Why Partnerships Are A Valuable Ingredient In The Marketing Mix

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Affiliate marketing is a well-established reach and conversion marketing strategy that helps brands expand reach and increase conversions. But as new research shows, the potential of partnerships can be further enhanced by investing in the next generation of partnership management platforms.

A new report from IDG Research and Partnerize finds strong support for partnership as a marketing strategy. More than half of marketers surveyed said partnerships were an important part of their strategy, with 16% saying they rely on partnerships more than any other marketing channel.

However, the report also found that addressing issues with legacy partner programs can increase adoption, especially if marketers can address persistent concerns about brand integrity and transparency.

Partnership Advantages

The report found that collaboration can help marketers achieve the dual goal of increasing brand awareness among new customers and increasing sales conversions.

When asked about their main reasons for using partnerships, respondents said they are more likely to invest in partnerships because they are a cost-effective way to increase brand reach (32.0%) or because they are an attractive way to acquire new customers (30, 0). %). .

Another 14% also found that partnerships offer a higher return on investment than competing digital channels, while 12% also found partnerships to be an effective mechanism for increasing average order value.

This wide distribution of results demonstrates a number of important benefits for affiliate marketers.

future opportunities

With 56% of respondents saying they will increase their use of partnerships in the next 12 months, and 16% saying they will at least maintain their current use, the future of partnerships in the marketing mix looks strong.

However, respondents also identified several challenges that, if addressed, could increase their use of partnerships, with 12% saying they would like to increase the use of partnerships but need more support.

The main issues identified were the need to better maintain brand integrity and protect against fraud, increase transparency around audience quality, and increase visibility into campaign performance. Respondents also noted the perceived difficulty in finding and recruiting different types of partners.

This answer is obviously based on experience, but it may present a historical problem with older partnership management software that often used manual processes. By working with the latest generation of partnership management platforms, many of these issues can be quickly eliminated, leading to more transparency and data-driven performance metrics, while automating a lot of research and mentoring for new and diverse partners.

conclusion

In general, this study demonstrates positive attitudes towards marketing partnerships and their strong ability to increase their contribution to the marketing mix.

Partnerize offers marketers a variety of tools and services that can help them dramatically increase the effectiveness of their affiliate programs, provide clear metrics for affiliate and campaign performance, and help marketers ensure their brands and communications reach the right audience in the right places. Partnerize's data-driven insights can also ensure partners are appropriately compensated for their role in making profits, whether they play a key role in acquisitions or transfers, or both.

Partnerize also offers a full suite of tools to help marketers more easily find the right partners to achieve their audience acquisition goals, then automate the partner recruitment process and provide them with the right connections and offers.

By using Partnerize, marketers can not only boost their existing affiliate business but can also grow it at minimal cost while ensuring they have complete control over affiliate and campaign performance.

As a way to increase awareness and sales, partnerships are a proven strategy. And with partnership, it has never been easier for marketers to ensure that they get the most revenue from their partners' business.

Discover partnership trends and insights from this research report from Partnerize, CMO Australia and the IDG research team.

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