In a business climate that is cutthroat at times, we’ve often found that collaboration is the secret to success. And, without wanting to sound like a children’s television show, working together has been an asset to strategic marketing for us at eLearning Mind (ELM), a business dedicated to revolutionizing learning and development (L&D). By aligning with like-minded brands for events, communication, and even media publications, any company can reap the benefits of teamwork across the corporate divide.
It’s not just about public relations. Introducing collaboration as a marketing strategy can help instantly grow your customer base without spending a ton of money; a perfect plan for cash-strapped startups. It might not be the most mainstream marketing method, but I’ve seen our company swell with new contacts, a larger audience, and even more expertise.
Could a collaboration be the piece missing from your current marketing plan?
The Benefits of Making Alliances
Collaborating with other businesses doesn’t just reward your company; it’s an excellent way to position yourself as a newbie company among larger and more successful companies. After all, if you’re having lunch at the popular table, it automatically makes you one of the cool kids. And the benefits extend far beyond ego-stroking and event invitations.
- Collaborating makes for cheap marketing. When you don’t have a ton of cash in your marketing coffers, collaboration allows you to yoke yourself to businesses that have more marketing power. Inviting a larger firm to post on your industry blog, for example, garners good press and means you’ll benefit from two audience sets.
- Collaboration introduces new expertise. You might be the best in the biz, but you’re probably not the best in every biz. Collaborating with another company allows you to learn from top execs’ expertise and experience to highlight new trends, identify areas of growth, and show your customers all that you have to offer.
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Andrew Fayad is the CEO of eLearning Mind, a creative agency focused on designing custom multimedia and digital learning experiences.
BusinessCollective, launched in partnership with Citi, is a virtual mentorship program powered by North America’s most ambitious young thought leaders, entrepreneurs, executives and small business owners.