Create value for customers at no cost by offering your platform as a marketing channel for partners. A local sports league can partner with restaurants to provide free food, enhancing the player experience while giving vendors access to a targeted audience.
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Instead of shouldering the full financial and promotional burden of a first-time event, partner with other companies. By splitting costs and co-promoting to a shared target audience, you significantly lower risk and can test the marketing channel more affordably.
Despite their power, premium offers are a poor starting point for new ventures without established credibility. Use free or discounted 'foot-in-the-door' offers to prove your value and build a reputation, then transition to a premium model. This approach de-risks customer acquisition when you're an unknown entity.
Instead of generic gifts, thank customers with gift cards to other local businesses like coffee shops or power washers. This supports the local economy and can create a powerful, reciprocal referral network with those businesses.
The most effective partner marketing strategy isn't about getting partners to resell your product. Zendesk's Amy Avalos argues it's about enabling them to sell their own unique value, with your technology as the engine. This positions them as trusted advisors and strengthens their brand.
Innovate by adding unique, low-cost features with high perceived value. For a sports league, this could be live commentary by volunteers or custom trading cards, creating a premium experience that justifies a higher price.
To find new revenue streams, analyze what your customer does immediately before and after interacting with your product. A gym could sell apparel (before) or smoothies (after). This "share of wallet" strategy increases lifetime value without acquiring new customers.
When creating partner marketing assets, avoid bespoke one-offs. Instead, build foundational tools that the partner with the fewest resources can use 'out of the box.' This ensures scalability, as more advanced partners can still adapt and customize the core components for their own needs.
Instead of running their own ads, an influencer can propose a deal to create ad content for a partner brand. The brand funds the ad spend, and the influencer accepts a reduced commission (e.g., 20% instead of 40%) on sales. This generates risk-free revenue and free brand exposure for the influencer.
Structure onboarding calls to guide clients through setting up necessary third-party tools using your affiliate links. The commissions can pay for the onboarding team and even cover customer acquisition costs, turning a cost center into a profit engine.
Instead of bearing the high cost of hosting its own conferences, a trade magazine partners with existing industry events. They produce a co-branded special print edition for the event, selling ads into it and sharing the revenue with the event organizer. This creates a new revenue stream without the financial risk.
