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Question about Marketing Partnerships

Discussion in 'General Entrepreneur Discussion' started by 404profound, Mar 1, 2019.

  1. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    As I get closer to finishing my web app I am beginning to consider options for marketing on a shoe-sting budget. One of the routes that looks open is to seek a marketing partnership; in my mind partnering with other companies whose sales would grow as a result of my sales growing. Has anyone ever taken this approach / have insight to offer about how to enter this strategy?

    - Cheers
     
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  2. Dennis Kaiyer
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    Dennis Kaiyer New Contributor

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    If this is your only choice then I'd consider it (and any other kind of joint ventures or strategic partnerships to be a smart move. You're essentially sacrificing a cut of the profits as an expense but only if someone gets you a sale anyway.

    I had some luck doing partnerships for boostrapping reasons a few years ago for a LinkedIn marketing software I created. I actually had a deal with a developer to build it, and then deals with people with followings in that niche to promote it for a cut. So I just put it all together and made a profit for that. Granted it was less than if I tried to promote it all myself and code it myself, but it was nearly hands off so I'd rather focus on working ON growing that stream of income than IN it as they say.

    My experience was good. I recommend using SimilarWeb website and gathering information about your niche and finding out all the "competitors" how high their traffic is and where it comes from and manually search socials and their followings. Then approach them with well laid out marketing pages where they can signup and promote. There are some good online affiliate tools you can set up your own affiliate program with. I think I used WarriorPlus at the time and JVZoo though. Treat the partners as gold, overdeliver, over reward and they'll become your evangelists broadcasting your message of hope to their following. I sold my program and moved on to the next thing eventually before what I'd hoped was the next step which was having them promote the affiliate system itself as a JV Partner. Meaning they get their thousands possibly tens of thousands of followers to signup to the affiliate program, possibly with a blog post based on their successful experience and then they get say 10% of each of the affiliates they bring in.

    This is all "upstream" stuff, consider down-stream too. Perhaps reciprocate the recommendations and promotions by cutting deals with all these people in the same niche and adding them as special offers to your download, thank you page or sales funnels and follow up contact.

    The possibilities are endless with partnering. Just think about what you have no time, understanding of or what drains your energy and someone else out there has a passion or resource available and you just have to match it up.
     
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  3. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    Thank you for this great answer! I will keep this info in my growth plan.
     
  4. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Yep. It’s almost my first port of call.

    “Who already has your customers.” (Jay Abraham)

    You don’t need to officially “partner”. If your solution can help someone’s customers then they may want to tell them about it anyway. That’s the ideal... where people tell others of your solution - because it helps people.

    Be seen to help their customers.
     
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  5. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    Great point, thank you!
     
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