Signs that your company needs a partnership marketing solution

 

Sometimes, it can feel like your business is simply struck and incapable of progressing like you hope it would. While there can be many such causes of this issue, one that you may not have considered is your inability to create, keep and manage valuable partnerships that can allow your company to grow naturally and really flourish. In that case, your company may need a partnership marketing solution. Below are some signs that may be the case.

You’re New to Your Industry

Many larger companies may have been founded as long ago as 100 years or more. As such, they may have had many of the same partners in regard to marketing and other parts of the business for decades upon decades. Newer companies, however, come in at a disadvantage by not having these same relationships. It may be difficult or even awkward at first to forge the marketing partnerships you need to succeed. However, utilizing a marketing partnership solution from a company that has years of experience in your industry can help you more quickly and successfully bridge this gap.

Your Product Gels Well with Other Products

In certain cases, products do not compete against each other in an open market. Instead, they compliment each other. The age-old example would be hot dogs and hot dog buns. Even if the sausage company and the bun company have no common corporate ownership, they can still work with each other in marketing campaigns for the shared benefit of both brands.

Think of different kinds of companies you could benefit from developing a shared marketing campaign with. There may be many examples. If you write computer software, obviously, entering into a partnership with a computer or phone manufacturer may be a good idea. However, for maximum results, you have to think outside the box. There may be possible partnerships you have yet to even consider.

You Have Trouble Managing Your Current Partnerships

In certain cases, a business owner may have the current marketing partnerships they need. However, the problem comes in regards to effectively managing and coordinating those partnerships in a way that can create shared success. You can use partnership management software to help you more effectively manage these partnerships. Such software can allow you to do things like monitor the activity of partners for fraudulent behavior, automate the contracting and paying of partners, track partnership performance and much more. All of this can be done through the cloud, making the process even more efficient and convenient for you.

You Need to Reach a Specific Audience

In other cases, you may need a new marketing partner solution because you are unable to reach the target market you are aiming for on your own. If a partner brand already has deep penetration into that market, a joint venture could help you get your foot in the door, so those consumers are finally informed of your brand. This is often the case for marketing partnerships.

It’s not that the products are directly tied to each other. It’s that they both share the same target demographics. While cars and fashion may not seem to have much to do with each other, Louis Vuitton and BMW joined together multiple times in the past on marketing ventures due to the fact they share the same common demos for customers.

You Need to Save Time and Resources

The resources available to a given business are finite. The time you do have should be spent squarely on improving your products and serving your customers. While marketing partnerships are important, your employees shouldn’t have to spend an inordinate amount of time managing them. This is why the implementation of a partnership marketing solution such as a cloud-powered software suite is so important.

Using such a solution can help automate a good amount of the work that is required to manage your marketing partnerships. Certain tasks, such as making payments or contracting, will be automated completely. You’ll be able to check on the status of partnerships and make sure key indicators for success are being reached without having to devote so much time to research. Instead, the software will supply you with the requested data immediately.

Overall, there are many different scenarios in which investing in a partnership marketing solution such as a cloud-based platform is a very good idea. Doing so can help you save time and resources, help you reach a new audience, help you gain the credibility you need to enter new markets and much more. Certainly, you should at least explore the possibility.