Cross-Promotion

Cross-promotion is a marketing strategy in which two or more companies work together to jointly advertise their products or services. This method aims to increase sales and profits through synergetic advertising messages.

In cross-promotion, companies with similar target groups join forces for joint advertising campaigns. These collaborations can be limited in time and focused on specific campaigns.

The main objectives of cross-promotion are:

• Increase sales figures through increased awareness.

• Cost savings in the marketing budget through shared advertising expenditure.

• Reaching new customer segments through the partner company.

• Improving market positioning through associative links.

The most common methods include:

• Vouchers or discounts linked to a partner product.

• Joint trade fair appearances, events or competitions.

• Reciprocal advertising, such as TV commercials on the partner's channels.

• Cooperation with organizations to raise awareness of certain topics.

The choice of a suitable cooperation partner is crucial. A balance is important - products should be neither too similar nor too different. Successful cross-promotions result when both partners can benefit from the collaboration.

One example of successful cross-promotion is the cooperation between Porsche and the Fairmont hotel chain. This collaboration enabled both companies to reach new target groups and strengthen their image at the same time.