Only a few years ago—practically an eternity in internet time—an email newsletter called DailyCandy was the belle of the marketing ball.
Brands elbowed each other out of the way to reach the newsletter’s large (and demographically alluring) subscriber base, and eventually this competition drove up prices. What was once a great deal became, essentially, a bloated ad buy. Many brands were priced out entirely, and those that stayed on board found themselves scrambling for another way to reach new customers when the newsletter shuttered in 2014.
We’re seeing the same thing happen today with pay-per-click marketing platforms such as Google and Facebook. While these platforms still have their pluses, high demand has driven up the price in recent years, meaning that brands are often left paying more for the same level of performance.
This doesn’t mean that companies should stop advertising with Google and Facebook. But it does illustrate the importance of building a diverse marketing portfolio. One way to do this is through partnership marketing, a term that applies to any outcome-based partnership enabled at scale via digital technology.
Based on my experience, here are three ways partnership marketing helps brands diversify their marketing efforts—and how to get it right.
1. (PRACTICALLY) UNLIMITED PARTNERS
As a channel, partnership marketing has diversity “baked in” to the model. Some companies do take a somewhat limited view of partnership marketing (for instance, retailers...
Read Full Story: https://www.fastcompany.com/90687872/how-to-diversify-your-marketing-portfolio-with-partnership-marketing
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