In the world of tight budgets, I’ve always been a big fan of killing two (or even more) birds with one stone, which is why I’m such an advocate of media partnerships that bring more to the table than a sponsor’s logo.
Roundtables are a particular case in point. We’ve had some great successes with FX, Local Government News and Building in particular, where the publications not only offer the necessary reach for the resulting coverage but they also have the pull to get key contacts from the client’s wish list around the table. It’s highly productive in terms of networking and offers another layer to the investment ROI. Indeed, for most of my clients, once tried, such an event becomes an integral part of the annual plan.
Media partnership can also be an economical means of delivering other parts of the marketing plan. Local Government News’ research offer, for example, is a cost-effective way of gathering insights from the public sector – and the package includes a write-up in the magazine and on-line, for an even better ROI. Don’t have the resource to write that badly needed White Paper? Then why not commission a publication to do it for you.. and get the associated exposure too?
In a world where content is ‘king’, any partnership should result in original, rich content that can be used across a client’s own media channels and re-purposed for non-competing publications. At CIB, we always ensure that we squeeze as much content as possible out of any partnership – whether that’s conducting our own vox pop interviews like we did following Prater’s Building roundtable commissioning a guest blog or using the insights to inform a client’s own content, such as this from GE Lighting’s involvement with The Crowd.
Trade magazines are constantly looking at creating new revenue streams, so throw down the challenge – and see how you can work together to stretch that marketing budget further, to meet a multitude of needs.