The presentation explains the growing importance of partner marketing in opening the doors of business opportunities faster across new locations. It is extremely important to find the right marketing partner to forge lasting and profitable business relationships. The benefits of partner marketing via co-marketing, co-branding & cross-marketing programs are huge in promoting joint marketing & partnership. Partner companies that co-exist are rewarded with new customer relationships and business sustainability with time. The presentation also outlines the different approaches of partner marketing and ways of promoting joint partnerships.
2. 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
3. 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
4. Partner Marketing – Teaming up can generate incremental sales!
GREAT THINGS COMES IN PAIRS!
So is partner marketing…
Joint offerings 100clients
by tomorrow!
5. 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.
6. 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!
7. 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.
8. 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/
services
Common
marketing
needs
Common
goals
Keeping
individual
partner identities
as prominent!
9. Partner Marketing for Start-ups – What you should know & do
For every 10conversations you have, only 1might be promising. And of the
deals you close, only a fraction will be mutually successful.
But that's OK. Just 1new 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
10. 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
11. 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.
13. 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.
14. Partner Marketing Approaches – Examples
Co-Branding
Pillsbury brownies along with Nestle chocolate, a
combination of complementary tastes by two brands
fostering brand associations and equity.
15. 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.
16. 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.
17. Partner Marketing – Ideas of joint promotions
E-Books
Good e-book content brands your company as an expert and as a
trusted resource to rely upon whenever in need.
Videos
A short video is an excellent means to promote your brand
message over an agreed topic that grabs the attention of both co-
marketing partner's audiences.
Webinar
A 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.
18. 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!!
19. 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
advertisements
Leveraged brand
equity
Mutual
marketing &
sales
New services
More referrals
Networking
Meet potential
buyers
20. 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.
Editor's Notes
The presentation explains the growing importance of partner marketing in opening the doors of business opportunities faster across new locations. It is extremely important to find the right marketing partner to forge lasting and profitable business relationships. The benefits of partner marketing via co-marketing, co-branding & cross-marketing programs are huge in promoting joint marketing & partnership. Partner companies that co-exist are rewarded with new customer relationships and business sustainability with time. The presentation also outlines the different approaches of partner marketing and ways of promoting joint partnerships.
Keywords:
Marketing, customers, business, sales, marketers, relationships, marketing partners, clients, brands, advertising, content, audiences, customer relationships, market