Program Details

Exponential Power of Collaborative Marketing

Working With Partners On Marketing Goals Brings Forth Better Business Outcomes

Sponsors and Partners:

Sponsors and Partners:

Overview

An e-commerce marketplace misses a huge opportunity to drive sales when it doesn’t enable sellers with performance marketing programs derived from aggregated customer data.

All the best performance marketing practices, customer behavioral data and insights, and world-class creatives languish because a national brand can’t get them into the hands of its local partners in a timely fashion that achieves legal compliance.

What’s missing in both cases? Answer: Collaborative marketing.

Collaborative marketing is a paradigm shift in marketing where companies and their partner networks share audience data, expertise and technology to inform and execute growth strategies, deliver a consistent brand experience, and achieve business outcomes.

The CMO Council, in partnership with Evocalize, undertakes a critical study to understand how businesses are turning to collaborative marketing to work together for mutual benefit.

background

Collaborative marketing is poised for explosive growth. Forrester predicts a single subset of collaborative marketing technology, called through-channel marketing automation, to hit $1.18 billion by 2023, a CAGR of 25.2%. Why the sudden interest?

Some companies now have access to vast first-party audience behavioral data, rich customer insights and testing methodologies that enable them to execute digital marketing best practices. But when companies, such as local companies and marketplace sellers, lack these necessities, they must form collaborative relationships with their partner network, enabling them to execute best practices and grow exponentially.

Collaborative marketing also ensures consistent use of brand-approved creatives, messaging and engagement, as well as the distribution of co-op funds. All of this avoids a fragmented customer experience that will unravel into confusion and frustration and erode trust.

Another driver for collaborative marketing is the rising tide of privacy laws that make third-party data more difficult to acquire. Privacy changes from the likes of Google and Apple, such as getting user permission before tracking their data, are accelerating the need for businesses to embrace marketing collaboration in order to gain first-party audience data and expertise from their partner networks.

But marketing collaboration isn’t easy. It requires new distributed marketing technology, a commitment from all parties, and a communications pipeline that fosters sharing and reinforces a shared purpose. Most importantly, it requires courage to stay the course.

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Curated Facts & Stats

Brands experience a 287% higher purchase rate when using three or more channels.

Source: Smart Brief

Purchase frequency is 250% higher on omnichannel vs. single channel.

Source: Smart Brief

The share of total global online retail sales for 2023 is expected to be 22%.

Source: Forbes

62% of companies reported having to completely rethink operational models as a result of the pandemic, but 70% of these respondents also found it to be an exciting opportunity.

Source: Forbes

60% of customers now have higher expectations of their digital experience than before COVID-19.

Source: CMS wire

The laws and policies around IDFA and AID from iOS and Android are expected to result in as much as 50% loss in revenue on social media platforms.

Source: CMS wire
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Program Themes

  • Omni-Channel Marketing
  • eCommerce

PARTNERS & AFFILIATES