Following the pandemic, all businesses have moved online and have focused on marketing to their customers over the internet. The competition for e-commerce brands has increased tenfold, and it is harder than ever for them to get seen by their potential customers.
Online marketing has descended into a costly bidding war for advertisement space, and all brands are looking for a way out. At CrossMyStore, we’ve found the answer.
Instead of brands competing for advertisement space online, we’re promoting brand partnerships to allow them to join forces, pool marketing resources and reach whole new audiences for mutual benefit. We call it Cross-Store Selling, and it is the future of collaborative marketing.
There are multiple ways of making the most of brand partnerships with CrossMyStore, and I’ll explain a few of them now to get you started with gaining visibility and cutting acquisition costs.
List each other’s items in your storefronts
At its core, Cross-Store Selling is all about selling your products in your partners’ storefronts, and selling their stock in yours. Not only does this boost your revenues and average order value by increasing the number of sales of your products and the variety of stock you have on offer, but it provides a whole range of other benefits.
By having your partner sell your stock in their store, you gain access to their entire existing audience and leverage their marketing techniques at no extra cost, reaching a whole new customer base with ease.
You can penetrate new demographics or sell in new regions and, thanks to the automated CrossMyStore platform, you’ll share customer insights and information to add to your existing marketing channels, and convert new buyers into loyal fans.
On top of driving revenues and finding new customers, you’ll be able to use your partnerships to test out new products or markets – implement new items from your partner into your online store to see your customers’ responses, or supply your stock to your partner for them to sell to whole new demographics.
You’ll have the advantages of increased profits and new audiences, all without the expenses and risks of new product development and marketing!
Create collaboration bundles
This is where Cross-Store Selling becomes more than just another sales strategy, and will elevate your business above all competitors.
By integrating your partners’ products into your own collections to create unique bundles for your customers you’ll guarantee larger orders and more profits, all while taking advantage of the strengths of your partners and drawing in their fans.
Pairing up complementary items from other brands and selling them together will enhance your existing stock without forcing you to spend money on new product development and storage, and you’ll be able to stand out from the competition by providing your customers with easy and exciting purchase opportunities to save them time and hassle.
Creating bundles gives them the products they love all in one place, and they’ll keep coming back for more.
Design unique, co-branded items
The greatest form of collaboration between brands elevates your partnership so you have a true connection. It doesn’t just involve Cross-Store Selling, but actually integrates both partners so they put their strengths together for mutual benefit.
Of course, I’m talking about collaborating to create new co-branded items, a form of development and marketing that is taking the e-commerce world by storm. Looking at the opportunities it provides, it is easy to see why: co-branded items appeal to the audiences of both brands and make you stand out in your niche to draw in new customers interested in it.
They give back to the loyal fans of both brands by giving them more of what they love, and generate interest in each other’s audiences who will visit the stores to check out more.
The best way to capitalize on the potential of co-branded items is to mention each other’s brands in social media posts and other advertising so that you’re no longer competing with them in an endless bidding war of marketing, but you’re joining forces to reach more customers and earn more together.
With Cross-Store Selling, brands can form new partnerships and elevate their marketing strategies, but they can also form impactful, long-term relationships which their customers will love and will want to come back to.
Thanks to CrossMyStore, you’ll be able to take advantage of your partner’s strengths and products to reach new audiences and keep them loyal, all while enhancing your own store and product lines.
So, what are you waiting for? Sign up today and start reaping the rewards of brand partnerships now!