Partner Marketing – Expanding global clientele reach!

Why Partner Marketing?

Trying to do everything alone with go-to-market strategy is a solo selling business where…

Every customer is different with unlimited permutations

Confused checklist and expectations

Targeting both consumers and businesses is struggling

Why Partner Marketing?

No revenues due to misalignment of marketing priorities

Lack of skillsets, marketing resources and help

Targeting both consumers and new markets is struggling

Partner Marketing – Teaming up can generate incremental sales!

GREAT THINGS COMES IN PAIRS!

So is partner marketing…

Joint offerings

100 clients by tomorrow!

BINGO!

Partner Marketing Example – Teaming up can generate incremental sales!

IBM has partnerships/alliances with several application vendors and can effectively counter almost any direct software vendor attack with its broad & comprehensive solution set.

Partner Marketing – Starts with selection of right partners!

Partner marketing is a co-marketing activity that helps you achieve success by engaging into new business opportunities & applying the right tactics & jointly tailored ideas.

So what matters….

Pick the right one

You win!

Pick the wrong one

You lose!

Partner Marketing – Why right partners are the lifeblood of business?

Only 8% state that they are “very satisfied”

Over 52% of marketers are “fairly happy” with the service they receive from

their agency partners

58% of marketers believe that the number of agency partners they work

with will “decline”

Strategic alliances are a bliss for increasing your enterprise valuation. It helps business to get the right kind of customer and client exposure, reaching millions of fan bases that you might have otherwise failed to reach.

Partner Marketing – Why right partners are the lifeblood of business?

To earn business exposure, a business idea is simply NOT enough! An idea has to be tested and proven to build profitable relationships with valuable marketing partners to ensure long-term and reliable relationships. An immediate business opportunity is earned by joining hands with a new partner.

Common prospects/service

s

Common marketing needs

Common goals

Keeping individual partner identities as prominent!

Partner Marketing for Start-ups – What you should know & do

For every 10 conversations you have, only 1 might be promising. And of the deals you close, only a fraction will be mutually successful.

But that's OK. Just 1 new market segment can double your revenue! To pick your partners carefully -

Find partners that have close relationships with clients

Invest on a benefit driven initiative that will work for both partners

Create a turnkey partnership process that can move further steadily at a predictable pace

Manage partnership relations via monthly meetings & annual reports about performance & challenges

Find the right brand fit to align partners with a compatible business objective

Provide a motivating purpose to your partner for alliances

Research, test your strategy to establish proven relationships & grow your business

Establish clear financial statements

Partner Marketing – Enabling partners can solve problems together

A successful partnership originates from proper execution of the rightful approaches that business takes at the right time.

Brand visibility

& credibility

Niche audiences

from partner brands

Penetrates new

markets faster

Partner Marketing strategy – How does it work?

Establishing a mutually benefitted partnership depends on investing time and resources on relationships from the very beginning. This requires processes and approaches to be rightly followed by both partners in order to make partnerships more successful.

Partner Marketing strategy – Approaches

Co-Marketing

Co-Branding

Cross Marketing

Partner Marketing Strategy – Approaches

Co-Marketing

Co-Branding

Cross Marketing

Co-marketing is when two companies join hands with combined efforts to market each other's products through their distinct distribution channels that include profit sharing. Here, both the brands are like-minded and the marketing product has a common attribute. No creation of product, service or brand is required here.

When two brands come together to create a new product or integrate products, this is called cobranding or brand partnership. Here two companies form a marketing strategy that includes sponsorships, exhibitions and the like for a single product or service.

When two distinct entities exchange marketing channels for profits and mutual benefits, it is called cross marketing. The concept is simple. Find products and services that complement yours and work with companies that provide them, and parallel promote both your offerings.

Partner Marketing Approaches – Examples

Co-BrandingPillsbury brownies along with Nestle chocolate, a combination of complementary tastes by two brands fostering brand associations and equity.

Partner Marketing Approaches – Examples

Cross Marketing

Think of American Idol, a popular musical entertainment program. When you watch judges enjoying drinks, you might not realize that they are probably drinking from prominent Coca-Cola cups, kept for advertising Coke.

Partner Marketing Approaches – Examples

Co-Marketing

Nike and Apple integrated exercise and music together to come up with Sports Kit that includes shoes paired with iPod-enables seamless transfer workout data and feedback alerts via i-pod.

Partner Marketing – Ideas of joint promotions

E-BooksGood e-book content brands your company as an expert and as a trusted resource to rely upon whenever in need.

VideosA short video is an excellent means to promote your brandmessage over an agreed topic that grabs the attention of both co-marketing partner's audiences.

WebinarA webinar is a one-to-many seminar delivered over the Web using today's collaboration services (such as WebEx or MS Live Meeting). It is a wonderfully robust and lively marketing tool, offering you an effective way to get your prospects to reach out to you.

Partner Marketing – Ideas of joint promotions

Sponsorships

Sponsorships, if promoted jointly can attract significant number of contacts overnight. Sponsor a dinner, event, party or charity program with co-sponsors to spur positive brand perceptions and increase brand awareness to the benefit of both the companies..

Event Apparels

An event co-hosted by both partner companies can engage more participating audiences by printing logos of both brands on employee's uniforms.

IT’S ALL ABOUT PARTNERING & MULTIPLY ING YOUR MARKETING POWER!!

Partner Marketing – Benefits

Expand your clientele reach

Penetrate new markets

Increased consumer

base

Increased market

exposure

Increased brand media

coverage

Strengthened customer

relationships

Expand brand presence of

each company

Customer endorsements

Competitive offerings

Increased awareness via

joint advertisemen

ts

Leveraged brand equity

Mutual marketing &

sales

New services

More referrals

Networking

Meet potential buyers

If you want to learn more about Partner Marketing …

And that’s not all!

Read from my book, “The New Frontiers of Marketing” to know the right tactics of Partner Marketing, all power-packed in this whole book! Explore a little more.