Today´s consumers do not want to be mere product buyers, but rather want to collaborate with their favorite brands and participate in the development of new products that better adapt to their needs and motivations. These consumers want to be active players within the customer experience. They are also called “crossumers”, and are to become essential as Marketing 3.0 becomes the norm in business strategies.
This is the concept of collaborative marketing: businesses interact with their customers by cooperating and co-creating products and marketing contents. According to Crowdtap, certain data support the importance of Collaborative Marketing already now:
- 70% of consumers are more loyal to brands who truly listen to them.
- 64% of consumers feel more committed to brands they have collaborated with in the creation process of the product or idea
- 43% of brands affirm selling more when products comply with the market demands.
- Brand loyalty increases up to 42% if ideas coming from consumers are taken into account.
Collaborative marketing is beneficial to both brands and consumers through a win-win relationship:
- Firstly, consumers want to become active players, participate in the creative process in order to obtain products better adapted to their needs.
- Secondly, brands have an opportunity to get to know their target customers better in terms of their concerns, values and motivations, and thus develop products and services that have their approval. This will provide the brand with a valuable competitive advantage.
Advantages of Collaborative Marketing
In terms of the advantages of collaborative marketing to companies and brands, the following should be highlighted:
- It helps create community: the use of social networks allows brands to generate and share information among users and builds a community around the brand. This community can in turn be influenced.
- It strengthens brand identity: interaction among consumers is encouraged and this interaction strengthens their role advisors for the brand.
- It strengthens brand loyalty: it allows, through continuous communication, the brand to establish loyal and long-lasting relationships
- It boosts innovation and differentiation: it brings ideas that allows companies adapt and personalize products according to the clients’ needs. This contributes ongoing innovation to stand out among competitors.
- It creates brand ambassadors: it creates a community of enthusiastic consumers who contribute in boosting the brand’s awareness and reputation.
Collaborative marketing techniques
There is a wide variety of techniques, both online and offline. Some of them are:
- Events in social media: these are carried out in order to encourage brand enthusiasts to participate in the product creation or reinvention process, or in the creation of a marketing campaign. This goes far beyond the usual pre-tests carried out for both product development testing and campaign testing. Their contribution should start at the outset of the process.
- Contests: it is possible to organize contests in order to learn the consumers´ opinion about certain features of a product. For instance, many different versions of the product can be presented and the consumers can vote for their preferred version according to their needs and motivations.
- Blogger campaigns: using bloggers and influencers may be very convenient as long as their positive opinions about the brand will attract their followers to the brand, and thus provide further brand awareness, acceptance and an increased base of potential customers.