How to Build Co-Marketing Campaigns That Drive Results for Both Partners

Co-marketing is a great way to reach new audiences, share resources, and grow your business, especially with campaigns centered around lead generation content. By partnering with other brands to create and promote content, you can build a campaign that drives new opportunities for both brands. But success requires careful planning and strong collaboration.

In my previous role at HubSpot, I managed U.S. and global co-marketing lead generation content campaigns. Along the way, I learned what helps these campaigns succeed and how to avoid common pitfalls. Here is a five-step process to help you and your co-marketing partner drive successful campaigns.

1. Choose the Right Partner

Not every brand will be a good fit for co-marketing. Look for a partner that:

• Shares a similar or complementary audience. For example, if your company sells project management software to small businesses, consider partnering with a marketing analytics software provider that also serves SMBs.

• Has a comparable audience size. Having similar web traffic and social media engagement can give you a better picture of what each Partner can achieve with content promotions.

• Aligns with your goals and values. Make sure their approach to content, brand reputation, and communication style works well with yours.

If you’re unsure where to start looking for partners, try this ChatGPT prompt:
"Give me a list of [number] [size] companies that provide [product/solution type] in [industry]. Include companies in [region] that have a primarily [language]-speaking audience. They should have significant web traffic and regular social media activity."

For example:
"Give me a list of 30 SMB companies that provide marketing analytics software. Include companies in North America that have a primarily English-speaking audience. They should have significant web traffic and regular, consistent social media activity."

This will give you a list to start with, that you can further validate and refine. You can also check with internal teams for ideas on partnership opportunities. For example, integration partners or other business relationships might lead you to a great co-marketing match.

2. Plan Together and Write It Down

Once you’ve found a partner and agreed to work together, it’s time to plan. Start by brainstorming content ideas that will appeal to both audiences. Using the above example of partners that provide project management and marketing analytics software, here are a few lead-gen content ideas:

• Ebook: “X Tips to Run Successful Campaigns for Small Marketing Teams”

• Checklist: “Essential Tools to Include in Your Lean Marketing Tech Stack”

• Marketing Leader’s Toolkit: “Tools and Templates To Help New Leaders Define Roles, Develop Workflows, and Run Successful Campaigns”

Then, document the details, including:

• Who creates and reviews the content

• Deadlines and task owners

• Promotional plans and schedule

• Lead sharing process and cadence

• Campaign goals and metrics

Be sure to align on goals upfront. If one team is focused on lead generation and the other on brand awareness, the campaign may fall short for both. A clear agreement — whether it’s a formal contract, a shared document, or even an email — will keep everyone on the same page.

3. Make Sure Workload Is Balanced

A successful campaign depends on both teams being fully invested. Divide the tasks based on what each partner can contribute. For example:

• For a webinar, one company might provide the hosting platform while the other moderates, and both contribute subject matter experts.

• For an ebook, one team might write the content while the other handles design for the ebook, landing page, and co-branded promotion graphics.

If one team doesn’t have the resources to play an equal role, the timing may not be right. Honest conversations about availability and capacity will help prevent delays and set realistic expectations.

4. Don’t Ignore Red Flags

It can be easy to ignore red flags, especially if there are benefits like joint name recognition or audience size that both companies are excited about. But keeping an eye out can prevent teams from investing time and money into campaigns that won’t yield results, or might not launch altogether.

Here are a few examples of what to look out for. 

• Poor quality of in-house content

• Lack of overlap between your audiences

• Unwillingness to compromise on project details

• Slow communication or missed deadlines

• Conflicting priorities or unclear goals

• Uneven workload distribution

• Messaging that doesn’t align with your brand

• Content that is too promotional instead of educational

Challenges don’t have to derail the partnership. In some cases, adjusting the timeline or campaign type can resolve the issue. The key is to address concerns and communicate early to see if you can find a solution together.

5. Have Regular Campaign Check-ins

Once the campaign launches, regular check-ins are essential. Schedule updates at a cadence that works for both companies, such as weekly 15-minute calls or twice monthly async updates.

In these updates, you’ll want to:

• Share campaign progress and analytics

• Provide lead reports

• Brainstorm ways to improve the campaign if you’re not seeing the best results

These discussions should be collaborative. If something isn’t working as expected, both teams can share insights and ideas to make adjustments. After the campaign ends, review the results together. Look at lead quality, content performance, and how well the collaboration went overall. Use those insights to make your next campaign even better.

With the right partner and a clear plan, co-marketing campaigns can create meaningful results for both companies. Focus on open communication, shared goals, and balanced contributions, and you’ll set the stage for a successful collaboration — and possibly a long-term partnership.

If you need help planning, running or refining your co-marketing campaigns, let’s connect and see how I can assist. Book a call with me on my website.