4 Ways Collaboration Will Make your Marketing Budget Go Further

As we navigate these uncertain times, those of us in the travel industry are feeling a bit lost. Meetings and events are all postponed, the doors have been shut and for the time being no one is checking in. It can be easy to just sit, wait and worry, but instead what we have seen across the travel industry is the desire to inspire hope in these darkest days. 

We have been in the industry for decades, seen our fair share of challenges, and are confident in one thing- travel will bounce back. We want to be ready when it does, and with budget cuts across travel, hospitality and entertainment sectors- now is the time for partnerships and collaborations to shine. Here are 4 ways collaborating could be the right move for your recovery efforts and help those marketing dollars go further.

1. Split the check:

   Shared promotions or campaigns, mean the advantage of a shared budget which can stretch your marketing dollars further through cross-promotion.
   
   

2. The more the merrier:

   One of the greatest advantages of cross-promotion are the shared audiences. Collaboration is a great way to tap into new consumers who have common interests and demos. Picking the right partner(s) that align well with your target demo will provide exposure to new audiences with similar interests that will already be drawn to your brand. This will help generate new leads with the greatest potential to convert into new customers.
   
   

3. Barter Based Giveaways:

   When the world opens back up, airlines and hotels will have the inventory to play with and the need to get the word out that they are ready for travelers to return. Media outlets and brands will be looking for ways to engage in the cultural narrative and thank those COVID-19 heros who were on the front lines of the fight. Partner together to meet this common goal- offer the amazing getaway solely in exchange for the valuable media exposure. Organic, mutually beneficial, barter based partnerships drive results and help efficiently solve marketing challenges.

Lean on each other – Mutually beneficial partnerships:

Now more than ever, consumers want to see the world coming together and playing nice. Everyone in the industry is feeling the tightening of their budgets and loss of time. By connecting with each other, you can help tackle the problem together and play off each of your strengths to come out on top. The world, it’s people and it’s businesses are coming together to solve the problems of a pandemic, but we can do the same to build our businesses in the recovery efforts. We’re all in this together.