Building Community Through Marketing Partnerships

As associations and businesses in general look for ways to decrease expenses while maintaining or growing revenue and services, all options are on the table. Combining resources through marketing partnerships can be a powerful and profitable business solution to pursue.

Why Partner?

1- Synergy: We’ve all heard the idea – it was one of the great buzz words in the 80’s, but what does it really mean to you and your bottom line? Literally it means that the sum of the parts is greater than the whole, or 1 + 1 = 3. Imagine if you need to create a new program but have limited personnel resources. Then imagine another organization that has a similar mission

2- Leverage brand appeal: This is a particularly strong benefit especially if one association is larger and better known than the other. Let’s say you work in a niche market within the home construction industry. Think what an association with the National Home Builders Association, Habitat for Humanity or Home Depot would do to heighten your exposure and elevate your brand.

3- Expand a budget: Most organizations are suffering from reduced budgets, particularly when it comes to marketing activities. Often thought to be a cost to be cut, smart marketing can and should be a revenue generating activity. So, when you consider what you can accomplish with your reduced budget, think again. What if you had double that budget? Another benefit of partnership! If you each put in equivalent resources (time, labor, dollars, etc), you’re able to accomplish considerably more than would otherwise be popular.

What to Look for in a Partner?

1. Strategy: the first question must be - does this potential partnership fit with your strategy? And, what if you don’t have a strategic plan? Then take 2 steps back and get one. Why? Strategy gives you direction and clarity. With this necessary focus, you’ll make smart choices and the results will be more favorable. This is also the time to ensure that your prospects share your values. If Social Responsibility is a core value for your organization – and the trend is definitely in support of those efforts – then any partner under consideration should also embrace socially responsible strategies. Download the “BSR/Cone 2008 Corporate Responsibility in a New World Survey” Fact Sheet http://www.coneinc.com/stuff/contentmgr/files/0/3f834783347d770e69d66e51... OR at http://annranson.com/resources.html

2. Similar target market: your strategic plan will include your target market and you’ll want to always keep it in mind. Be very specific here – name him or her; know their lifestyle, spending habits and priorities. The more you know about them, the more directly you can speak to them. AND, you can identify appropriate partners that are also looking to reach this same group. The U.S. Chamber of Commerce probably has a goal to reach business owners. Entrepreneur Magazine and AFLAC do too, making them good candidates for partnership with the US Chamber.

3. Ability to deliver: this is where many great partnerships fall apart. One organization does the heavy lifting – following through on all agreed activities, while the other sits back or drops the ball. Make sure that your partners have shared values and work ethic. Additionally, confirm that they have the capability to deliver on the promises. Be specific in your agreements, and in your communications identify who is responsible for which activities and on what timeline. This advance scrutiny and planning will avoid potential disasters down the line.

How and What to Value?

1. The Give: knowing and valuing what you have to give is imperative to the success of a powerful partnership. The valuation starts by doing an exhaustive inventory of all of the resources that you have to offer – you probably have much more to offer than you realize. Then realize that whether you’re small and relatively unknown or a household brand name – your cause is important to some group of people – at the least, your target market. Research shows than when you support or partner with an important cause people pay attention.

To read various studies on this topic go to http://annranson.com/resources.html OR go directly to the goodpurpose study from Edelman - http://www.goodpurposecommunity.com/study.html
Your stakeholders are looking to see if you are part of the problem or part of the solution. Those that are on the positive side of this equation will win when others never make it to the short list.

2. Receiving: know what you are looking to get from a partner. Is it money, credibility, labor, etc? Make sure you know what rights and benefits you’ll receive from this partnership, particularly if there is media involved. And, I always believe in leveraging any media opportunities whenever possible. Be realistic, and establish metrics to measure what you expect to receive from the partnership.

3. Return on Investment: your measurement should include an analysis of the results. In the beginning, set a goal that you can track and measure. Did you receive what you expected? Was the partnership worth the resources you put into it, remembering to put a value on all of them, not just the dollar expenditures.
Overall, consider creating a marketing partnership, whether between associations, with businesses or non-profits. You will gain synergy, generate more impact and improve your brand when you create an alliance with another organization that has a similar strategy, target market and ability to deliver. Begin the research today to find those organizations that are good strategic matches for you – the benefits are there, and the timing couldn’t be better.

Ann Ranson is president of CSR–3 Marketing, which focuses on strategic planning and building high-trust relationships through marketing partnership. She is located in Dallas, Texas. Email: ann@annranson.com