Nick Ferris continues his discussion on marketing tips and tricks with insights into how marketing swaps can last a lifetime.
Many marketers say this won’t work in their particular sector but you’ll be surprised as I haven’t seen one yet that it doesn’t.
Pretty much every product in the world has competition but it also has complementary products. If you sell soap, it may be hand towels. If you sell cars it could be gas. If you sell chicken if could be breadcrumbs. Nick Ferris argues that people often fail to make the most of their complementary product groups.
You can call it piggy backing or co-marketing or swap marketing but whatever terminology you want to use the theory is the more you develop key relationships with partners that are non competitive, the more you can double, triple, quadruple your marketing impact by having these products also market for you.
Nick Ferris says this could be as simple as a list swap, co-registration on a website or a simple mention in an email. But you’ll be amazed how often marketers fail to develop these relationships. Over time these can lead to drastically reducing marketing CPAs, the ability to launch new joint venture marketing campaigns or even products.
Throughout his career Nick Ferris has launched magazines, newsletters, subscription businesses, and often done multi million dollar deals with partners that had zero cost. It was all built on relationships, on developing trust and building great brands. If you have quality products and marketing, people will want to be associated with you. Make that most of that equity as it can be very valuable and you’ll be surprised how far you can get on zero dollar spend.
Nick Ferris is a global marketer with over 25 years of B2B and B2C marketing experience. For more marketing tips and insights check out his other articles.
