On social media, success is typically not determined solely by budget, as creative ideation and excellent execution are enough to drive your business to the next level. Every start-up business that wants to expand or grow its brand needs to be smart with its marketing tactics. The way they promote their products and services online can be their edge over big companies. And the usual first step for small businesses is to reach a bigger audience.
One of the most effective ways to grow an audience is to partner with another significant and relevant online identity. Right now, every entrepreneur must be familiar with influencer marketing, but it is only one of the many kinds. If you think it is the only option for fast and effective audience growth, you need to learn about social media collaboration.
Types of Social Media Collaboration
Social media collaboration is joining forces with other big brands that you believe can help you. If you want to try partnering with brands soon, here are the different types of collaborations you can explore and have an agreement with:
- The Partnership
A partnership is a formal or informal agreement between two brands, wherein a brand proposes a long-term working relationship with another brand. In this relationship, they aim for the same business objective, and both make their ways to pursue it. Eventually, the two share what they earn from the partnership, such as leads, revenues, and rewards.
For example, brand A and brand B want to grow their audience. They would then make an effort to achieve the goal and share the results of their hard work later.
- The Collaboration
This type is usually a short-term campaign or project. Two brands work together until the end of the campaign and then share the rewards later. For example, if they both sold the same items together, they would later split their generated sales. Another example is using the same marketing material and posting them on both pages to be available and shared by followers of both accounts.
- The Cross-Promotion
This practice is the most common of all since it is similar to what influencer marketing does. In this method, a brand asks another brand to post about their products on their page. Essentially, you make the other brand a reliable promoter to the audience that already believed in them.
You can even explore various social media channels and tools for this option. For example, it could be an influencer post, a promotional video, a giveaway, a guesting, a webinar, and so much more. You will also do the same for their products as part of the exchange.
- The Content Placement
This setup is to give added exposure to your product by including them in the feed of another brand. In this campaign, the two brands agree to promote each other’s products or services from time to time. The products are not necessarily the key focus of the photo or video, but they exist in the picture for additional publicity.
Combining forces with another big brand to improve your digital marketing presence is an excellent way to reach your target audience faster. It can be an advantage, especially when you choose the right partner and develop a sound campaign strategy. There are various ways you can collaborate with another social media presence, so choose which is the best one for your project. Remember that both parties should benefit one another and make sure that you come up with a social media content collaboration agreement to formalize everything.
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