By Digital Hub on October 1st, 2020
Advertising does not have to be a solo effort. You can partner with other businesses to boost sales, increase your brand awareness, acquire new customers and achieve a dozen other business goals.
But just like any other partnership, you will have to perform due diligence. With the right partner, the partnership will be a success. But in the unfortunate event you end up with a wrong partner, you might end up counting losses. Consult any best digital marketing agency in Sydney if you need help finding the right partners.
Our marketing experts at Digital Hub Australia shared with us the most effective forms of brand partnerships available out here. We discuss them and show you how you can implement them.
1. Affinity Advertising
Affinity advertising can be described as a partnership between two brands that have mutual interests. What usually happens is that one company advertises another company’s products or services thus giving them access to their user base.
You can use affinity marketing to acquire new customers that are interested in your products by targeting them with attractive and unique offers,
For example, a company selling design software can use affinity advertising to acquire new customers by partnering with a design school. They can offer versions of their software to students for free. Chances are the students will purchase their design software once they graduate since they will have gotten used to using it for their projects.
The design school, on the other hand, will benefit by getting an influx of new design students who are interested in using an industry standard software for free.
A good digital marketing agency in Australia can help you figure out how to implement affinity marketing in ways that are unique and beneficial to your brand.
2. Co- Branding
Co-branding is a form of marketing partnership where two companies come together to sell a singular product or a package of their respective products. The apparent advantage to this approach is that both brands get to pool together their resources, which greatly increases their chances of success.
Companies in a co-branding arrangement will also share the risk in case the venture fails. As a result, co-branding tends to foster trust between businesses..
However, you need to learn as much as you can about your potential partners before getting into a co-branding agreement. Hire digital marketing experts in Sydney to help you collect data that will help you know if the companies you are considering getting into a partnership with are viable candidates or not.
A co-advertising partnership is a marketing arrangement where two or more businesses seek to increase the sale of a product. More often it’s between a manufacturer and a distributor, retailer or wholesaler.
The manufacturer usually agrees to contribute to the advertising costs incurred by the seller of their product.
On paper, it might seem that only the manufacturer benefits the most from such an arrangement since they get to sell more of their product through retailers. But, when a co-advertising plan is executed effectively, all parties benefit from it.
The manufacturer will benefit from increased sales while the retailer gets to cut down their advertising budget and have access to a larger customer base.
A co-advertising partnership can also be between two businesses with complimentary products or services e.g a mobile phone brand and internet service provider.
Should you find yourself making such an arrangement, hire SEO experts in Sydney to help you come up with an effective advertising campaign that will deliver your desired results.
4. Affiliate Marketing
Affiliate marketing is one of the most effective methods you can use to generate leads for your business. Put simply, you work with a brand influencer to generate lead for your businesses. They can also help you raise your brand’s awareness.
For example, an influential graphic designer on social media platforms such as YouTube or Instagram can partner with a company that develops graphic design templates. They will introduce your brand to a massive audience that is interested in graphic design.
Identifying potentially great brand influencers is a process you should approach carefully. You need to find one who has influence in your industry and a great reputation. Get the best SEO agency in Sydney to help you search and vet potential candidates for your brand.
5. Sponsorship Marketing Partnership.
This is an advertising arrangement where you sponsor an event or organisation for mutual benefit. The organisation you are funding puts your funds to good use while you increase brand awareness.
Another benefit of sponsorship partnerships is that you get to build consumer trust and confidence. For example, if you sponsor a non-profit organisation that aims to improve the lives of people in your region, your business will be perceived as trustworthy and socially conscious.
Generally, there are several ways in which you can work with other brands and businesses for mutual benefit. You have probably noticed that each partnership is unique and delivers different results. Always go for those that can help you reach your goals. Remember to make use of SEO services in Sydney to build your credibility and make yourself a worthy partner as well. Our marketing experts at Digital Hub Australia can help you build your brand’s image and at the same time look for worthy partners. We also offer many other affordable digital marketing services in Sydney Australia that you could make use of to accomplish your different business goals.