21 Mar Why Partner Marketing is the Best Way to Scale
Is your agency bursting at the seams? That is great news! Although rapid growth can feel good, it can quickly become a pain point. Partner marketing is a practical solution.
Similarly, perhaps you wish you were up to your eyeballs in clients.
Whether you have more work than you can handle, or you’re in desperate need of clients, partner marketing is an ideal solution.
By forging a cooperative partnership with another successful agency, you’re guaranteed to reap the rewards. Don’t let your pipeline run dry when there are plenty of resourceful marketers willing to help you.
Overworked and Underpaid?
Let’s say your team is fantastic at sales. However, they are feeling stretched thin and slacking on completing projects. Try joining forces with a robust agency, and you could score a new workhorse.
Starting a business can be daunting, but you could find relief by making deals with larger companies.
Don’t solely rely on your network and pipeline of leads. Piggyback on the success of others. You’ll have more resources and be able to grow more efficiently.
Leverage Your Agency
You will gain a boost in brand recognition by associating yourself with strong names. It’s like having a stamp of approval from a household name or celebrity.
Join forces with high-profile partners. There is no better way to leverage your agency.
Old-school networking with organizations like BNI and AMA still has its place. However, if you aren’t utilizing some of the agency partnership networks out there, you’re missing the boat.
The digital era has completely changed the way we run our marketing agencies. Teams collaborate remotely and are dispersed around the world.
Project management is no longer a whiteboard on an office wall. Now it’s within apps such as Trello, Airtable, and a gamut of other software tools.
This digital revolution is opening new doors. It has never been easier to grow a marketing agency.
Brand Recognition is Lead Generation
The majority of large software companies offer “partner networks,” with a plethora of resources. They usually include a “partner portal.” These members-only login areas are brimming with knowledge, forums, templates, and other incentives.
However, you can’t just sign up and wait for leads and partnerships to come knocking. To find success on these platforms, you need to contribute.
With a give and take relationship, you’ll find opportunities. Here are a few excellent examples hosted by SaaS apps. Take advantage.
SaaS Hosted Partner Networks
This is the gold standard for agency partnership communities. You’ll be able to collaborate with other Salesforce experts.
Also, dig through the rich reserve of consultancy resources, and share newfound confidence with your clients.
There are some other unique perks, such as the AppExchange marketplace.
They coined the term “inbound marketing” and have become an industry leader. Their partner program does not fall short.
You’ll gain credibility by being added to their searchable database. There are agency resources galore as well as support documentation and templates.
If you’re selling e-commerce websites, then you’re most likely already using Shopify.
Integrate your agency into their community of partners for support, a useful forum, and agency relationships.
By joining, you’ll also gain access to Shopify designers, marketers, developers, and more. Plus there’s a client referral kickback to boot!
This premier social media management platform hosts an outstanding and innovative partner program.
The Sprout Social agency Slack channel is enough reason to join. You’ll be able to collaborate with agencies worldwide. Enjoy a goldmine of social media tips and partnership opportunities.
Taking into consideration that the average marketer’s “stack” includes 12 tools, most agencies could use some help. Therefore, having access to a knowledge-base and a helping hand is invaluable.
Partner Marketing Models
A referral partner is an agency partner that will generate leads and pass them to you for a percentage.
Referral partnerships are easily confused with affiliate partners. However, referral partners generally offer more than financial incentives, such as “word of mouth” and social media mentions.
Partners that collaborate and share resources with each other are “technical partners.”
For example, sourcing an expert programmer to finish the iOS app project you couldn’t turn down, but your developers weren’t ready to tackle.
Technical partners can take a massive weight off your agency’s workload, and come in handy during times of rapid growth.
Sales and Support Partners
Sales and support partner share strategies and resources with each other. Some agency partners will want to “white label” your services. Similarly, others will have you directly work with their clients.
Be flexible, and you’ll find your client cup is overflowing in no time.
There is Enough to Go Around
Don’t let the idea of competition hold you back. It’s essential to realize that partnership arrangements rarely overlap services.
Instead, agency partnerships usually compliment and layer services with one another.
Nobody is forcing you to work with your direct competition. Usually, partners will have a similar or identical audience but offer different services. In marketing, this is a successful partnership model.
Rapid Growth Model
Imagine connecting with an agency that is highly successful in an area that you haven’t been able to break into.
For example, the owner of an agency that specializes in paid ads, but isn’t selling websites, meets the proprietor of a web design firm. Even in a seemingly competitive local market, it’s a match made in marketing heaven.
Is the world reaching its saturation point with marketing agencies? Probably not. However, in 2016 there were over 13.3 thousand advertising agencies in the U.S. That’s just in the advertising sector.
The advertising industry is expected to grow in revenue of 5.5 billion dollars by 2020. Don’t go it alone and risk getting lost in the mix.
By learning to connect with other successful agencies, you’ll gain recognition and help when you need it most. Experience the growth accelerator that is partnership marketing.