Here’s the thing about customer acquisition…It’s really hard. And it sounds cliché but sometimes in order to achieve it, you have to think outside the box, or rather inside somebody else’s box.
If you’re looking across your marketing activity and struggling to see what you could change to get more customers, have you considered using someone else’s marketing channels? Partnership marketing is sort of like the offline version of influencer marketing, where you’re essentially piggybacking on another brand’s established relationships to build your own. Just like influencer marketing, there’s a perceived endorsement from your partner brand for your product and so you’ve instantly skipped the hardest parts of the customer journey and should already be closer to the conversion stage.
It’s not just the perceived endorsement that makes partnership marketing really effective though. Inserts are actually added value to customers, meaning they actively look for and engage with them when they receive packages. This means your advert is hitting them when they’re in a receptive mood and you’re pretty much guaranteed their attention unlike digital ads which are often seen as intrusive and something to be ignored and skipped.
Perhaps the best thing about partnership marketing is that it can be really cost-effective. Essentially it’s about creating a mutually beneficial relationship between two brands. Typically it will be between brands that share the same target audience and similar distribution channels. It allows brands to work together to drive brand awareness, broaden their reach and increase revenues. This means that brands can negotiate a trade-off where the cost of the campaign is offset by something other value add whether it be data, or hosting their inserts in your own distribution, or even putting samples of their product in your distribution. It’s win-win for both parties.
By rethinking your marketing, and considering channels that you’re not currently using, you could open up whole new revenue streams and drive customer acquisition and business growth.
If we’ve got you all excited about the prospect of finding your perfect partners, then you can view our current partnership programmes here or if you want something bespoke you can contact us here to discuss your partnership options.
