How to succeed at brand partnerships

Brand partnerships, once largely thought of as the preserve of consumer markets, continue to gain popularity in the B2B sector as a cost-effective way of reaching new customers, boosting loyalty and improving ROI. Here are the six keys to success.

Whether it's running a joint campaign or piggy-backing another brand's communication channels, successful partnerships can:

• Leverage brand endorsement
• Add value to your products and services
• Boost customer loyalty
• Improve customer perception
• Significantly increase your communications’ reach.

Unsurprisingly, B2B companies are sitting up and taking notice, but how does one identify and secure that dream brand partnership?

1. Have a plan

Start with clear objectives. Ask yourself what you want to achieve from a partnership. Do you want to acquire new customers, reward existing customers, or benefit from brand endorsement? Having a set of clear and honest objectives to refer back to will help keep you focussed when it comes to finding the best fit.

2. Draw up a shortlist

Your next step is to identify actual potential partners. Start by weighing up the advantages each brings and how they complement your own offering. Bear in mind their relative size, geographical location and communications' routes. Make a shortlist of partners that match your objectives.

3. Acknowledge your own strengths

Many organisations find the thought of approaching a potential partner and then negotiating a deal daunting, but it really needn’t be. The best way to tackle it is by putting yourself in your potential partner's shoes and developing an attractive proposal that shows them exactly what they stand to gain.

Many of RIBA Insight’s products and services were born out of a recognition that manufacturers and suppliers to the construction industry see immense value in an open, trusted and trustworthy communication channel with architects and specifiers. Featured articles on theNBS.com Home page, CPD via the RIBA CPD Providers Network, and product information in select and on ribaproductselector.com – all represent a form of piggy-backing partnership where both parties benefit.

Always remember that things you take for granted may be very attractive to a potential partner.

4. Take care of the details

If you’ve planned and negotiated intelligently then by the implementation stage you should both be in a strong position to move forward together. Organisation and an eye for detail will now make the difference. Ideally, you should appoint an independent project manager to manage implementation. This will lend the campaign objectivity and give it momentum. If that’s not practical then each partner should make one person responsible for delivering the project.

5. Establish clear lines of communication

...And ensure they extend to all key decision-makers to help resolve issues quickly. If the campaign involves some form of creative (and most do) then make sure that the creative team is fully briefed on both party’s expectations as regards integration of copy and branding.

Bear in mind also that some types of campaign may require internal channels to be set up prior to implementation, such as customer service departments to cope with enquiries, or marketing teams to exploit PR opportunities.

6. Measure the results

The success of partnerships can and should be measured, as with any marketing activity. The exact technique employed will naturally have to depend on the nature of your campaign. For example, response rates, sales uplift, redemptions, opt-ins, footfall, focus groups and research are all viable forms of measurement. If you're relying on your partner to provide you with information, be clear on what your expectations are and include this at the negotiation stage. Plan a full debrief session at the end of the campaign to discuss the results, feedback and lessons learned from your partnership activity.

Piggy-backing brand endorsement opportunities with RIBA and RIBA Insight

 

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