Partnership marketing is a powerful tool for companies. The collaboration between two or more companies with similar marketing needs, a common audience, or complementary products is called a partnership. This can be used by both sides to increase customer awareness, sales, or simply create extra revenue.
Partnership Marketing Today
In the context of contact centers, partnership marketing is a way for a company to improve its customer experience, share leads, and grow its business with the help of its partner company and its contact center. Currently, creating a contact center marketing partnership involves two companies who are mutually exclusive to each other (a one-to-one partnership) exchanging leads for a set price. Leads flow one way, from the lead selling company to the lead buying company. This can provide a couple of key benefits for both sides of the partnership.
1. Gain access to a larger targeted customer base while improving customer experience.
A partnership marketing program is only useful if the two companies are targeting the same audience. After all, what value is there for an enterprise to pitch one of their customers with a non-complementary offer? Without a high degree of relevancy, customers will not see value in being transferred to your marketing partner’s sales center. This has the potential of negatively impacting the customer experience. Since the customer experience is of paramount importance, enterprises should strive to only partner with other brands that offer relevant, but not directly competing products/services.
A partnership marketing program ensures that both enterprises work towards mutual benefit. This gives the company on the receiving end of leads access to a large, untapped and highly qualified customer base. As for the company that transfers the customer lead, not only is customer engagement enhanced, but they also generate an efficient and optimized revenue stream.
2. Increase brand awareness.
The real beauty of a partnership marketing program is that the company receiving customer leads can use the customer-referring company as a way to build brand awareness. A smaller company can leverage the value of that enterprise’s big-name brand to introduce their products to an attentive, interested, and engaged audience. Even if the caller isn’t interested in their offer at the time, the pitch for the partner’s product creates brand awareness for the future.
SalesPortal: Partnership Marketing “On Steroids”
A marketing partnership provides great benefit to each company but only to a certain extent. A one-to-one marketing partnership is expensive and lengthy to create and offers little to no flexibility for either party; flexibility to test out partnership arrangements with multiple companies to find the perfect mix of relevancy and monetization.
SalesPortal’s cloud based-technology addresses this issue by building partnership marketing NETWORKS for enterprises. The patented solution uses an enhanced partner discovery, bidding, and mutual approval system to enable companies to connect with multiple brands and enterprises for the purposes of co-marketing and sharing of live phone leads.
1. Reduce customer acquisition costs.
In traditional pay per call lead generation programs, the cost per lead is determined by the lead generator, or the lead aggregator. Since the lead generators are responsible for the bulk of the marketing and advertising costs that went into acquiring the lead, the price per lead is often very high. Although this relationship may be a good source of well-qualified leads for the advertiser, its fixed cost system can become prohibitive for several enterprises.
Contrarily, SalesPortal’s partnership marketing network allows advertisers to set their own cost per lead and fine-tune this price to fit their target metrics, such as cost per order. With SalesPortal’s Cross-Pitching system, multiple companies can bid for call transfers from other companies that have similar demographic targets and/or complementary products. Essentially advertisers are bidding for the cross-sell component of the call – i.e. the end-of-call “real estate” where the original agent handling the customer call has the opportunity to recommend other relevant products to the caller after the main transaction is satisfactorily completed. In this way, SalesPortal gives advertisers access to a whole new customer base and provides them the flexibility of controlling the price parameters of their lead generation program – without the onerous process of arranging one-to-one agreements with their desired marketing partners.
2. Combine the benefits of online advertising and offline media
The major appeal for offline media (television, radio, print, direct mail, etc.) is that it generates highly-coveted phone leads that deliver very high sales conversion rates; calls usually convert at 10 times higher rate than clicks. The downside of offline advertising is that most of it is NOT performance based – advertisers pay on a CPM basis. This is where online advertising shines and most online channels, especially search, are performance based, for example, cost-per-click. However, given the abysmal conversion rates for clicks as compared to calls puts advertisers constantly in the position of choosing between high conversions (i.e. phone leads) and performance-based marketing (i.e. online traffic). SalesPortal has solved this dilemma by offering advertisers BOTH: high-converting and qualified phone leads on a pay per call basis. So, by leveraging SalesPortal’s technology, advertisers finally have the best of both worlds!