I overheard this little question while waiting for coffee's this morning, and two business owners were chatting away. They both didn't know anything about "Online Co-Promotions", but had been told that it was going to be the next 'big thing', and that they should get on board with it early.
So, I interrupted their conversation (again sorry guys) and introduced myself, and explained what it was.
The general idea and concepts of the conversation are below...
If you are being told that setting up a dedicated website and running an online co-promotion is a good idea, then the reason why is because it allows you to send listeners (I'm using radio here as an example, but any form of media advertising will do) to the new website and find out what they think of your brand and your advertisements.
Every time one of your radio commercials plays, when it finishes, it ends with a request to your customers to visit the site for coupons or promotional deals.
This way you can measure the effectiveness of your advertising in whatever medium you were using at the time.
Now, I must ad that the reason why these two business people were talking about this, was because someone, not in radio, but in website design, was trying to drum up business for themselves by building a website for these businesses and then charging them for it, charging for the hosting of the site, and then charging again for the gathering of the information.
Who do you think was going to make the most out of this particular deal? The businesses, with information, or the website designer?
Sure Online Co-Promotion's are great, and worth considering, but do it on your own website, don't pay to have another site built. And Google Analytic's will give you just as much info as would a web designer going through the data themselves (in fact it sounded to me like this was what was going to happen in this case anyway).
Some people use their Facebook or Google+ page as their Online Co-Promotion place. It costs nothing, so why would you pay extra for it?
Online Co-Promotion's are another way to measure your customers responses to advertising, but also, they give your customer's another way to interact with your business.
Until next time, keep on selling! Earl Pilkington.