Partnership Basics

Hosted by Vince Ventura and Shelby Klick

 

Goals: To use partnerships and combined advertising initiatives to put your brand in front of audiences that you may not reach on your own. 

 

1. Why Partner
   1. Expand your audience
   2. Build community
   3. Add value to customer experience
      
2. Identify potential partners
   1. Non-Competitors
   2. Make a list of near-by businesses
   3. Make a list of online only businesses that compliment your brand
   4. Find how you can add value to their business
      1. Exposing your customers to them
      2. How does your service of business compliment their service or business?
         1. Can you offer a package?

• Try Sponsoring a local charity, or having a benefit event.

1. Reach out
   1. Not everyone will be interested
   2. Not everyone will be a fit
   3. Keep trying until it makes sense for both businesses
      1. Be transparent
      2. Don’t pretend to be something you aren’t just to make it work

• Don’t agree unless it feels right

1. Get a memorandum of understanding, agreement, or contract

 

1. Construct a Reciprocal Referral concept
   1. Email campaign
   2. Social sharing
   3. Try co-hosting an event
   4. Try joint advertising

 

1. Email/post to your customers about the Reciprocal Referral Concept and have your partner do the same for you.
   1. Track clicks/opens/unsubscribes
   2. Analyze this data
      1. 1-2% unsubscribe rate
      2. 17% Open Rate

• 3-5% Click Rate

1. Learn what partnerships are desired from looking at your data