At Super Bowl LII, the makers of Doritos and Mountain Dew partnered up on dueling commercials while asking fans to share their own lip-sync performances on Snapchat. Their common fans agreed that the products go together and that the consecutive commercials made them want to buy both products. It was the perfect example of successful partnership marketing…and fun!
This strategy can be a great option for niche marketing. But we’ve seen too many examples of partnership marketing done badly, leaving one partner with success while the other gets a participation medal. To make a partnership marketing opportunity the best it can be, do the following:
1. Choose the right partner.
If you are a manufacturer, do not partner with another manufacturer unless your markets are complementary. Professionals, likewise, should partner with a strong referral source. You can even choose to partner with a media outlet if they offer programs in which they do all the marketing for the purposes of meeting new potential advertisers through the event or campaign.
2. Align your goals.
Make sure you are on the same page with the reasons for your partnership. If your partner is only interested in your clients and you get nothing out of it, it’s worthless. Talk about the potential audience and if that audience is beneficial to both of you. Make sure each partner is guaranteed some level of success with visibility, networking or sales leads.
3. Have a hook.
Why should people spend their time attending your event or paying attention to your campaign? What’s in it for them? You and your partner could play host to an attractive guest speaker or panel. We’ve seen instances where companies partner to host a popular author for a book signing. Others may co-host a charity outing. You must provide value to gain value.
4. Choose an attractive venue.
If your office is a terrible meeting place, do not force people to go there. They won’t. Choose a comfortable location that is set up well for mingling, listening to speakers or entertainment. Talk to a meeting planner about how to maximize attendance (e.g. date and time of event).
5. Promote heavily.
In addition to advertising, use your social media and direct invites effectively. People are busy, and they usually need to see something several times before they will pay attention and/or sign up. If your partnership campaign is a series of expert videos or podcasts, for example, continuous promotion will start to reach a percentage of your target audience. One announcement is not enough. Also, make sure your invite list is large. Things come up. Only a percentage of that list will commit and attend.
6. Position your company.
As a partner, your company should be central as sponsor or host. Create signage or have an attractive booth. Use your logo strategically online and at the event. Have people from your company positioned as greeters, experts or both to ensure that everyone knows or gets to know your business. This is not a hard sell situation. Through advertising of the event, campaign or product all the way through the marketing process, your company should stand out and get people to opt in to future communications.
7. Outsource logistics.
You don’t have time to worry about food, security, the sign-up table or the technology. Put your best vendors or people on key tasks to pull off a seamless partnership event. Your job is to mingle, educate and gather new contacts. If you are hosting an online event, have tech people on hand to deal with unexpected glitches or to facilitate live Q and A.
A great advantage to partnership marketing is splitting the cost of logistics with your partner!
8. Follow up with leads.
After all the work of conducting partnership marketing, do not forget to have a follow-up plan. Whether that’s a fishbowl drawing to collect business cards, an online contact capture tool or a related resource to share, be prepared to continue the conversation with attendees after your event.
A subtle type of partnership marketing is public speaking, particularly through niche marketing association events.