Innovate UK's Essential Startup & SME Business Tips for Partnership Marketing

This is Innovate UK’s essential advice and tips for partnership marketing. Whether you're a start-up, a small business or SME, there may be important information that you haven't considered. Watch the video and make sure you subscribe to our YouTube channel for more start-up and SME advice.

The video outlines and explains the most important factors for a business when marketing through partnerships.

The tips are as follows:

1) Target established businesses with access to your potential customers

Partnership marketing is the process of finding and working with strategic partners who already have access to your target audience. Usually this involves brands, products or services that are not competing with your business, but have a complementary nature.

2) Research your target market

The best collaborations aren’t always the most obvious ones, so don’t hesitate to expand your thinking. Research the content, products and services that your target audiences consume. Sometimes buying choices and brand associations are surprising.

3) Start with simple initiatives to kickstart your partnerships

Social media is a great way to put a toe in the water when it comes to collaboration. If the other brand is in agreement, you could create a Facebook or Twitter campaign to assess interest, or collaborate on a series of blogs that you jointly promote. Once you have established a good relationship, you can move onto more ambitious joint marketing campaigns.

4) Use data and insights to maximise benefits

Never underestimate the power of data. The more you know about your brand’s performance, reach, reputation and audiences, the more successful your future marketing will be. The right collaborations will gain you valuable insights into all these areas that you can feed into your development pipeline and use to hone your marketing strategy.

Find out more about partnership marketing by checking out our blog post: https://innovateuk.blog.gov.uk/2017/0...

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