Like For Like Marketing: The Best Way For Business Collaborations

Want to learn about like-for-like marketing? I am sure that you’ve already used these tactics somewhere in your life.

For example, when we’re doing something for another person, we say to him/her that I’m doing this for you but you’ll have to do something for me.

A similar concept is being used in like-for-like marketing. Let’s go in deep with this strategy.

What is Like for Like Marketing?

Like-for-like marketing is a strategy where one business promotes other businesses for the sake of business terms. In the same way, it happens for freelancers and solopreneurs.

You can take this marketing strategy as an individual case of word-of-mouth marketing. In word-of-mouth marketing, any person or business that has taken services and products from a brand promotes the brand and spread the word about the brand if they’ve appreciated our products or services.

But in most cases of Like for Like marketing, businesses spread the word about other businesses. These are the businesses that have been partnered with other brands, and that they are promoting. I hope you get it now.

In simple words, you promote us, we promote you!

Is Like For Like Marketing A Good Option For You?

I would say it is a very good option if you’re doing it correctly. To implement this strategy you should have good relationships with other businesses.

Once you’ve established good relationships with other businesses, you can propose to them like-for-like marketing. And I’m sure none would say no to the free promotion of services.

It is a very good marketing strategy for businesses that are having complement businesses. Let’s assume there is a social media marketing agency and another one is a website development agency, then both have a different domain of workspace.

If they’re collaborating with each other then they can promote each other like Social Media Agency can tell a social media client to go for the particular website development agency whenever they’ll be looking for development services.

And so as a website development company can recommend a social media marketing agency for the social media services.

You can see how much benefit they can be with each other even without investing a single rupee in advertisement or marketing. It works so well if the domains of businesses are somewhat related to each other and complement each other.

So, do you also think like for like marketing can also be very much useful for you? Willing to go for collaborations? DigiAvtar is also always open for collaborations if it works well and we share the same values. Connect with us for collaborations!

Is Like for Like Marketing and Like for Like Sales the Same?

Absolutely not! They’re two different things, like for like Marketing is the term used in the marketing field, and like like sales is the term used in the field of finance.

We’ve already discussed what’s like for like marketing in the marketing field. Now let’s summarize like-for-like sales in some simple words.

Like for like sales is often called ‘comp growth’, ‘comparable growth’, or ‘organic growth. Like for like sales comparisons of the sales between the current year and the previous year. After comparison, they can tell if some company has shown a decline or growth in the current year by comparing it to the previous year.

In simple words, like for like sales compare sales or financial results between current and previous same period. On the basis of this like for like sales tell us the percentage of growth or decline in the business.

I hope you’ve understood the difference very well between like for like marketing and like for like sales.

Now, let’s discuss some tips to increase the profit from like-for-like marketing

Tips For Like For Like Marketing

There’ve been many things you should consider Like For Like marketing, but here we’ll talk about some precise things that can give you a lot.

1. Build Good Personal Relationships with B2B Businesses the Most
2. Collaborate with the businesses for Like
3. Use Different Campaigns to Promote the Brand such as #FFF on social media for Follow-for-follow and #LFL for Like for Like
4. Incorporate Storytelling in the Content of the Website, Social Media, and other marketing materials.
5. Incorporate personalized messaging in all the brand messaging and marketing materials

We’ve seen some of the tips you can use to give a boost to your brand. I would say you should invest your time in this strategy because it’ll save your marketing costs while building good business relationships and generating more return on investment (ROI).

Let’s conclude the blog here and give it a final thought!

Wrapping Up

Like for like marketing isn’t a popular term used for marketing purposes and like for like sales term is so much popular. When there are two somewhat similar terms but with different meanings being used, then the chances are people will not know much about the second term, because they’re only aware of the first term.

The same is happening with like-for-like marketing, like for like sales are working as a mantle for the shine of like-for-like marketing.

But this doesn’t mean that we’re not using like for like marketing, we’re still using it, even though through the big brands, how?

Do you use YouTube? You must be thinking, what am I questioning, everyone uses it.

But have you used its Featured Section, with the help of that we can show channels of our other business partners as featured content on our profile. You can name yourself what customised name you want to use for them to showcase on your YouTube Profile.

End Cards can also work for the same, for like-for-like marketing.

So, if you want to go ahead with like-for-like marketing, then it’s time. Adopt this marketing strategy at an early age and make the best use of it.

If you agree that it can be so much beneficial for our business then please let us know in the comment section how’re you going to use it for your business.

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