When approached strategically, brand partnerships can be mutually beneficial, helping both parties to get ahead and sell more products. If you’re looking to enhance your B2B marketing efforts, brand partnerships could be just what you need to take your brand to the next level. In this article, we provide some top tips for building successful brand partnerships in B2B marketing.
Choose the right brands
It’s important to choose the right brands to partner with. Make sure the brands you partner with are reputable and relevant to your target audience. This will ensure a mutually beneficial and successful partnership.
The brands you partner with must be relevant to your target audience, or you run the risk of alienating them. They must also be aligned with your brand values and have common goals. This will help you establish the core of your relationship and ensure the partnership makes sense, both for the brands involved and for the consumers.
Determine what you want from the partnership
Once you have identified the right brands to approach, be sure to get clear about what you want from a partnership before you approach them.
Consider the marketing tactics you are currently using. How might other brands be able to get involved with what you are already doing? Check out what your prospective partners are doing and consider how you could fit in with their strategies.
What is it you want to achieve from the partnership? Do you have any big ideas for new projects you could collaborate on? Approaching brands with a range of initial thoughts and ideas will help to get the conversation started and hopefully sway their decision in your favour.
Approach the right person
To save time and increase your chances of being noticed by the brands you want to work with, determine who are the best people to contact. If you are approaching more prominent brands, it is likely they will have a PR agency to manage their brand reputation, and this will be the best bet for your first point of contact.
If the brand doesn’t have a PR agency, which is often the case with smaller brands, try to find the contact details for the marketing director. This information may be available on the brand’s website. Alternatively, LinkedIn is often an excellent place to make contact. Send a brief message containing your idea or vision and provide contact details for them to follow up.
If these avenues fail, you can always try picking up the phone and cold calling. When making your initial call, your goal should be to get through to the marketing decision-maker or to at least get their contact details.
Agree on mutual goals and KPIs
Once you have reached the point of discussion with a brand partner, it’s important to agree on mutual goals and KPIs. Setting clear goals will provide a reliable foundation from which to work, which you can return to at a later date should there be any bumps in the road along the way. Consider using the SMART criteria when setting goals, as this generates clarity and provides actionable points from which to work.
When using the SMART criteria for goal setting, you should ensure your goals are specific, measurable, action-oriented, realistic, relevant and time-bound.
Work with your partners to set clear goals which you both agree on. Ensure you share data amongst your partners to help you track the success of your campaign. Establishing mutual goals and KPIs will not only ensure your campaigns stay on track but also help to motivate all parties to sell each other’s products so everyone benefits.
Following the tips laid out in this article will help you build successful brand partnerships and take your B2B marketing efforts to the next level.
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