Digital marketing is extremely powerful and also extremely complex. It requires the right inputs and expertise to achieve success, which many local and smaller businesses lack. This puts them at a clear disadvantage to larger businesses who can effectively use digital marketing.
This dichotomy is starkly illustrated when comparing how marketing budgets are spent between national and local businesses. Large companies spend roughly two thirds of their marketing budget digitally and one third on traditional media. The exact opposite is true for local and small and medium businesses, who spend two-thirds of marketing budget on traditional media and only one third on digital.
Collaborative marketing solves these challenges and a collaborative marketing platform (CMP) allows collaboration and distributed marketing at scale. It gives businesses a marketing “easy button” by enabling collaborating partners to bring together their own unique inputs – expertise, data, local knowledge, budget, assets – to simplify and automate the execution of sophisticated marketing programs that drive business outcomes and revenue.
At its heart, a collaborative marketing platform is technology that makes it easy and secure for participating partners to create, customize and activate marketing programs built using best practices.
Sponsoring partners, such as the national brand, a technology platform (like a CRM), or a digital marketplace use their marketing expertise, along with assets and data to create automated templates. A participating partner, such as a local office, small business, independent agent, or end user of a technology platform brings their local expertise and budget to customize the template and then execute the marketing program.
Evaluate the capabilities
When evaluating your options for digital co-marketing, keep an eye out for a collaborative marketing platform with the following capabilities:
- Focused on performance and ROI – The platform should provide solutions that drive true ROI and revenue that is measurable. The best CMPs will drive acquisition, lead generation, and conversions, not just awareness and branding.
- Technology that learns – Your CMP should get smarter over time, and use those learnings to optimize your marketing programs to drive constantly improving results.
- Tailored and customized programs – Ensure your collaborative marketing platform provides solutions tailored to your business, and isn’t just offering the same template to every partner. Otherwise, your ads will look and perform like all the rest.
- Deep integration with existing tools – No one wants to log into yet another tool to perform a critical business task. Look for a CMP that integrates into your existing tools and interfaces where end users are already spending their time. This makes it a seamless experience for the end user, and increases the value your own UI provides.
- Simplified and automated execution – The collaborative marketing platform should make customizing and launching a marketing program as easy as a few clicks for the end user.
All industries stand to benefit from collaborative marketing and the impact a collaborative marketing platform can drive. Examples range from:
- A national real estate brand empowering their local agents to market their listings to drive a home sale
- A mortgage specific CRM provider offering marketing capabilities to their loan officers to generate leads
- An eCommerce marketplace giving independent merchants the ability to show ads on Facebook and Google to drive clients to their digital storefronts
- Or any of the other local or independent seller businesses like hotels, gyms, financial advisors, accountants, or franchises.
At Evocalize, we’ve helped businesses across industries simplify, automate, and execute sophisticated digital marketing at scale that drives results. The average end user can be up and running on Facebook and Google in under 5 minutes with just a few clicks. One real estate client, with thousands of agents using Evocalize embedded in their solution, saw average time spent per week on digital marketing drop from 9 hours to just 9 minutes. That’s a 98% decrease in time spent on marketing, which freed up agents to focus their limited time on selling homes and finding new clients. In addition, another platform partner saw the effectiveness of their end users’ digital marketing increase by 400% once Evocalize was implemented.