate the companies creating a new product. Instead they are using the partnership to market their already-existing owner service or product.

Example:

An accounting software started a co-marketing campaign with a business insurance software that shares a similar ideal customer to mutually expand their reach.

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