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Cross-promotion is a great way to increase brand awareness and drive sales, especially within marketplaces where there is a high volume of potential customers.
Here are the top 6 creative ideas for cross-promoting products or brands within marketplaces:
1. Collaborate with other brands:Partnering with complementary brands can be a win-win for both parties. For example, if you sell makeup products, you could team up with a skincare brand to offer a bundled package deal.
2. Offer exclusive discounts: Providing exclusive discounts on one product when customers purchase another is a great way to incentivize cross-promotion. This can be done through promo codes or automatically applied at checkout.
“Shoppers today want to take advantage of every discount and special offer to help them get the most for their dollar. If you want to increase conversions for your business, consider offering special discounts for shoppers” – WebFX
3. Feature complementary products: Showcase complementary products on each other's product pages to encourage cross-selling. This can be done through a "recommended products" section or by offering a discount on the complementary product when purchased together.
4. Host social media giveaways: Host a joint giveaway with another brand to promote each other's products. This can be done through social media platforms like Instagram or Facebook and can help drive traffic to both brands' marketplaces.
“Interactive Giveaways can translate one-time sign-ups into long-term relationships. They help to convert visitors who sign up, into leads through a reward system. Since giveaways are quick, don’t require much effort, and provide great value in the form of rewards, people are more likely to enter their information” – Outgrow
5. Create content together: Collaborate on blog posts, videos, or social media content that features both brands. This can help increase visibility and engagement for both brands and provide valuable content for customers.
Customer Journey Touchpoints:
6. Host joint events: If possible, host joint events with other brands to promote each other's products. This could be in-person events or virtual events such as webinars or Instagram Live sessions.
“While big brands are tightening their budgets, we are going to see small businesses take over the social media influencer marketing space. Not only with their content, but with their brand-creator collaborations” – 2023 Social Trends Report by PLANOLY
Overall, by collaborating with other brands and offering exclusive deals, featuring complementary products, hosting social media giveaways, creating content together, and hosting joint events, you can increase brand awareness and drive sales for your business.
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