Henry Ford once said, “Coming together is a beginning. Keeping together is progress. Working together is success”. Of course, he said this about a team working within an organization, but it is also true for cooperation between organizations.
According to the Tax Foundation, there are 1.7 million traditional C corporations, 7.4 million partnerships and S corporations, and 23 million sole proprietorships in the US.
Just imagine how many of them have products and services that can be used together and make a valuable cooperation for both sides.
Ideas like these pushed us to think of a new way for cooperation. And there it is. We created a new strategy for companies that use email marketing: Hot Lead Exchange.
What is Hot Lead Exchange?
The specialists of the Email Marketing Room developed this strategy. It allows us to cooperate deeply with other companies. What is this strategy?
1. We look for non-competing organizations that influence the audience you need.
2. We develop options for joint email campaigns, in which one company presents to its warm audience a benefit of the other company’s products and vice versa.
At first glance, this seems very simple, but organizing can be challenging. First, you need to overcome the formalities, thoroughly study the email marketing metrics of both companies, and understand whether the qualities of their audiences are equal.
Then, you should develop an acceptable campaign for both sides.
Depending on the companies’ business purpose, they can use each other’s audiences differently. For example, one company can solve a sales problem and the other – brand recognition. In short, there may be different purposes. The important thing here is that any company has its warm leads, and those leads are happy to open emails from an already-known address. If you don’t spam and create real value, you can succeed.
How to implement it
Formal issues are a big challenge to applying this strategy; employees of different companies often don’t trust each other at the first stage of cooperation and want to keep metrics private. Here, it is more effective if a third party carries out the initial organizational issues.
For example, Email Marketing Room provides such a service for businesses; the metrics of different companies and segmentation data about audiences are collected in advance. Then, the Email Marketing Room specialists look for complementary companies and organize effective cooperation. You can check the Hot Lead Exchange service for more details.
