Partnership channels drive growth. In fact, Forrester research shows that companies with mature partnerships programs, defined by people, process and technology, can drive up to 28% of their overall revenue through partnerships. But how do you enable that growth from an organizational perspective?
Businesses today may have their PR group managing influencer partnerships, their business development team managing strategic B2B relationships and their marketing teams managing affiliate marketing. However, there are efficiencies gained in creating a structured and strategic business unit, perhaps even separate from sales or marketing, uniting multiple partnership-driving groups through a united platform.
Ticketmaster licenses Impact’s software for a B2B software integration partnership with Spotify. A person listening to music on Spotify can also see when that artist is on tour and seamlessly tap through to purchase a ticket. In this case, Spotify would potentially earn a commission on that ticket sale, say 10% or so. This allows a great user experience, additional revenue opportunities for Spotify and a smart, target campaign to drive more sales for Ticketmaster.
So, how can partnerships help businesses drive brand awareness, increase revenue and create meaningful customer experiences? What people, processes and technology is required? What types of partners should you look for and how should you measure success?
Join Impact and a select group of industry experts to discuss digital transformation for brand awareness and your customer acquisition strategy, by adopting partnerships as a channel to grow your business in 2021.