These are the facts, in 2022 US digital ad spend is projected to increase by 14% to 240 billion. Here’s why:
Since 2012, the partnership channel has evolved. A channel that was once encompassed of one-size-fits-all programs has grown to become a true table sake in the digital marketing mix. Modern-day partnerships include mediums such as digital, print, podcasts, radio, social channels, and much more. These transformational partnerships enable marketers to reach loyal, engaged audiences with a cross-promotional message.
Transformational partnerships provide marketers with the necessary diversification to effectively expand their reach. And, when diverse partnerships are paired with sophisticated technology, marketers achieve omnipresence across consumers’ path to purchase while driving profitable growth.
While many marketers are aware of the value traditional partnerships bring to their business, transformational partnerships power growth opportunities with distinctive benefits. Case in point, let’s take a look at Adidas.
Adidas leveraged Partnerize software to optimize an existing sponsorship with FC Bayern Munich to acquire new customers. During Bayern Munich games, Adidas placed unique coupons on each seat with a one-time use code for all Adidas online merchandise. Code redemptions were tracked by Partnerize’s Exclusive Code technology, tying the transaction back to the sponsored relationship.
Executing brand-to-brand collaborations in the partnership channel enables brands like Adidas and FC Bayern Munich to reach like-minded consumers and create an experience for customers that taps into loyalty and ultimately builds stronger lifetime value of acquired customers.
For brands to see growth in the partnership channel, it’s imperative that marketers cultivate unique collaborations based on the brand partners they choose to work with. They should set goals that consider overall objectives and key performance indicators that will aid in understanding the benefits and successes of their partnerships.
Download A Transformative Opportunity: How Brand-to-Brand Partnerships Accelerate Growth for more insights on partnership growth.