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Why Should You Focus On Partnerships?

Why Should You Focus On Partnerships?

If you were an investor looking to protect your investors’ money, what would you do? You would of course try to diverse the portfolio and not put all eggs in one basket. This way, you can protect your investments from going awry when a stock fails.

Similar to the diverse portfolio strategy, as a marketer, it is your responsibility to protect your product and company against the unpredictability of the market and step beyond the comfort zone. Let’s learn some in-depth strategies on doing that.

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Partnership Marketing Helps You Focus On Outcomes Not Processes

Partnership Marketing Helps You Focus On Outcomes Not Processes

Would you rather spend on advertisements knowing that despite setting the targeting, choosing the look-alike audience, adjusting bids and budgets, your ads might still not bring enough audience for your product to be profitable?

Or would you rather want to invest in a partnership where you pay for the customers who bring you good business?

Of course the latter is a good decision right?

This is exactly what Partnership marketing helps you achieve. By offering a commission to your partners, you can let them bring qualified leads for your business this resulting in more business.

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Partnership Marketing Is Scalable

Partnership Marketing Is Scalable

With the help of technology and advanced platforms, running partnerships with several businesses who would bring leads to boost your business is not only easier but scalable as well.

The best thing about partnership marketing is that the cost-benefit ration remains constant. Whether you make $100 or $100,000 in revenue, the commission you set will stay the same more or less.

Partnership marketing is also sustainable. It helps you build long-term partnerships and relations with several businesses and you grow together. You benefit each other and thus foster a fair and beneficial marketplace.

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Partnership Marketing Helps You Compete Against The Giants

Partnership Marketing Helps You Compete Against The Giants

If you sell mineral water online, would you be able to directly challenge Amazon who also sells mineral water?

Probably not right? With the colossal marketing budget at its disposal, Amazon has already put many businesses — out of business. So what can you do?

Well, you can leverage partnership marketing to partner with small businesses like you which will then help you grow. While Amazon also offers affiliate partnerships, it can’t offer the personal and emotional touch like you can.

Do make use of it. Brainstorm with your partners, offer personal touch in your and their marketing and win!

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Slash Your Upfront Costs

Slash Your Upfront Costs

Build business like Uber and AirBnB which doesn’t own any asset and yet offers hundreds of thousands of cars and properties to its customers. When they first launched, they offered incentives to partner with car and house owners who in return opened their cars and homes to strangers, worked hard to maintain customer satisfaction and thus, helped Uber and AirBnB grow more than ever.

By building a marketplace business model, you can easily offer and build partnerships where the partners will strive to help you maintain your reputation and in the process will help you adapt and succeed.

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Influencer Marketing Works Like A Wonder For Small Businesses

Influencer Marketing Works Like A Wonder For Small Businesses

What if you can partner with tons of mini influencers in your niche who will help you build and connect with your audience in exchange for a set fee, commission or free products

These influencers work hard to maintain their following and they produce engaging but original content to build trust and authenticity with their audience.

Integrating influencer marketing in your broad marketing goals, you’d be able to reach more audiences without having to spend millions in fruitless advertising campaigns.

This helps you build more meaningful connections driving better results and thus higher revenue.

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TALHA MUMTAZ

Partnership marketing is the future of growth. If internet has presented us with any opportunity, it is the power of connecting with more audiences without having to spend millions in ads or competing with giants head on. Integrate these strategies in your marketing and you will win in every situation.

TALHA MUMTAZ

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IDEAS CURATED BY

talhamumtaz

Full-time reader and part-time growth consultant on a quest to understand the world by drawing wisdom from the great minds of today and yesterday.

CURATOR'S NOTE

Learn why Partnerships are the future of marketing and what strategies can you deploy to win more users / customers for your business in the short and long term.

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