E-commerce Link: Mutual Benefit, Revisited
Getting a cooperative marketing partnership started
September 2006 By Peter Figueredo
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* an indemnification for use of ad units and ad copy;
* verification that the advertiser has permission to contact its business partner’s customer base; and
* Can Spam and do-not-call list compliance requirements.
Deal terms also can be plugged into the contract, for further support of the business agreement.
Step #4: Locate the appropriate contact.
Now that you have your target list of potential partners, you will need to get your proposal in front of the most receptive person. Since we are talking about online partnerships, the appropriate contact usually will be in the marketing or business development departments. Stay away from ad sales people because they usually are not receptive to these nonpaid deals, since there is no commission for them. To find the appropriate contact, search the company’s Web site. The easiest way to do this is to use a business networking software such as LinkedIn.com. Once a deal is made, this contact often is the point person with whom you will regularly communicate to measure performance on both sides of the deal.
Step #5: Make the deal.
Present your idea in the most succinct format possible. Many of these deals are structured in a very loose format in which inventory is estimated rather than set in stone. Don’t be surprised if your potential partner has never considered what you are proposing, because many have not. While these types of deals are commonplace in the offline world, they are still relatively rare in the online arena.
While negotiating terms of the deal, you may find yourself placing arbitrary values on different types of customer exposure opportunities. For example, you may value package insert placements more than e-mails, while your partner may feel differently. Making the deal is where creativity really comes into play.
Start small by suggesting you mention each other in a customer communication. This can be part of a regular communication or a stand-alone e-mail. Placing an offer on the confirmation page also can be a good starting point, since most companies know they already have the order captured and, consequently, aren’t as concerned with losing a sale.
Step #6: Track program results.
Finally, make sure you each have a clear understanding of the other party’s success metrics. Then, request regular updates from your partner that allow you to monitor performance from your partner’s perspective as well as your own. If performance on either side is lagging, you may need to take steps to improve results—such as changing a creative ad unit, optimizing an offer or moving a link to another page—or you could lose the partner.
Flexibility is key to most cooperative marketing partnerships. These deals are new territory for most marketers, so you’ll likely hit a few bumps in the road. But, if proven successful, they can be a good ride.
Peter Figueredo is co-founder and CEO of NYC-based NETexponent, an online direct response agency. He can be reached by e-mail at peter@netexponent.com.
* verification that the advertiser has permission to contact its business partner’s customer base; and
* Can Spam and do-not-call list compliance requirements.
Deal terms also can be plugged into the contract, for further support of the business agreement.
Step #4: Locate the appropriate contact.
Now that you have your target list of potential partners, you will need to get your proposal in front of the most receptive person. Since we are talking about online partnerships, the appropriate contact usually will be in the marketing or business development departments. Stay away from ad sales people because they usually are not receptive to these nonpaid deals, since there is no commission for them. To find the appropriate contact, search the company’s Web site. The easiest way to do this is to use a business networking software such as LinkedIn.com. Once a deal is made, this contact often is the point person with whom you will regularly communicate to measure performance on both sides of the deal.
Step #5: Make the deal.
Present your idea in the most succinct format possible. Many of these deals are structured in a very loose format in which inventory is estimated rather than set in stone. Don’t be surprised if your potential partner has never considered what you are proposing, because many have not. While these types of deals are commonplace in the offline world, they are still relatively rare in the online arena.
While negotiating terms of the deal, you may find yourself placing arbitrary values on different types of customer exposure opportunities. For example, you may value package insert placements more than e-mails, while your partner may feel differently. Making the deal is where creativity really comes into play.
Start small by suggesting you mention each other in a customer communication. This can be part of a regular communication or a stand-alone e-mail. Placing an offer on the confirmation page also can be a good starting point, since most companies know they already have the order captured and, consequently, aren’t as concerned with losing a sale.
Step #6: Track program results.
Finally, make sure you each have a clear understanding of the other party’s success metrics. Then, request regular updates from your partner that allow you to monitor performance from your partner’s perspective as well as your own. If performance on either side is lagging, you may need to take steps to improve results—such as changing a creative ad unit, optimizing an offer or moving a link to another page—or you could lose the partner.
Flexibility is key to most cooperative marketing partnerships. These deals are new territory for most marketers, so you’ll likely hit a few bumps in the road. But, if proven successful, they can be a good ride.
Peter Figueredo is co-founder and CEO of NYC-based NETexponent, an online direct response agency. He can be reached by e-mail at peter@netexponent.com.
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