A marketing collaboration is a great way to increase the visibility of your business.
1. Understand what you want to achieve from your marketing collaboration.
Before you start approaching potential partners, it is important to understand exactly what you want to achieve.
You may be seeking a partner who has a broader community or audience than you, and who could help you to expand the reach of your offers and to generate more leads. Or you may be seeking a marketing collaboration partner who could support you in growing your community or email list. Alternatively, you may be wanting to learn from others in your industry and believe a collaboration or partnership may be an effective way for you to gain knowledge. You may want to develop a partnership with another business owner to generate referrals for each other.
Once you know what it is that you want to achieve, then you will be able to determine who would fit for your business.
2. What do you have to offer a collaboration partner
For it to be an effective marketing collaboration, there must be something in it for both parties. They may want to save money on their marketing activities, and if you had money to invest then you could share costs on a joint promotion. Or, are there bonuses or discounts on your services that you could provide to their clients which they could offer as part of a loyalty program?
Whatever you decide to offer, ensure that you provide something helpful and valuable to your potential partner. DOWNLOAD THE ULTIMATE MARKETING CHECKLIST
3. Approach a potential partner
Consider the best way to approach your potential partner with your pitch.
Is it via a face-to-face conversation at a networking event?
Alternatively, via a phone call where you could ask to set up a meeting with them to discuss the benefits of developing a marketing collaboration? Through this conversation, you may uncover other benefits or value that you could bring to the partnership that you had not considered earlier.
4. Agree on outcomes for your marketing collaboration
Have something in writing, a document or agreements. Or an email that you can agree upon. It is essential that you agree upfront on what both partners expect from the marketing collaboration to avoid any misunderstandings or disagreements down the track. Include targets or goals, as well as what each partner will be contributing to avoid any confusion. You will also want to map out a timeline for when the marketing collaboration and partnership activities will commence.
Article written by: Alison Kirk
