E-commerce Link: Mutual Benefit, Revisited
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 email@example.com.