A recent Forrester study commissioned by Impact.com showcased the value of investing in partnerships to drive growth, with 76% of companies agreeing that partnerships are vital to delivering on their revenue goals. And over half of the surveyed companies (52%) got more than 20% of their revenue from the partnership channel.
The partnership marketing industry is built upon relationships, and the relationship with your agency is an essential piece of the puzzle. An exceptional agency partner will work with you to develop a transparent and results-driven affiliate marketing program that works with many business models, focusing on meaningful, long-term partnerships.
As we slowly emerge from the other side of the COVID-19 pandemic, marketing spend is being targeted at channels that deliver results in a low-risk, tangible way. The spotlight has been on successful partnerships that deliver revenue. The UK partnership marketing industry is in a solid position to succeed, with a recent IAB study reporting that 50% of marketers saw an increase in spending in 2020.
But a good relationship is built on more than profit margins. How can a partnership marketing agency help your business grow? And what are the key pillars that support a successful, profitable partnership between client and agency?
Engage:
Clients are looking for a true partnership from their agency. They want an extension of their team, to be part of the process, not just the outcomes. An agency that engages them in the process and creates a consultative environment to offer their opinions, experience and advice. Listening is essential here; a client wants to know not only that they're being listened to but understood, with a team that has a clear grasp of their objectives, what's important to them, and is aligned with their goals.
An exceptional agency partner will:
- Listen to, and understand a clients' objectives
- Develop a transparent and results-driven program
- Strategically align to a clients business goals
Inform:
A great agency is hired for its expertise. We make recommendations based on our experience, data, and knowledge of the partnership marketing landscape. A good agency will confidently make strategic recommendations and nurture client confidence while recognising that they don't have to have the answers all the time.
More than 170 leading brands trust Acceleration Partners to grow their partnership marketing programs. Our focus on delivering strategic, data-driven partnership marketing programs has allowed our clients to achieve over $3.8B in revenue.
Our account and publisher development teams collaborate closely to build programmes that align closely with our client's goals, using our years of expertise to find partners that are the perfect match.
Take action:
Impeccable follow-ups are the cornerstone of an excellent agency-client relationship. Follow through on discussions with tangible actions, and stick to agreed deadlines. It's easy to 'talk the talk', but it's actions that move the needle. If issues arise, communicate quickly, clearly and openly. A great agency will show the client they understand the importance of those issues, take ownership, and communicate consistently and openly to resolve them.
Ask for feedback:
Feedback is essential for agencies, clients, teams and relationships. We only improve if we know the challenges. At Acceleration Partners, we survey clients quarterly, gathering regular feedback that we take back to our teams to service them more effectively. It also helps us spot when a client might be 'checking out' of the relationship, which should raise questions within the account team.
Connect with our team to learn how Acceleration Partners can help you realize better performance through better partnerships.
