Cooperating with your competition is not good, right? Wrong! A new white paper put out by the Performance Marketing Association suggests that “co-opetition” could be a good thing to revitalize affiliate marketing businesses in a new way. Co-opetition is usually a good idea for affiliate businesses that have similar products, or services that could complement each other for a client.
One example of great co-opetition between affiliates that was given in the report was between Tricia Meyers of Sunshine Rewards and Carrie Rocha of Pocket Your Dollars. Sunshine Rewards is a program that offers rewards to people who are on the search for deals, and Pocket Your Dollars is a site that helps people figure out how to use their money. Both sites are fueled by affiliate sales, and an unexpected partnership between them was fruitful. Pocket Your Dollars ordered a White Label of Sunshine Rewards for their readers and the two businesses benefitted greatly. Both sites report new members and more revenue, which makes everyone happy.
So, the next time your competitor comes to you wanting a partnership, think twice before saying no. Many industries are close knit and working together can help everyone out at the same time.
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