Welcome to the wonderful world of collaborative marketing. HighCo DATA is proud to be your guide, beginning with this blog post in which we pay special attention to the key roles played by data, emotion and technology in today’s ‘retail revolution’.
By nature, the marketing landscape is subject to change. But with the rise of collaborative marketing, it has undergone a remarkable metamorphosis. For marketers, this phenomenon has only become more and more pronounced in recent years. They recognise more than before that the use of emotion, data, and technology will help them to build customer loyalty and stimulate sales. And this realisation could inspire a marketing revolution with the potential to turn the entire retail industry upside down.
• Data-driven insights
Using data to derive insights may well be the most revolutionary aspect of collaborative marketing. These data-driven insights come into their own when used to adjust and optimise marketing campaigns to better connect with a well-defined target group. As well as this, the sharing of data between companies and their clients guarantees a better relationship between them. One that is built on trust.
• Emotional connections
Another important facet of collaborative marketing is to be found in the creation of emotional connections with clients. Do this, for example, by focusing on storytelling, using visual media, or offering personalised content. These are three wonderful ways for marketers to stand out from the competition and engage more strongly and closely with their customers.
A few examples of companies sharpening emotional connections:
o GoPro and Red Bull
Two companies with a shared history—at least when it comes to collaborating on marketing projects. One of the most striking on their long list of collaborations is undoubted ‘Stratos’. Wearing a GoPro camera, skydiver Felix Baumgartner jumped from a space capsule hanging from a helium balloon. The images of this fantastic dive went viral around the world, giving both GoPro and Red Bull huge amounts of publicity.
o Oasis and Plopsa
In Belgium, Oasis connected with the Plopsa amusement parks. By participating in a competition, Oasis customers had the chance to be part of an unforgettable experience.
o Whirlpool and GreenPan
What about Whirlpool and GreenPan? They joined forces for a sophisticated marketing promotion for induction plates.
o Nestlé – La Laitière
They dared to work together with other players from completely different sectors. Nestlé – La Laitière took an out-of-the-box approach, giving away comics with the purchase of their desserts. The association clearly made sense, proving to be a tasteful delight, not once but twice!
• Flexible payment options (technology)
The financial world is evolving at lightning speed. Payment methods are innumerable, showing a flexibility that seems to be limitless. This benefits consumer spending power, by making use of payment options such as Riverty (previously known as Afterpay), for example, or by offering certain subscription services. All of them allow clients to have their wishes and needs fulfilled. In the long term, this leads to greater customer satisfaction and higher conversion rates.
On the Belgian retail market, there are different players active who provide flexible payment options to increase customer purchasing power. Two prominent examples of this are Klarna and Riverty.
Klarna, a Swedish fintech company, introduced a service that allows customers to purchase now and pay later. Various restrictions related to having available resources for certain purchases no longer stand in the way as they once did. As suggested by their former name, Afterpay, Riverty offers a similar service. In this way, both Klarna and Riverty offer powerful extra purchasing power.
• Experience-oriented marketing campaigns
Collaborative marketing offers countless benefits and is also linked to experience-oriented marketing campaigns. Retailers can create interactive experiences for their clients, such as virtual fitting rooms or virtual product demonstrations. This also contributes to greater customer involvement and a stronger link between consumers and brands.
In 2014, Spotify and Uber announced a collaboration where Uber users could play their personal Spotify playlists during their journeys. Collaborative marketing in the purest form, with two companies joining forces to create a unique experience for their customers.
It’s difficult to deny the revolution that has resulted from collaborative marketing. It has led to stronger customer relations and sales have gone through the roof. Are you looking for ways to optimise your marketing strategy and to more directly respond to the wishes and needs of your clients? Get in touch with HighCo DATA. With our tools, network and expertise, we can give you a start in the world of collaborative marketing. And, even more importantly, help you profit from all the subsequent benefits.