Ultimate Guide to Partner Marketing Strategy: Tactics, Tools & Templates

The partner marketing approach is under a separate brand. Two companies work together. They share their clients and exchange ideas. It also operates both in B2B and B2C. In the case of B2B, a company would be working with a reseller or technology partner. Within B2C, organizations typically work with another organization or a mega influencer.

This is beneficial to the two brands. We shall demonstrate the definition of partner marketing and how it can be done. The guide has strategies, resources, and plans.

What is Partner Marketing?

Partner marketing is the association of two firms. They collaborate on one campaign. Two brands can be used as an example, making one advert. Both products are featured in the advert. It is shared by both companies with their readers. This way, they reach a greater number of people.

Types of Partner Marketing Strategy

Partner marketing has many forms.

• Co-marketing / Co-branding: Two brands collaborate in terms of content or product. As an example, a sports celebrity and a shoe company make a co-branded sneaker.
• Channel Partner Marketing (Resellers): A partner resells your product to their clients. An illustration is a technological company selling software either via agents or stores.
• Referral / Affiliate Programs: The customer or the partner attracts new buyers. They are contracted per purchase. One of the examples is that a blog sends a link to your product. When the readers make purchases, the blogger is paid.
• Joint Events and Webinars: Two brands collaborate in order to organize a single event. They educate the customers on the products.
• Sponsorships: Sponsors fund an event held by a partner or the other way round. Both brands receive promotion in the form of logos and shout-outs.

Such strategies increase publicity and credibility. They are typical joint marketing tactics.

Partner Marketing vs Affiliate Marketing

One form of partner marketing is affiliate marketing. Affiliates are, however, in most cases, small promoters.

• Affiliate: An affiliate is an individual or a website that refers to your product. They make a commission each time one purchases.
• Partner: A partner may be another company. Couples can have content and followers in common. To take an example, a webinar can be jointly hosted by two businesses.

Both affiliates and partners bring new customers. They are ways to grow sales together.

Partner Marketing Benefits

There are numerous advantages of partner marketing.

• Reach New Customers: You access the audience of your partner.
• Shared Costs: You are sharing marketing content and budgets. It is cheaper this way.
• Build Trust: A recommendation by a partner will help the customers gain more trust in you.
• More Leads and Sales: Increased visibility translates to an increase in potential sales.
• Better Content: Ideas and content can be created jointly by two brands.

As an example, one blog or video can be shared by two brands. They split the cost in half.

How to Build a Partner Marketing Strategy

1. Set Clear Goals: Specify what you desire e.g. increased sales or brand awareness.
2. Identify Partners: Select businesses that have the same audience or values. They are supposed to be a complement to your products.
3. Create a Joint Plan: Develop an effective story about being better together. Elaborate on the reasons customers will find both brands viable.
4. Plan the Campaign: Determine the strategy. As an illustration, a referral program or plan can use co-branded content.
5. Enable Your Partners: Arm them. Training, product guides and marketing materials.
6. Launch and Promote: Conduct the campaign jointly. Publish on posts, advertisements, and emails of both audiences.
7. Track and Measure: Measures are used to monitor outcomes. Check whether objectives are achieved such as in sales or sign-ups.
8. Adjust and Improve: Check the feedback and data of the partner. Revise your plan to the following campaign.

Partner Co-Marketing Strategy

Co-marketing implies that two companies divide the marketing responsibilities. In a single campaign, they head out together. This is often free or cheap.

• Co-Branded Content: Co-create content, be it articles, videos or graphics. Each brand adds its own style. Share on both channels.
• Joint Offers: Combine the products of the two brands in a special offer. As an example, a phone and a music subscription.
• Shared Events: Co-branding contests and webinars. Use both networks to promote.
• Cross-Promotion: Post on social media and email each other. Both brands are advertised in each of the posts.

As an example, HubSpot and Chatfuel joined forces on an ebook. They spread it and gathered leads with each other. This assisted the two companies in expanding their contacts.

Partner Enablement Strategies

Couples should be enabled to promote your product. Enable them with:

• Training and Onboarding: Educate the partners on your product. Make use of videos, demos and easy-to-follow guides.
• Marketing Materials: Supply logos, pictures, case study and content outline. Ensure that they promote you easily.
• Regular Communication: Have constant contact via calls or a partner portal. Timely share news and updates.
• Technology Tools: Use the PRM system or a shared drive of documents. This makes everybody in check.
• Incentives and Feedback: Have rewards for achieving goals. Inquire with your partners on how things can be improved.

Partners are your kind of team extension. In assisting them, you will also be able to assist yourself.

Partner Co-Marketing Programs

The partner programs provide structure to partnerships. Examples include:

• Referral Programs: Referrals are made by customers or affiliates. Each referral is rewarded or commissioned to them.
• Reseller/Channel Programs: Certified Partners: your product is sold by certified partners. They are normally offered a discount and commissions on sales.
• Co-Op Marketing Funds: Partners receive budget on endorsed joint ads and occasions.
• Loyalty Rewards: Award partners with sales objectives.
• Event Partnerships: Cooperate on trade shows or webinars and share the expenses and leads.

The obvious partner marketing plan establishes payout and branding regulations. It informs partners of how to deal with you.

Partner Marketing Plan Template

This is done through a partner marketing plan and this allows you to organize your strategy. It usually includes:

• Focus Areas: Main goals (like partner acquisition or brand awareness).
• Objectives and Actions: Activities of each area of focus. The examples include: register 5 new partners or post 3 co-branded blogs.
• KPIs: Success measures (referrals, leads, and sales).
• Timeline and Roles: When tasks happen and who does them.
• Budget: The amount invested on common activities.

Free templates are used by most companies. As an example, Cascade and Bit.ai provide free templates of Google Sheets. They can accommodate goals, projects, and KPIs. You are allowed to edit them to suit your requirements. With a template, nothing is omitted. It also keeps everyone on the same page.

Best Partner Marketing Tools & Templates

Partner marketing is easier with the help of tools. Here are some useful ones:

• HubSpot CRM (Free): Track contacts and deals of partners.
• Google Analytics (Free): Measure traffic and partner link conversions of the websites.
• Trello or Asana (Free): Work with your colleagues and partners.
• PartnerStack (Paid): Partner and affiliate program management software (fantastic on SaaS).
• Allbound or Impartner (Paid): Relationship management systems and portal.
• Mailchimp (Free/Paid): Email marketing to use when conducting co-marketing.
• Canva (Free): Co-brand graphic and visual designs.
• Slack or Zoom (Free): It is the easiest way to communicate and meet with partners.
• Bit.ai or Google Sheets (Free): This one is used to share partner plans and track.

Large programs have more features in paid tools. Pick what works best for you.

Examples of Partner Marketing

• HubSpot & Chatfuel (B2B): These two collaborated to create a free ebook on chatbots. They were marketed by both companies and the new leads were shared.
• Adidas & Gucci (B2C): They launched a collection of co-branded pieces with the two logos. This received enormous media coverage and searches.
• Starbucks & Spotify (B2C): Starbucks has implemented Spotify music into its loyalty scheme. Starbucks points were awarded to members for playing music.
• Red Bull & GoPro (B2C): They collaborated in extreme sporting activities. GoPro would capture the stunts with the help of the cameras and post the video.
• Microsoft & Cisco (B2B): They both offer a network combined with cloud solutions. The combined product is sold to business clients by both companies.
• Xero & Accountants (B2B): Accountants market the Xero software to their customers. This partnership attracts new customers to both.

These are actual applications in B2B and B2C. In both, couples have audiences and objectives to expand.