20 Stats That Make the Case for Co-Marketing in 2020
As a billionaire inventor and CEO, the fictional Tony Stark, also referred to as Marvel’s Iron Man, worked his way to the top from the corporate ladder while repeatedly saving the world on the side.
In spite of Stark’s impressive achievements, their career success and robotic super-suit weren’t what made him a legend.
In fact , Stark’s best Wonder Comics storylines began when he joined up with The Avengers to save the entire universe.
Although Stark has been fully capable of saving Earth alone in his super-suit, he or she knew teaming up with other superheroes would allow him in order to save multiple planets.
Marketers can learn a lot from Tony Stark.
While our brands might be capable of reaching basic targets all on their own, pooling marketing resources, combining skill sets, and jointly producing campaigns with other non-competing businesses could help us reach much broader audiences. This tactic is recognized as co-marketing.
Although co-marketing could be incredibly beneficial to you and your partner’s brands, it will still take some time, planning, and coordination when it comes to finding a co-marketing partner plus launching mutually beneficial advertisments.
Like any good marketer taking into consideration a new tactic, you’ll want to know that co-marketing can be efficient before devoting resources into it. And yes, you’ll likely wish to research more than just the super-hero analogy I’ve made over.
To help you make the case intended for co-marketing, here’s a list of 20 statistics that prove why you ought to consider this strategy in 2020.
20 Co-Marketing Stats to Know in 2020
The State associated with Co-Marketing in 2020
- After viewing co-marketed campaigns, 68% of shoppers are able to make buying decisions before even speaking to product sales representatives. (PartnerPath, 2019)
- Almost all companies surveyed in 2018 were already active within internet marketing partnerships and affiliate marketing programs. The few that were unable were active planning to maintain the next 12 months. (Partnerize, 2018)
- 54% of companies say partnerships drive more than 20% of total company income. (Partnerize, 2018)
- 34% associated with marketers say that co-marketing or brand partnerships are the most effective ways to increase an email subscriber listing. (Ascend2, 2017)
- 74% associated with companies say partnerships and affiliate marketing campaigns are a high or very high priority for businesses. (Partnerize, 2018)
- In 2018, just 5% associated with companies said they’d invested less in partnerships than in 2017. (Partnerize, 2018)
- More than half of respondents in a 2018 partnership survey said relationships were driving more customers and sales in that calendar year than in 2017. (Partnerize, 2018)
Partnership and Co-Marketing Tactics
- Brand relationships that leverage digital stations see 4X the pipeline of non-digital partnerships. (Impact, 2019)
- 84% of vendors with brand partners provide money to those partners to get co-marketing expenses. (PartnerPath, 2019)
- 30% of vendors will offer you co-marketing reimbursement if their brand partner can prove ROI. (PartnerPath, 2019)
- Roughly 11% associated with marketers say “partnership posts” are their brand’s many engaging type of social media content. (HubSpot, 2020)
- Many brands prioritize large partnerships, versus thousands of smaller partnerships. Roughly 34% of leading manufacturers have 50 to 99 partners, while 67% associated with brands have less than a hundred. (Partnerize, 2018)
- Only 2% of brands surveyed by Partnerize in 2018 acquire more than 1, 000 manufacturers. (Partnerize, 2018)
- In 2018, 33% of CEOs mentioned they planned to prioritize strategic partnerships, which could involve co-marketing partnerships, in 2019. (KPMG, 2018)
- The top brand name leader priorities include choosing more partners (27%) and strengthening relationships with existing partners (23%). (Partnerize, 2018)
Co-Marketing and Brand Partnership Success Stories
- The particular Yeezy shoe line, a collaboration between Adidas plus Kanye West, enabled Adidas’ net annual rose simply by 19. 5% to $1. 9 billion in 2019. (Bloomberg, 2019)
- Buffer plus Social Chain’s Brand 2019 Brand and Social Media Review resulted in 17, 000 download page visits in just one week and more than 3, 1000 shares across social media. These results were higher than an average article shared on either of the sites. (Quuu, 2019)
- When Estée Lauder and a top U. S. retailer developed joint Google Ads that promoted the retailer and the brand’s fragrance products, the typical ad click share rose by 70%. (Google, 2020)
- In 2018, Coors Gentle teamed up with National Geographic to launch a series of video ads taking place in Iceland. The campaign reached ten. 5 million people plus resulted in a 6. almost eight percent lift in brand favorability. (Facebook, 2018)
- In a recent case study, a video gaming app company partnered with another brand in a cross-promotional campaign that was coordinated by Aarki — a mobile marketing agency. The gaming app received a 32% rise in downloads shortly after remarketing ads to the partnering brand’s contact list on social media. (Aarki, 2020)
The Benefits of Co-Marketing
Co-marketing can offer a long list of benefits, especially if you want to pool your resources to create a large-scale marketing campaign. Along with the statistical benefits seen above, there are a number of other qualitative benefits such as:
- Audience exposure: Through co-marketing and cross-promotion, your content or brand information will be shared with your own audiences as well as your brand partner’s. This enables your brand to achieve increased reach. For example , whenever local or online stores start Google Ads showing which they carry Estée Lauder fragrances, fans of the perfume brand name might visit or follow that store for the first time.
- Increased trust and favorability: If a potential customer trusts the brand you partner with, they might trust you when that brand encourages your name, logo, or content. For example , when Adidas teamed up with Kanye Western to create the Yeezy collection, people might have bought a pair of Yeezys because they trusted Adidas’ quality and West’s feeling of style.
- Cost-effective content: When you team up with another brand, you could be able to make an agreement to split time or creation costs, or you can trade one brand strength for another. For instance , if you’re a small brand joining up with a larger brand, you may be able to utilize the bigger brand’s budget and gain a lot more exposure on their channels. At the same time, the bigger brand might be able to power your niche social media target audience..
Since you’ve learned about the benefits plus stats related to co-marketing, get inspiration from these successful real-life examples of the tactic. To get more on how to find the right co-marketing partner, check out this handy information.
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