The cost of attracting new customers may vary depending on the region or area of activity. Cross-marketing allows you to reduce costs through deep segmentation. For example, an online store sells equipment and electronics of different categories.
If a decision is made to conduct cross-marketing, personalized offers can be made for customers, using which customers will receive pleasant bonuses from the store's partners. For example, when buying a camera, a person will receive three free lessons from a photo studio, and when buying a computer, a coupon for a discount when calling a technician to set up the operating system. It is the personalization of offers that allows you to reduce the costs of attracting customers.
When two or more organizations pool their financial investments shop in an advertising campaign, this will give them the opportunity to conduct larger-scale events than when working alone. There are two options here: you can reduce advertising costs several times, or you can afford to conduct a campaign that was previously unavailable. Partnership cooperation allows you to optimize the budget.
Replenishment of the product range matrix using partner funds
A wide range of products will be an advantage in the eyes of consumers in almost any area. It is easier for a person to make all the necessary purchases in one place than to search for the necessary goods in different stores.
Here it is important not to miscalculate with expenses on logistics, storage and other costs. At the same time, the flow of customers will clearly increase, as they will purchase not only your product, but also the goods of partners. Some entrepreneurs even put partner products on sale at the purchase price, as they still remain in profit due to the increase in the number of buyers.
Examples of cross-marketing
In early December 2021, Yandex, together with Wargaming, launched the Yandex Plus World of Tanks subscription. Players could choose one of three tariffs developed specifically for them. By purchasing one of the Yandex Plus packages, users received bonuses in the form of game ammunition, currency, weapons and other benefits. In order to attract the largest number of users, the first month of the subscription could be used for free as a test period.
In addition to the bonuses offered, all other Yandex services also remained available to users. The content of the packages was updated monthly, which allowed customers to maintain interest and made them want to track new offers.
The world-famous retailer Amazon, together with the financial company American Express, issued a co-branded payment card to support small businesses in the United States. After some time, the opportunity to use this product also appeared for businessmen in Great Britain.
