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Strategic
Alliances
A Strategic Alliance
is one of the most attractive promotional vehicles for maximizing exposure,
selling more product and increasing brand awareness.
Partnering with another company, or brand, as a method for accomplishing
one’s objectives is a proven and accepted business practice.
Frequently, by joining together already planned tactics under a united
creative hook, each partner can increase its presence in the marketplace,
without increasing its budget.
At Big Rocks A
Marketing Cooperative, partnerships are usually recommended as part of an
integrated promotional campaign designed to build the client’s business with
or without the partner. When a
partnership is considered, it is done so for one or more of the following
reasons:
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Off-set
costs
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Sweeps/game
prizes
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Added
value offers |
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Shared
media cost |
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Enhance
a program
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Incremental
exposure |
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Drive
sales through a partner's alternate distribution channel |
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Capitalize
on borrowed equity |
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Provide
leverage needed to drive display at retail |
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Criteria
for a sound alliance include
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Complimentary
brands (e.g., products that work well together, naturally; like bread
and butter or a hammer and nails)
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Products
or services that target a shared (or similar) audience (i.e.,
demographics, psychographics, lifestyle, life stage) |
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Good
fit with program theme (sometimes a partner rounds out a promotional
concept or simply slides right into a thematic) |
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Every
partner benefits from the alliance |
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Methodology
for securing partners
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Establish
client's overall marketing objectives and the corresponding role of
partnerships
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Clearly
identify the client's assets |
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Develop
program one-sheet to provide potential partners with program details |
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Create
a solicitation list for client to approve prior to contacting
prospective partners |
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Telephone,
e-mail, fax solicitation of targeted partners |
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Relentless
follow-up and communication |
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Negotiate
a deal (inclusive of Letter Agreement and long-form contract) |
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Execute
flawlessly (ensure terms of agreement are met) |
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Evaluate
program success based on pre-determined criteria
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