Cross-promoting on social media can help brands generate new leads without any additional cost

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 19, 2020, 5:44 PM UTC

When implemented rightly, cross-promotion can help both parties increase their exposure and generate highly targeted leads.

A business can collaborate with another company, ideally a complimentary and not a competitor, to promote each other’s products on social platforms. It can help brands tap into one another’s audience and generate valuable, targeted leads. But, both companies should naturally complement one another and logically appeal to each other’s prospects, like Thursday Boot Company and footwear care brand Cobbler’s Choice.

Brands can create videos on Instagram, showing how products from both companies complement and support each other. Using compelling images and well-placed hashtags can further attract user attention.

Collaborating with relevant influencers and appearing in their videos can boost conversions. According to Convince and Convert, 58% of consumers have brought an item, within the last six months, because of an influencer recommendation.

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