The success of your brand-to-brand partnerships ultimately depends on your underlying strategy. The method in which you launch, scale and optimise your digital partner programmes to benefit target audiences.
Partner marketing software helps you:
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Monitor partner campaigns
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Track affiliate programmes
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Operate a closed network programme of partner rewards and incentives for your customers
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Supports development of partner marketing strategy through programme performance data
In this article we'll run through 8 essential criteria for choosing the right enterprise partnership marketing software for your business.
Contents
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8 Essential Criteria for Choosing the Right Enterprise Partnership Marketing Software for Your Business
1. Scalable solution - to support increasing volumes of partners and partner rewards
2. Provides access to a network of ready-made relevant partners
3. Offers platform to operate your own closed loop partner programme
4. Track record for working with enterprise clients
5. White Labelling: Speed of Deployment and Time-to-Market
6. Mobile first UI and CX
7. Roadmap of product enhancements
8. Onboarding process of new partners into rewards programmes
What is Partner Marketing Software?
In this instance we're not talking about partner portals or Partner Relationship Management (PRM Software).
We're focusing on finding a technology platform which allows B2C brands to offer added value to their customers through incentives and rewards offered by brand partners. This can be achieved in several ways.
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Showcasing offers an incentives from your existing network of partners
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3rd party incentives and rewards available via the chosen technology platform
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Integration to an affiliate network or affiliate program. This allows you to access and choose from hundreds of complimentary brands offering incentives and add them to your programme.
This is incredibly useful as a vehicle to increase retention if you operate a subscription or recurring revenue business model.
The value and benefits of partnership marketing deliver positive marketing outcomes that help increase ROI on your marketing budget. It helps attract new customers to your business through access to new audiences and increased brand awareness.
The success of your brand-to-brand partnerships ultimately depends upon your underlying strategy and how well your digital partner programmes are launched, scaled and optimised for the benefit of your target audience.
Partner marketing software gives your business the digital platform needed to monitor partner campaigns, track affiliate programmes, operate a closed network programme of partner rewards and incentives for your customers, and support for developing your partner marketing strategy, through programme performance data.
Why Do You Need Partner Marketing Software?
Partner marketing software automates programme operations and functions. For example, automation tools gives you the ability to track key partnership KPIs and metrics in real time. In addition to effective partner onboarding and accelerating campaign launches in cost effective ways.
Digitised partner campaigns supported with partner management software boosts your visibility, industry penetration and yield other benefits. Here's how:
Access a support network
The expertise, point of difference and unique, highly relevant rewards in closed partner networks give customers extra value. Access to such networks often come as integrated features on the platform. For example, the Propello platform offers clients access to thousands of potential brand partners.
The software helps clients identify their best fits in a ready-made network of partners. The types of rewards they offer may be complementary to your own products or services. As a result, your existing customer base and the partner's audience receive highly unique co-created rewards. A compelling value proposition that customers of both brand partners will not see anywhere else.
Data and affiliate tracking software that comes with the platform clearly shows the impact of the partnership. Detailing acquisition, engagement and redemption rates. Bear in mind that the software should also include affiliate management features and partner relationships management capabilities.
Provides transparency of digital campaign success
Partner marketing software provides transparency of partner performance too. Overall digital programme success gauged via holistic data of transactions and reward redemptions rates signal ROI metrics. Such data at your fingertips allows for data driven decisions, target marketing and impactful programme optimisations.
To reduce costs
Launching and scaling cost effective and engaging digital partnership programmes cut your sales and advertising costs. As o by launching and scaling cost effective digital partnership programmes that are more likely to engage customers. as opposed to more traditional and potentially expensive initiatives such as PPC advertising.
To create growth opportunities and increase exposure
By establishing new alliances, you can revamp your business and look into fresh possibilities for growth. Additionally, you can test new digital partner programmes and affiliate marketing campaigns in a secure digital environment.
Another benefit is that you can grow your business by reaching new markets and audiences. Leverage your partner's reputation to tap into new markets and audiences.
8 Essential Criteria for Choosing the Right Enterprise Partnership Marketing Software for Your Business
Partner marketing software features and capabilities differ. Here are some tips to help you choose the right technology platform. One capable of supporting your enterprise level digital brand-to-brand partnerships.
1. Scalable solution - to support increasing volumes of partners and partner rewards
Choose a solution that is fast time-to-market and scalable. For example, a white label provider like Propello negates the need for hiring developers. You would license and existing platform instead of building one from the ground up (which comes with its own challenges).
A scalable solution should also guarantee robust security that fully accommodates growing customer bases.
2. Provides access to a network of ready-made relevant partners
Finding the right partner is sometimes complex. The alliance must be mutually beneficial to both parties. Ultimately it must lead to positive commercial outcomes and achieve business goals. Whether that's to boost brand visibility, enter new regions or break into new markets.
Your chosen technology platform provider should ideally match you up with the right fit. At Propello, we use a brand matrix that determines the viability of proposed alliances. Use this tool to determine the success and even the different types of partnership programmes you should pursue.
First time digital partners should consider end-to-end software providers for other reasons too. Namely, to access rich reward content, technical resources and expertise, essential customer support teams and other management tools.
3. Offers platform to operate your own closed loop partner programme
The platform should also allow you to import your existing systems. In other words, fully integrable and capable of working around your usual operations. It should accommodate your emailer campaigns, customer journeys, and serve other marketing activities.
The costs, technical skills, and people overhead to deliver a programme can be daunting. Your chosen partner marketing platforms should ease budgets for funding internal technical and marketing resources. Particularly when it has partnership management functions that allow for seamless coordination and collaboration between you and partners.
4. Track record for working with enterprise clients
A proven track record of driving results in your industry or related fields and getting the necessary outcomes is a plus. The technology provider should have a track record of successfully acquiring, developing, and converting new clients who are in the enterprise size range or smaller leading brands within your market niche.
Its capabilities must also include providing high levels of professional customer service.
5. White Labelling: Speed of Deployment and Time-to-Market
White label collaborations can be instrumental in the success of your business. Whether you choose to align with other brands or provide services directly to your customer base. Fundamentally, a white label solution involves a company acquiring and rebranding a product as its own.
Typically sourced from a software-as-a-service (SaaS) provider, which grants usage rights through a subscription model. Collaborating with a white label partner (like Propello) allows for the integration of a proven platform and its programmes.
It also provides access to the expertise of a seasoned group of technology and loyalty professionals. This collaboration streamlines the configuration process and substantially decreases time-to-market for your business. Meaning your loyalty and marketing initiatives can begin increasing sales much quicker.
6. Mobile first UI and CX
Your ideal partner marketing software should allow you to create highly customised and mobile optimised customer experiences. This should cover, messaging, branding, reward content and gamification elements across multiple devices.
7. Roadmap of product enhancements
Your chosen partner marketing automation software should present a roadmap. This should outline both the product vision and strategies envisioned to achieve it. A transparent depiction of the product's future trajectory and the provider's adaptive capabilities is essential. This ensures the platform remains aligned with your evolving requirements.
A well-defined vision and strategic direction for the product serve as guiding principles that shape and enhance:
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Your partnership initiatives
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Customer loyalty programmes
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Retention strategies over time
The provider's adaptability ensures their technology evolves with your changing needs. Culminating in a foundation of sustained success in your partner marketing efforts. A technology provider with a a commitment to flexibility is a valuable asset in your partnership marketing.
8. Onboarding process of new partners into rewards programmes
Streamlining the onboarding process for your brand partners and ensuring they have the necessary resources for success is paramount. The process should be both straightforward and automated. The software should include a user-friendly dashboard, providing real-time insights into your partners' progress at every stage. This dashboard not only facilitates monitoring but also alerts you when your partners require assistance, fostering a responsive and collaborative environment.
Furthermore, an effective software solution empowers you to automate communication through the dashboard. This includes the ability to send automatic email sequences or a guided onboarding experience for your partners. These automated sequences serve a dual purpose.
Not only do they make the onboarding process seamless. It also nurtures your partners' interest in your business over time. Leveraging such a comprehensive tool, enhances the efficiency of onboarding, fostering strong and enduring relationships with your brand partners.
Partner Marketing Playbook
Download the Partnership Marketing Playbook for essential insights to help you build the ultimate partnership marketing programme with the aid of technology.
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