Partner programs have proven to be extremely effective at generating demand. Businesses can benefit from each other’s audience, social presence, and credibility. It’s all about partnering with a business whose solution or service complements theirs and appeals to a comparable customer base.
In today’s competitive marketing landscape, leveraging the power of partnership marketing to acquire marketing exposure and tap into new distribution channels is not only sensible but also necessary for companies to stay competitive. Partnership programs provide a strategy to grow the business, acquire new consumers, and reach new market segments while keeping corporate and marketing spending in check.
Also Read: Omnichannel Experience: Helping to Strengthen B2B Marketing Strategy
Here are a few B2B partner marketing strategies that businesses can use to grow.
Choose the Right Partners
Brands whose products complement each other rather than compete with each other form the best partnerships. This eliminates any potential conflicts of interest and assures that businesses don’t lose up any market share by accident.
Organizations should look for businesses that offer items that match their own within their broader industry.
In fact, the partner doesn’t even have to be in the same industry, as long as both have something in common.
Set mutual objectives
The first step in successfully implementing a partner marketing strategy, like with any marketing campaign, is to identify goals and important metrics to track in order to determine whether or not the business is meeting those goals.
Specific, attainable, measurable, reasonable, and timely goals should be set. What matters is that both parties be focused on the same marketing objectives; when they work together, their methods will be more effective.
Ensure Careful Reporting
After the goals are defined and key metrics to be tracked are identified, businesses must ensure that they have a reporting system in place to determine which leads can be attributed to which partner – this is crucial if monetary incentives are being offered.
It’s critical to have the right tools and processes in place to distinguish between referral-sourced contacts and company-generated contacts. Companies can utilize tracking URLs with custom UTM parameters to figure out which contacts come from their partners, which channels they come from, and which co-marketing activities they convert on.
Also Read: Three Common B2B Branding Pitfalls to Avoid
Participate in Guest Blogging
Guest blogging is an excellent approach to improve SEO ranks, increase site traffic, develop trust, and provide added value to prospects and consumers. Each partner’s subject matter specialists can use the audience of the other to broaden their organization’s reach and educate their prospective customers with new, relevant content.
Businesses can choose to include a guest blog in their editorial calendar once every week, or month, depending on the partnership’s goals and objectives. It’s not only about marketing the brand; the blogs shared among partners should be as relevant and informative as possible for prospects.
Create Content That Is Co-Branded
Content is now widely recognized as the king of inbound marketing. Creating co-branded material with partners, such as white papers, or webinars, is a wonderful approach to increase the value and reach of that content.
Collaboration with partners to generate content that will be relevant to both of their target customer segments can help organizations increase brand awareness and even enter new markets. The material created should provide genuine value to the audience, so it is important to take the time to plan out a stellar co-branded content strategy rather than just creating content for the sake of it.
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