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Partnership Marketing is Blooming Despite COVID-19
By: Zach Weisleder
Partnership marketing campaigns are at the forefront of marketing collaboration between businesses.
Partnership marketing takes place when two separate organizations work together, and subsequently, add value to both themselves and their new business partner.
This marketing strategy was considered ‘broad’ just months ago. However, with the financially flexible opportunities that partnership marketing campaigns present, and the endless room for technological innovation that can increase outreach, the modern marketing strategy is just scratching the surface.
As companies begin to adopt this marketing strategy, they lean on automation, data analytics, real relationships, all while presenting smaller businesses with opportunities to get their foot in the door when it comes to marketing with the top agencies in the world.
A Forbes article says that in order for companies to catch up, “Brand advertisers need to start adjusting their strategies now to rely more on a variety of first-party sources to get the customer insights they want.” Partnership marketing is that first-party source and can resonate best with an audience as opposed to an advertising campaign that is broad and aims to penetrate multiple markets and demographics at once.
Brand-to-brand marketing has increased despite the world going fully virtual. These partnership marketing agreements can make a target audience want to buy a product simply because it is associated with a company they enjoy. Whether it be an agreement between two companies at the top of their respective market or collaboration that allows products to become more affordable, partnership marketing has bloomed significantly in 2021. A few co-marketing partnership examples include:
Partnership marketing presents two separate entities the opportunity to share an even larger pool of financial resources and the creative avenues are endless. When more parties are involved, it is easier to build customer relationships and harder to face adversity.