top of page
  • Wave Partnerships

Top 10 reasons to create marketing partnerships

Updated: Apr 10, 2022

After interviewing marketing executives at start-ups to Fortune 100 companies across industries such as CPG, retail, hospitality, beauty, non-profit, fitness, tech, and banking, Wave has compiled the top reasons that brands choose to form marketing partnerships.

#1 - Generate revenue

Traditionally, revenue driving marketing tactics for brands included advertising, email, sales team activation, and digital strategies. More recently, strategic partnerships have been climbing up the ranks. Partnership marketing is now a key component of many marketing roles where marketers are responsible for sourcing partners, activating partnership campaigns, and growing partnership revenue.

#2 - Create a new customer experience

At your service. It’s true, customer service and experience are integral in driving your customers back to your brand again and again. Creating a unique customer experience helps your brand feel fresh while surprising and delighting customers.

#3 - Enhance your brand story

What does your brand stand for? How can you deepen your story with your customers? Go beyond communicating your values by partnering with brands that share the same values as you.

#4 - Build brand credibility

Many of the start-ups and smaller brands that we spoke to wanted to align themselves with a brand that had more prominence than their own. In the early days, brands that can stand on the shoulders of giants (aka larger well-known brands) provide new customers with a sense of trust and credibility.

#5 - Increase brand awareness

Although revenue generation is the primary goal for most brands, brand awareness closely follows. Having a customer become aware of your brand is the first step in the purchasing funnel. Depending on what your product or service is, it can takes days, weeks, or months for a customer to make a purchase. Making a customer aware of your brand, what you stand for, and the benefits you offer provides you with new leads and can shorten the purchasing time.

#6 - Create new content

New and valuable content keeps your customers engaged, helps your brand rank in Google search organically, and provides credibility and expertise for your brand. In addition, some brands have their own creative teams, copy writers, and content studios. By partnering with a brand that has these resources, you can leverage co-branded content.

#7 - Innovation

Often times, larger brands rely on start-ups and smaller brands to bring innovation and a new perspective to their company. Brands rely on innovative partners to help them differentiate in the marketplace, build innovative products, and provide better customer experience.

#8 - Add value for loyal customers

Loyal clients are the creme de la creme of your customer base. These customers provide the most lifetime value for your brand and thus should be rewarded and engaged with at a higher level. Partnering with another brand can provide your loyal customer with something special that will bring them even closer to your brand such as a unique product, exclusive access or one-of-a-kind experiences.

#9 - Attract a new audience

Have a shifting demographic? Launched a new product/service for a new customer? Finding a partner with the target audience you are looking for can help you scale your new audience quickly.

#10 - Enter a new market

When brand awareness is low in a new market that you are trying to enter, finding a trusted brand partner that aligns with your brand values and target customer can help you grow your brand quickly in the new market.

When forming a partnership strategy, think about the goals that are most important to you and work them into your partnership agreement. For example, if you are interested in generating revenue, creating a customer experience, and creating content, think about discussing contract terms with your brand partner that includes sales targets, customer events, and a specific number of blog and social posts.

Why do you create marketing partnerships for your brand? Leave a response in the comments.

10 views0 comments


bottom of page