Photo courtesy of SocialMonsters.org
The perfect marketing partnership is like a seamless coordinated dance, with each movement synced to make both partners look their best. Developing these collaborations doesn’t always come easy and naturally, though. Marketing partnerships take thought and introspection when done right. How you match potential business partners will depend on what each company needs from the collaboration. Look inward and find the right marketing collaboration to bolster your company brand — and strengthen your partnering company in the process.
Build Around Function
Like peanut butter and jelly, some things just naturally go together. In a marketing partnership, these are natural collaborations that revolve around function. The marketing collaboration between Goodyear and NASCAR seems to be a great, natural combination. According to NASCAR, 75 million fans watch or attend races throughout the year. Indeed, those numbers indicate the popularity of this growing sport. That’s why it only makes sense to pair NASCAR with the tires on which its races take place. This is a functional collaboration in which two symbiotic organizations work together for their collective good. If you have a specialty product or service, try to hook up with one of the companies that sells or uses it.
Geographic Alliances
Eugene, Oregon, is a top-rated tourist spot, boasting some of the best hotels, restaurants and ale houses in the nation. In a regional marketing partnership, some local breweries decided to partner with like-minded restaurants and the local tourism board to create the Eugene Ale Trail. The collaboration allows tourists to sample local brews, all while exploring the beauty of the area. Much like the Eugene Ale Trail, one of the upsides of a regional partnership is that it allows competitors to work together in harmony. To create a regional partnership, piece together something where everyone can win.
Paying with Peanuts
In the world of social media, product reviews can be traded for cash, goods, or a combination of both. Small manufacturers and start-up businesses use third-party bloggers to review their items. These product reviews give the product or good an online presence and the retailer a link to market these positive reviews. And, this endeavor can be achieved for a fraction of the cost of a large-scale marketing campaign. Plus, these partnering bloggers may get some free schwag and numerous topics to write about, which is always a hot commodity for independent writers.
Filling the Gap
Some marketing partnerships arise from necessity. In 2013, MannKind Corp., developed synthetic insulin that could help millions of diabetic people around the world lead longer, healthier lives. Unfortunately, the company didn’t have the requisite funds to fully test the drug to gain FDA approval. Instead, MannKind had to find a marketing partner that could help it conduct the tests and get this lifesaving drug onto store shelves. MannKind identified a willing partner in Sanofi, a French pharmaceutical company, to expand into the global marketplace. In the end, two gaps were filled, and consumers in need of inhalable insulin had their wishes granted.
Bringing Spirits Together
Sometimes companies just want to do something good. As Google continues to grow and expand its footprint and influence around the world, it seems logical that the Silicon Valley tech giant should have a long list of business collaborations in place with various interested stakeholders. Each year, Google donates millions of dollars in the form of grants and scholarships. In return, Google’s reputation as a globally-conscious and responsible company continues to soar. Not to mention its employees can sleep well knowing they work for a company that makes a positive difference around the world.
