In a business climate that is cutthroat at times, weâ€™ve often found that collaboration is the secret to success. And, without wanting to sound like a childrenâ€™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.
Itâ€™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 Iâ€™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 doesnâ€™t just reward your company; itâ€™s an excellent way to position yourself as a newbie company among larger and more successful companies. After all, if youâ€™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 donâ€™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 youâ€™ll benefit from two audience sets.
- Collaboration introduces new expertise. You might be the best in the biz, but youâ€™re probably not the best in every biz. Collaborating with another company allows you to learn from top execsâ€™ expertise and experience to highlight new trends, identify areas of growth, and show your customers all that you have to offer.
Andrew Fayad is the CEO ofÂ eLearningÂ 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 Americaâ€™s most ambitious young thought leaders, entrepreneurs, executives and small business owners.