The year 2024 has dawned. Businesses have returned with a renewed energy to the hustle and bustle after a long season of festive celebrations. A strong determination to achieve significant milestones can be seen everywhere. Some are opting for the conventional marketing approaches, whereas others are embarking on the opportunities of partnership outreach.
Partnership outreach could be a new term to many and might raise eyebrows for some. But is it something that you should be worried about if you haven’t embraced it yet? Worry not. We are here to answer them all for you.
Moreover, we have shared 5 Best practices that businesses can follow now to keep themselves ahead of their competitors.
What Is Partnership Outreach?
Partnership Outreach as the name suggests, is a well-planned, studied, and strategic process where businesses proactively reach out to affiliates, influencers, or collaborators to nurture a fruitful collaboration and partnership for them and their business.
Why Should Businesses Invest in Partnership Outreach?
Partnership outreach is massive and holds the potential to open avenues for growth, collaboration, and strategy that may bring mutual success. But strategic execution is the only task.
Below mentioned are three benefits that would help you understand business outreach better:
- Building Fruitful Partnerships With New Affiliates: Influencers/affiliates play a major role in promoting businesses in exchange for commissions on the total sales generated. This is not exclusive to B2C, however, 40% of US Companies with a digital presence consider this model to be more efficient than their conventional marketing approaches. By practicing partnership outreach helps identify suitable affiliates for your businesses, laying the foundation for profitable collaborations.
- Building Relationships With The Industry Leaders: Partnership outreaches give you access and comfort to meet the tycoons of your industry. You might be working with the same group of affiliates or advertisers, promoting similar products or services. So this might give you a chance to meet the industry leaders in the same opportunity. Also, if you are from SAAS or the ad-tech industry, it opens the door to integrations too.
- Building New Co-Marketing Opportunities For Businesses: Understanding your buyer’s persona presents ideal opportunities for co-marketing initiatives. This could involve collaborating on various services such as reports, co-hosting webinars, or newsletters mentioned. Addressing recipients by their name, clearly stating the purpose of outreach, and highlighting reciprocal benefits make partnership outreach campaigns shine brighter.
Now, you have learned a lot about the benefits. Let’s discuss the best 5 practices you can implement to encourage partnership outreach models.
5 Best Practices To Partnership Outreach:
Make LinkedIn, business listings, and other B2B databases your friend:
LinkedIn helps you to reach your prospects for relevant partnership opportunities. You can search for relevant prospects based on industry, job title, and more. You can also take advantage of sales navigator subscriptions, and also build specific lists to stay organized. Many users also helped you to build a highly targeted email list. Most target them using cold emails, whereas others save them to generate new collaboration opportunities.
However, these newly generated B2B databases are prone to decay every year. So, we would ask you to save this for the future to create healthy relationships.
Adding emotions in your personalization email can be a win :
Crafting personalized outreach emails is a crucial best practice, ensuring your message rises above the clutter in your affiliate’s inbox. By doing so, you can immediately form a genuine investment in building meaningful relationships.
You may include these personalized elements in your emails:
- Add the first name of your affiliate and company name
- Tailor your needs and do your research before reaching out
- Add personal lines and messages. Avoid forceful selling pitches.
Now consider this example, if you deliver an email with the sentence, “ Liked your latest post”, it wouldn’t get a desirable opening rate. However, if you say something like, “ Found your latest post valuable for business”, it will make it clear to them that you are not only reaching out to them but have researched or watched them before sending an email. The affiliates would value your time and the chances of you getting a reply would also increase.
Affiliates deserve to know the real reasons for their onboarding:
An affiliate is like a person next door whose prime motive is to earn money by promoting your products or services using their marketing skills. The owner/business representative must remember that these affiliate partners are not exclusively working with their brands. They might be busy while promoting other products or brands. So, it becomes the brand’s responsibility to educate these onboarded affiliates about their target audience and the ways or modes through which they want their affiliates to promote their products or services.
Sending follow-up emails is no shame:
Affiliates are the second busiest set of people after the one finding them. They would help the businesses to boost their sales, launch their new campaigns, and earn new audiences. All these activities could keep them busy, and they might find no time to reply or respond to your first affiliate outreach.
The studies show that the majority of outreach comes from the follow-up email delivered to them. So, we would highly recommend you hit the enter button after writing your follow-up email. Tell them what exactly they are missing out on and how you can be their stoppage to end the hunt operation.
Now when the basics of completing the partnership outreach have been completed. Let’s learn about the ways to track them.
Track the performance of onboarded affiliates using Trackier
A partnership can make or break any business. To make any partnership program, both the businesses and affiliates need to show a collaborative spirit. Though the brands can’t force an affiliate to promote their products or services every time, they surely can keep an eye on the way they are promoting or working to make this partnership fruitful.
Trackier performance marketing software could be the finest option for them to track the functioning and also the outcome of their affiliates. This is believed to be an ideal software for brand owners and businesses to create and manage new campaigns with ease. Besides, they also get access to track the campaign reports and streamline their payouts. As far as the fraud is concerned, the inbuilt anti-fraud features provide complete peace to keep their campaign health safe.
Partnership outreach is not a new yet unexplored marketing model for many businesses looking for success. But now when you are reading this line, we believe that you have learned enough about partnership marketing, and may run a successful program for your business. Lastly, you may rely on the Trackier performance marketing software to keep check of the active campaigns too. However, if you still have any questions or queries, feel free to reach out to us and we would be happy to help.