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PARTNERSHIPMARKETINGMay2014MediatorPresentsaWhitePaperon www.mediator.co.uk2Thisreportwascommissionedtoexaminethecurrentmarketinglandscapeandtherolepartnershipmarketingplayswithinthewidermarketingmixwhilsthighlightingbestpracticeforthediscipline.Over80ofrespondentsbelievepartnershipmarketinghasahighROIand86agreeitseectivehoweverlessthan5ofoverallmarketingbudgetsareallocatedtothisarea.Thisreportinvestigatesthereasonsforthisdisconnectalongsidethebenetsofusingpartnershipmarketinginthecontextofanindustrywhereconsumersandtechnologyareconstantlyevolving.Thereiswidespreadbeliefpartnershipmarketingisunderutilisedasatoolduetoamisconceptionitcannotbeeectivelymeasured.Researchdemonstratesaslongasthereisaclearunderstandingofwhatsuccesslookslikeintheinitialplanningstagestherightevaluationmetricscanbebuiltintothecampaigntoensureitismeasurableandinturntheresnoreasonwhyitshouldntfeatureasaconsistentcomponentofthewidermarketingmix.Thisreportconcludedmarketingstrategiesthatincorporatepartnershipswithinthewidermarketingmixweremorepowerfulthanthosethatdidntandover70ofrespondentsagreepartnershipsaddedalevelofdepththatmoretraditionalcommunicationplanscouldnotdeliver. www.mediator.co.uk3CONTENTEvolutionofpartnershipmarketingBenetsofpartnershipmarketingMeasuringROIThefutureofpartnershipmarketingBestpracticeinpartnershipsConclusionAppendix4-910-1920-2122-2324-2930-3334 www.mediator.co.uk4EVOLUTIONOFPARTNERSHIPMARKETING 5Partnershipmarketingisallaboutbrandsworkingtogethertoreachnewaudiencesthroughmutuallybenecialcampaigns.Marketingprofessionalsagreethatthereisarealshiftwithintheindustrytowardsamoreconnectedalignedandstrategicuseofpartnershipmarketingasatoolinthemarketersblackbox.RespondentssuggestthegrowthofpartnershipmarketingaspartofamoreintegratedmarketingstrategyisduetoanumberofchangesinthebusinessenvironmentthecurrenteconomicclimatetheneweconomicrealitywhereitisimportanttomakemarketingbudgetsgofurtherbyworkingsmartertheneedtomeasureROItechnologicaldevelopmentsindigitalandsocialmediaandultimatelychangesinthewayconsumersinteractandbehave. www.mediator.co.uk6Consumerbehaviourhasdevelopedsignicantlyinrecentyearstherearemoreaccesspointsmultipleconsumptionformatsandincreasedcross-formatusewithmanymoreanddierentwaysinwhichconsumerscaninteractwithbrands.Marketersbelievepartnershipmarketingisanexcellentwayofaccessingconsumersinawaythattsinwiththeirlifestyleandbehaviours.Peopleliveinarealtimenowenvironmentwithinstantreactionsallowingthemtogetclosertobrandsinanimmediatewayandatatimetosuitthem.EVOLVINGCONSUMERS 7Somefeelthatthereisnowgreaterawarenessofpartnershipmarketingandasaresultunderstandingandperceptionshavegrown.Thereisagrowingawarenessofthedierencebetweenpartnershipmarketingandothermarketingtechniquesandthatitcanhaveitsownplaceandvaluewithinthewidermarketingmix.Thisincreasedvisibilityisdrivingtheuseofpartnershipmarketingandwithmorecasestudiesthevalueofpartnershipsisbeingrecognisedincreasingitsuseasastrategictool.Partnershipmarketingisnowmuchmoreabouttruecollaborationwithpartnersworkingtoachievethesamegoalsofextendedreachmaximisingbudgetsanddrivingacquisitionratherthaneachindividualorganisationworkinginisolation.Respondentsonthewholeagreetheindustryisgettingsmarterduetotheneedtodosomethingdierentpartnershipmarketingisawayofcreatingsomethinginnovativeandpowerfulecientlyandcosteectivelyallowingbudgetstogofurther.Traditionalsponsorshipswerefarmoreonesided.NowitsaboutallsidesofthepartnershipcomingtogetheranddiscussingforthegreatergoodthebeneftsthateachotherbringstoitwhichIjustdontthinkhappenedtoasensibledegreebefore.HeadofExperientialMarketingandPartnershipsFinanceIthinkhistoricallytherehasntbeenthatconnectiontothebroadermarketingstrategywithinthebusiness.HeadofExperientialMarketingandPartnershipsFinanceEVOLVINGINDUSTRY www.mediator.co.uk8Undoubtedlytechnologyhasallowedpartnershipmarketingtoevolvethereisunanimousagreementamongstrespondentsthatdigitalmediaisdramaticallychangingthewaymarketersusepartnershipmarketingcreatingnewopportunitiestoreachthetargetaudiencecreatingnewandbetterconnectionswithconsumerstoattractandengagenewandexistingcustomersandoeringadirectmeanstopotentiallyextendrange.EVOLVINGTECHNOLOGYTheuseofsmartphonestheuseoftabletsallthesethingsmeanthatpeoplearealwaysconnectedandtheyhaveaveryhighexpectationofwhattheyregoingtobeabletoaccessandwhenandwheretheyllbeabletodoit.Newtechnologiesandmobilearealsomentionedandrecognisedasplatformsviawhichapartnershipmarketingstrategycanstandoutandcutthrough.Partnershipmarketinglendsitselftocommunicatingwithcustomersacrosstheirlivesandthereforeovermultipletouchpointsmatchingthewayconsumersnowinteractwiththeirworld.NewtechnologyalsoallowsforbettermeanstomeasureROIandtrackaccountability.HeadofIn-LifeManagementTelecommunications 9FormepartnershipmarketingisforgingstrategicrelationshipswithpartnerswherewebelievewewillhaveagoodbrandftandImeanaftthatwillactuallyhaveaproductorservicethatwillmeettheneedsofourcorecustomers.Itsnotaboutwewantthiswellpayyouforthatitsaboutworkingintruecollaborationtocomeupwithasolutionthatmeetsourneedsandthoseofourcustomers.SOWHATISPARTNERSHIPMARKETINGTODAYWhenaskedtogiveadenitionofpartnershipmarketingthevastmajorityofrespondentstalkabouttwobrandsworkingtogetherinpartnershiporcollaborationapartnershipthatismutuallybenecialthatextendsreachtonewaudiencesandcustomersimprovesbrandawarenessandusesthestrengthsandassetsofeachcompanytobenetbothpartners.Morebroadlyrespondentstalkaboutstrategicpartnershipsbeingdeeplyembodiedandintegratedwithinabrandswiderstrategywith90agreeingtheywouldassociatestrategywithpartnershipmarketing.Therealsoseemstobeaconsensusthatlongtermstrategicpartnershipsarethefutureofmarketingandhavethepotentialforgoodreturnsmoreshorttermtacticalcampaignsdesignedtoprovidehighimpactandachieveashorttermgoalarealsoacknowledgedbyrespondentsasbeingimportantbutthatlongtermpartnershipsarekeyandprovidebetterreturns.Partnershipmarketingisbasicallybrandscollaboratingtogethertogetagreaterout-putthantheindividualusingtheirrelativequalitiesandstrengthstomutuallybeneftfromeachother.HeadofIn-LifeManagementTelecommunicationsHeadofStrategyMediaAgencyJamesBondxAstonMartin BeatsElectronicsInternationalLtdwww.mediator.co.uk10BENEFITSOFPARTNERSHIPMARKETINGBeatsByDreXLadyGaga 11EXPANDINGREACHAlargeproportionofrespondents66spontaneouslyagreethatpartnershipmarketingisaneectivewayofgrowingawarenessandreachingnewaudiencestotargetnewcustomerstodevelopandfosterbrandequityenhancebrandpropositionschallengeperceptionsortoventureintoanewmarket.Whenprompted88agreethatpartnershipmarketingprovidesexposureacrossbothbrandschannelsand83agreeitcanexpandthebrandaudiencewhenaskedtoselectasinglemostmotivatingfactorforusingpartnershipmarketing24selectedthisoptionaboveallothers.Partnershipmarketingisawayofexpandingourreachoutsideofthechannelitselfandworkingwithbrandsthatweusuallywouldntgetachanceto.AhugelyeectiveexampleofthiscanbeseenwithBeatsbyDrewhichhassuccessfullypartneredwiththemostprominentguresinentertainmenttomakethebrandaninternationalhouseholdnameinlessthantenyears.SeniorMarketingManagerTVIthinkthatstheotherthingpartnershipscandotheycanmakepeoplereassesshowtheythinkofyouandintroduceyoutoawholenewgroupofpeople.MarketingDirectorNewsPublisherBeatsByDrexRedSox Partnershipmarketingisseenasacosteectivemarketingtoolwhichisparticularlypertinentwhenmarketingbudgetsarebeingsqueezed32ofrespondentstotheonlinesurveyspontaneouslyfeltthiswasastrongmotivationtousepartnershipmarketing.Whenprompted70ofonlinerespondentsagreedthatpartnershipmarketingisacosteectivewaytoexpandbrandcapabilitiesabrandcanutiliseapartnerscapabilitiesandnotincuradevelopmentcost.Whenaskedtoselectasinglemostmotivatingfactorforusingpartnershipmarketing20selectedthisoption.www.mediator.co.uk12EFFECTIVEUSEOFBUDGETSItsnotnecessarilythatwereincreasingbudgetseveryyearintopartnershipsbutitsaveryimportantpartofourmarketingstrategyandifthereareideasthatwethinkareworthpursuingthenwellalwayslookatmovingbudgetsaround.Itsanimportantpartofthebrandmarketingmix.SeniorMarketingManagerTVItsalwaysgoingtobefghtingtheageoldbudgetchallengesparticularlywhenpeopleareusedtothebeneftofmorestraight-forwardadvertising.SoIthinkitwillalwayscomeunderpressureespeciallywhentimesaretough.HeadofExperientialMarketingPartnershipsFinancePartnershipsFinance 13Partnershipsareabletoprovideaneectiveandecientuseofcompaniesbudgetsbyenablingthemtosubstitutepurchasingassetswithleveragedbrandequityinmutuallybenecialpartnershipswhichrequireminimalnancialinvestmentfrombothparties.While63ofonlinerespondentsstatethatcurrentlylessthan0to10oftheirmarketingbudgetisassignedtopartnershipmarketinginterestingly45claimthishasincreasedinthelastthreeyears.Intermsofexpandingpartnershipbudgetsinsomecasesentirebranchesofcompaniesarechangingtoembracepartnershipsoveroldmarketingmethodssuchasreplacingsponsorshipdepartmentswithpartnerships.InordertojustifybudgetsandchallengetraditionalperceptionspartnershipsneedtoensuretheyhavesystemsinplacetomeasureROIthisisclaimedtobeaconcernconsiderationforaroundthreequartersofonlinerespondents.TatexTheTimes www.mediator.co.uk14EFFECTIVEATREACHINGANDTOUCHINGTHECONSUMEROneofthemosteectiveaspectsofpartnershipmarketingisfelttobetheabilitytotapintopeoplespassionsmakinganemotiveconnectiontothemodernconsumerusingarelevantengagingandultimatelyeectivestrategy.Thisthemeisrepeatedacrossthestudyanditwasagreedthatthecustomerexperiencescreatedviapartnershipmarketingstrategiesaremorepowerfulbecauseofthelevelofengagementandintegrationwithinconsumerslives.Whenprompted71agreedthatpartnershipmarketingoersdepthofcommunication.Nota30secondadvertbutaconsideredprojecttailoredtomeaningfullyengagethetwobrandstargetaudiences.Somesuggestbrandsthatarealreadyintegraltosomeoneslifeorpersonalitylikefashionorentertainmentbrandslendthemselvesverywelltopartnershipmarketing.ForexampleBarclaycardworkinpartnershipwithHydeParkFestivalsoeringfestival-goerscontactlesspaymentwristbands.Thisenablesconsumerstoengagewiththebrandatalevelthataddsvaluetotheiroverallfestivalexperiencedrivingrealengagementandexposuretothebrand.Thereisalsoastrongfeelingthatpartnershipmarketingismuchbetteratslottingintoanindividualslifeandreachingconsumersovermultipletouchpointsandacrossplatforms.Thevastmajorityagreepartnershipmarketingcreatesanexciting82andcreative90brandexperience.Inturnthisexperienceenhancesthepartner-shipandmakesitsomuchmorebelievablerealandpersonaltotheconsumerpeoplecanbecynicalandpartnershipmarketingenablesthecampaigntofeeltangibleauthenticandgenuine.Finallypartnershipmarketingcanalsobeveryeectiveatdrivingbrandvaluesbycreatingthisexperienceforthecustomer.Bycreatingthatrelationshipwiththecustomerthereisadeeperbrandengagementandpotentiallylongtermgains.Itscreatingthatbondthatkeepsourcustomersinterestedfreshandultimatelyconvertsthemintoambassadorsforyourbrand.HeadofExperientialMarketingandPartnershipsFinance 15Youreactuallyembeddingyourselfintosomethingthatpeoplearepassionateabout.Bycreatingexperiencesratherthanjustshowingpeopleabrandonthetelevisionyourecreatingsomethingthatpeoplewilltakeawayandremember.HeadofExperientialMarketingandPartnershipsFinanceIthinkthemainreasonbrandsturntopartnershipmarketingisadesiretomaketheirbrandmoremeaningfultotheconsumersthattheyretryingtoreach.Itsawayofaddingalayerofdierentiationinaclutteredmarketplacecreatingarealassociationwithvaluesmakingthebrandstandup.Italsogivesthebrandlicencetotalktothataudienceyouvegottohavesomekindofhookthatwillmakeaconsumerwanttoengagewithyousobypartneringwithsomethingyoucreatealicenceforaconversation.SeniorMarketingManagerMedia www.mediator.co.uk16COLLABORATIONRespondentsmentionthatthecollaborationbetweenpartnersmeansthatabrandcanachievesomethingmorepowerfulthanwouldbepossibleontheirownthepartnershipcreatessomethingthatisbiggerandstrongerthantheindividualparts.83ofonlinerespondentsagreethatpartnershipmarketingprovidestheabilitytoachievesomethingyourbrandcouldntdoonitsownwhenaskedtoselectasinglemostmotivatingfactorforusingpartnershipmarketing22selectedthisoption.TakeNikeforexamplewhoteamedupwithAppletocreatetheFuelBandaninnovativeproductwhichsuccessfullyfusedthetwocompaniesexpertiseintechnologyandsporttocreateaninnovativeandmarketleadingpieceofwearabletechnology.Also16ofonlinerespondentsspontane-ouslystatethatcollaborationisthewordthatdescribesasuccessfulpartnershipfollowedbycreativeandinnovative12.78ofonlinerespondentsfeelthatacol-laborativeapproachmakesforasuccessfulpartnership.AnexamplethatwasgivenwasthecollaborationbetweenStellaMcCartneyandAdidasapartnershipthatproducedauniqueproductfromcollaborationbetweentwocreativephilosophies.Partnershipsforusaredefnitelyallaboutcollabora-tion.Itsaboutfndingotherbrandsthatftorenhanceourbrandexperienceandthenworkingtogethertobringtolifebettercampaignsandcontent.SoweobviouslydoalottopromoteourcontentforBrandAthroughotherpartnersbeitmediapartnersproductpartnersortechnologypartners.NikeInc.PartnershipandEventControllerMediaNikeFuelBand 17CONTENTCREATIONAnotherkeybenetofpartnershipsisfelttobethecreationofcontentfromhavingtwobrandsworkingtogetheranewconceptcanbebroughtaboutbyaligningthevaluesofthetwobrandswhichisexcitingandengagingfortheconsumer.Thegainsthatcanbemadebyworkingwithanotherbrandareidentiedassignicant68ofonlinerespondentsagreedthatpartnershipmarketingcreatesengagingandmorecreativecontent.Assomebrandsarenotnecessarilyexpertsintheareaofcontentcreationpartnershipmarketingisveryimportantandrelevantinthisareaitcanbeusedasaplatformtobothcreateandthenpromotecontent.Ideallyyoucreateco-brandedcontentandthatreallyreallyworksifitsexecutedintherightway.Itcanbecomeviralandyoucanseeditoutevenfurtheranditcanspread.SoIthinksomethingthathasallofthosedierentelementstogethermakesforareallygoodpartnership.MarketingDirectorFashionTateBritainxPalaceSkateboards 2014adidasInternationalTradingB.Vwww.mediator.co.uk18SUITABLEFORALLSECTORSMostrespondentsfeelthereisverybroadscopeforpartnershipmarketingtherebeingnolimittothesectorsforwhichpartnershipmarketingcanwork.Thereisafeelingthataslongasitisrelevanttothecustomertheactivityhastheabilitytowork.Howeverpartnershipmarketingcanhaveanaturalappealandtwithcertainkeyareassuchasfashionentertainmentmediaandmobile.Partnershipsworkforallcategories.WeworkacrosseverythingfromFMCGandretailtofashionmotoringgovernmentandenergy.Ithasareallybroadscopewehavecasestudiesfornumerouscategories.HeadofGlobalPartnershipsandDigitalInnovationAgency2014DavidBeckhamxHM 19ADDEDVALUEFORCUSTOMERSRespondentsalsoagreethatpartnershipmarketingcanbeagreatwayofenhancingthebrandorproductoferingtomakethebrandmoreenticingandattractivetocustomersaddingvalueandpotentiallyincreasingbrandloyalty.71ofonlinerespondentsagreedthatpartnershipmarketingrewardscustomerswithrelevantaddedvalueandenhancestheirexperienceand58agreethatthisisamoretargetedapproachrewardingcustomerswiththethingstheywant.Inaddition50agreethatpartnershipmarketingincreasesloyaltyanddiferenti-atesyourproductfromcompetitors.Withbrandssuchasbeautybrandsflmbrandsandgenerallifestylebrandsitmakesalotofsenseforustodoco-brandedpiecesofactivitytogetherbecauseitaddsvaluetoourcustomerweregivingheraddedvalueandaddedinsight.MarketingDirectorFashionBarclaysxPremierLeagueAP ASOS.comLtdwww.mediator.co.ukUnderstandingPartnershipMarketing20MEASURINGROITHECHALLENGEFORPARTNERSHIPSUniversalMusicAzealiaBanksXASOS 21Thevastmajorityofrespondents80believepartnershipmarketinghasahighROIand86agreeitiseectivebutwithincreasingpressuresonbudgetsthekeyistomeasureandprovethisROI.Historicallyeortsweremadetomeasurepartnershipmarketinginthesamewayastraditionaladvertisingwhileaudienceandlisteningguresproveexposuretoadvertisingthisdoesnotnecessarilyconverttoincreasesinsales.Oneofthereasonsbrandsusepartnershipmarketingistodriveperceptionsofthebrandwhichcanbehardertomeasure.Iftheaimofpartnershipmarketingistocreatearelationshipwiththeconsumerwiththeobjectiveofgrowingthecustomerbaseinthelongtermthismustbeconsideredwhenmeasuringsuccess.PartnershipmarketingisadiversepracticewithvariousapplicationsandthereforevariousdierentmethodsformeasuringROI.Successcaneasilybemeasuredeectivelyaslongasthecorrectmetricsareinplaceatthebeginningofthepartnershipandthoseintheindustryareeducatedtounder-standthedierencesinthemeasurementofpartnershipmarketingcomparedtotraditionaladvertising.AswithanymarketingactivityestablishingclearKPIsatthestartofthepartnershipisvitaltoprovingthesuccessofthepartnershipandthisneedstobedeterminedininitialconversations.IntermsofmeasuringtheROIonceKPIsareclearlydenedrespondentssuggestdierentmethodsareusedsuchasresearchbrandtrackingtotrackshiftsinperceptionsormakingdirectmeasurementsusingdigitalorsalesdata.Itisvitalthatmeasurementsareappropriatetotheaimsandobjectivesoftheparticularactivitythatisbeingused.Itisalsosuggestedbyrespondentsthatdigitalisausefultooltomakepartnershipmarketingaccountablewiththeabilitytodirectlymeasuresuccess.WithdigitalnowenablingincreasedtrackingandmeasurabilityofcampaignsandwithpartnershipsworkingespeciallywellinthedigitalworldincreasedtrackingandanalysisofdigitalcampaignsisprovingfarmoresophisticatedthanmeasuringTV.Ithinkbusinessesdefnitelywanttoknowwhatthereturnoninvestmentissothereneedstobeaninfrastructuretobeabletoreportonthatwhetherthatbebrandanitymeasuresorpeoplephysicallytakinguparewardoroptingintosomething.PartnershipandEventControllerMediaHistoricallypeoplewouldalwayscomparesponsorshipandpartnershipmarketingwithadvertising.Andadvertisinghadthehugebeneftoflotsofbignumbersthatcouldbepulledtogetherveryquicklyandeasily.Itwouldlookverybigandeveryonewouldbeveryhappy.Andthentheproblemyouhaveisthatwetriedtomeasuresponsorshipinasimilarwaytryingtocreateamediavaluefromthereachandcoverageyoureceived.HeadofExperientialMarketingandPartnershipsFinance AdidasGroupwww.mediator.co.ukUnderstandingPartnershipMarketing22THEFUTUREOFPARTNERSHIPMARKETINGAdidasXStellaMcCartney 23Partnershipsarefelttohavesuchgreatpotentialthatthepossibilitiesareendlessrespondentsbelievepartnershipmarketingisgoingtobeanincreasinglyimportantmarketingtoolandincreasinglykeytobrandstrategiesinthefutureaslongasthereisbuyinandcommitmentfromthewiderbusiness.Howeverrespondentsagreethatitstillneedstobeonepartofthemarketingmixandtappropriatelyintotheoverallstrategytoworkeectively.Whilepartnershipmarketingmaynotcurrentlybeusedasatoolasmuchasitcouldbeitstillneedstobeusedintherightcontextaswithallmarketingtechniques.Partnershipsshouldalsobeusedstrategicallytomaximisethelongtermbenets.Assuchtechnologywillhaveakeyparttoplayindevelopingmarketingpartnershipsallowingcreativedynamicandinteractiverelationshipstodevelopwithconsumers.Itsabouthowweweaveitintotheoverallmixofthetoolswehaveinourlittletoolbox.HeadofIn-LifeManagementTelecommunicationsWeallknowthatstrategicpartnershipsthatdothingsinamuchdeeperwayarethefutureofwhatweneedtodo.MarketingDirectorNewsPublisherIfyouappreciateandworkwellwiththeotherbrandandtakeonboardtheirobjectivesasmuchasyourownthenitsgoingtoworkforyouitslikeanykindofrelationshipitsgottohavegiveandtake.AndIwouldntsuggestanythinglessthanayearforagoodpartnershiptoreallyworkefectivelyandthenbeproperlyevaluated.Youhavetoinvesttimeinit.MarketingDirectorFashion 2014adidasInternationalTradingB.V.RedBullwww.mediator.co.ukUnderstandingPartnershipMarketing24BESTPRACTICEINPARTNERSHIPSFlyingLotusXRedBull 25ENSUREGOODBRANDFITRespondentshadveryclearideasabouthowtoensureasuccessfulpartnership.Brandsthatalignwellintheeyesofthecustomermakeparticularlyeectivepartnerships70agreedthiswaskeytoasuccessfulpartnership.Intermsofbrandingthosecompanieswithastrongsynergyareseenasperformingbestapartnershipwherethereisagoodtintermsofcustomerproleshouldperformwell.70ofonlinerespondentsfeelthatarelevantsynergybetweenbothbrandsthatsharesimilarorthesamevaluesmakesforasuccessfulpartnershipthisisalsoseenasthemostimportantelementofasuccessfulpartnershipmarketingstrategymentionedby25ofrespondents.Itwasalsomentionedthatgreatpartnershipsaremadewheneachpartycanoerdierentelementse.g.reachversuscredibility.HeadofBrandRadioInaworldwherecontentiskingpartnershipsareanobviouswayofgeneratingcontentforbrands.ButifcontentiskingthencontextisqueenandIguesswithpartnershipsyoumustntforgetthecontextaswell.HeadofBrandRadioIthinkitsalwaysthebrandsynergythatiskeytothisthecorebeneftisthebrandassociationbecausebothpartnersareequallyseeingasuccessinthatworkingrelationship.HMVersaceXHM www.mediator.co.uk26KEEPYOURCUSTOMERATTHEHEARTOFWHATYOUDOItwasagreedthatitiskeytokeeptheconsumerattheheartofeverythingyoudothisshouldbetheoverallobjectiveorethosofthecampaign.Keepinginmindwhytheconsumerisengagingintherstplaceandunderstandingwhatmakesthemticktocreatesomethingthatisreallyexcitinginnovativeandeectivelyachievesyourgoals.Thiswasseenbymanyaspivotaltoasuccessfulpartnershipunderstandingyourowncustomerinsightswhatmakesyourcustomertickandtappingintothat.Itsabsolutelygottotapintounderstandingwhattherecipientisinterestedinandwhatmakeshimorherticksoyouvegottohaveanunderstandingofthatparticularcustomergroupandhowtomakeitrelevant.MarketingDirectorFashion 27MAINTAINGOODCOMMUNICATIONTheideaofreleasingcontroltosomeoneelseinapartnershipcanseempotentiallyrisky.Howeverwithproperresearchandplanningandbymaintainingregulardialogueitwasagreedthattherewardsoutweighanynegatives.Theimportanceofbeingexibleandretainingregularcommunicationwashighlighted.Ifsome-thingdoesnotgoasintendeditmaybenecessarytopauseandre-evaluatetherehastobeaconversationandithastobeabletoevolve.70ofonlinerespondentsfeelthatcommunicationbetweenpartnersthroughoutthepartnershipmakesforasuccessfulpartnership.IfyoucanputthelegalagreementtogetherandthenneveruseitagainthatsthebestwaytoapproachapartnershipifthatmakessenseYoudontwantittobecomeYousaidyouddothiswesaidweddothat.Youmoveforwardwithyourpartnershipbybeingabletohaveaconversationandagreewhatsbestratherthanalwaysrelyingonwhatsinalegaldocument.Ithinkthatwayyoucanevolvethepartnershipitdoesntgetstaleyoucanbemoreinnovativeandthatshowyouregoingtogetthemostoutofit.Itsaboutagoodrelationship.BothsideshavegottobefexibleandlistentowhattheotheronessayingandthenyoueventuallygettoasituationwhereyoucanjustpickupthephonetoeachotherandaskadviceoraskforhelpandthatswhenIthinktheyreallycomeintotheirown.MarketingDirectorNewsPublisherPartnershipandEventControllerMedia www.mediator.co.uk28PLAYTOYOURSTRENGTHSRespondentsbelieveitisveryimportanttoplaytotherelevantstrengthsofeachpartner.Itwasagreedthatthemostsuccessfulpartnershipsutilisethestrengthofbothpartiestocreatesomethingmorepowerfulandsuccessfulthantheycouldachievealone.Bybeingclearandstrategicaboutyourownandyourpartnersstrengthsmeansyoucanpotentiallyachieveresultsveryefciently.Westartbylookingathowtoconnectupthetwopartnerstheirmarketingobjectivesmarketingneedstheexperiencefrombothpeoplesperspectiveandthefunctionofeachbusiness.ForexamplecanweprovidepaymentandbankingopportunitiesandassistancetothepartnerSoreallylookatwhateveryonesoferingandpullthatintoonelargepackage.HeadofExperientialMarketingandPartnershipsFinanceBPxRoyalOperaHouse 29HAVEASHAREDVISIONTheimportanceofhavingasharedvisionwasmentionedbythemajorityofrespondents.TheysuggestthebestpartnershipsarebasedonasharedvisionwherejointKPIsareestablishedatthestartalthoughsomemayhavedierentKPIs.Goodpartnershipsareformedwheneachpartnerisfullyinvestedinthepartnershipandthereisawillingnesstoachieveajointgoal.76ofonlinerespondentsfeelthatclarityongoalsandobjectivesforallthepartiesparticipatingmakesforasuccessfulpartnership.Ithinkitsopennessbetweenthebrandandwhattheyretryingtoachieveandthepartnerthatyoureworkingwithintermsofthemedialicensee.ItsabouteveryonecomingtogethertobeclearonwhatthevisionisclearonwhattheKPIsareandwhatsuccesslookslikeandthenworkingouttheroadmap.HeadofGlobalPartnershipsDigitalInnovationAgencyProcterGamblePampersxUnicef RedBullwww.mediator.co.uk30CONCLUSIONFelixBaumgartnerxRedBull 31Thereisafeelingthattheindustryhasbecomesmarteranecessityborneoutofacompetitivemarketplacewhichinturnrequiresasmartmarketingsolution.Atthesametimethereisaneedforthesectortobecomemorestrategic.Ratherthanrelyingupondeliveringsimpletacticalpartnershipspartnershipmarketingaspartofthewiderbusinessstrategyisviewedasthesmartwayofutilisingassetsandgettingthemostoutofbudgets.Partnershipmarketingisseenasaversatiletoolwhichworksacrossmultipletouchpointstodriveengagementcreatingarelevantandintegratedexperiencefortheconsumerbytappingintopassionpoints.Understandingwhatmakestheconsumertickisclearlyattheheartofpartnershipmarketingandthepotentialtocreatesomethingexcitinginnovativeandultimatelyextremelyeectiveissignicant. www.mediator.co.uk32NOHALFMEASURESLong-termstrategicpartnershipsthataredeeplyembodiedwithinabrandsstrategyhavethepotentialtodeliversignicantreturnsinmanydiferentwaysnancialcustomeracquisitionmarketentrybrandbuilding.SuccessfulpartnershipsarebasedonasharedvisionwherejointKPIsareestablishedattheonset.Planningtheroadmapforsuccessfromthebeginningisseenasvitalandidentifyingsuccessispivotaltoprovingreturnoninvestment.Partnershipsrequirehardworktimeandefortbutthebenetsoutweighthiscommitmentthemostsuccessfulpartnershipsareformedwheneachpartnerinvestsfully.GETTHERIGHTEXPERTISEONBOARDPartnershipactivityislikelytobecomemorecommonplaceinthefutureandthewidermarketplacewilldiscovernewopportunitiesascomplementarybrandsworktogether.Alreadywereseeingsomeincrediblepart-nershipsthathavepushedtheindustryfarbeyondpeoplesperceptionsofwhatitcanachieve.Withoutdoubtthereisacommonappreciationthatpartnershipmarketingisahighlyefectivemarketingtoolaslongassomekeyconsiderationsarefollowed.Thebestwaytoensuretheseconsiderationsareattheforefrontofeverycampaignistogettherightexpertiseonboardfromthestart.Theskillsettoolsandresourcestoefectivelydevelopapartnershipmarketingcampaignarelikelytocomefromanagencywhocanprovidesupportguidanceandtheall-impor-tantmiddle-groundtoensuresuccess. www.mediator.co.uk33Businessesaregettingmuchbetteratmeasuringpartnershipsandaremuchsmarterwithit.WejustneedtokeepeducatingthemandremindingthemtomoveawayfromjudgingsuccessonmediavaluesbecausethebeneftsaremuchmuchdeeperthanthatActuallythepowerofpartnershipmarketingisitsabilitytochangepeoplesperceptionsofabrandoverthelongtermandthatisfarfarstronger.Soitsessentialthatpartnershipmarketingismeasuredproperlythatwekeepmovingitforwardandweallkeephighlightingitsbenefts.HeadofExperientialMarketingandPartnershipsFinance www.mediator.co.ukUnderstandingPartnershipMarketing34BACKGROUNDMETHODOLOGYAPPENDIXInMarch2014MediatorcommissionedDipsticksResearchLtdanindependentmarketresearchagencytoconductresearchintoPartnershipMarketing.DipsticksResearchconductedin-depthphoneinterviewswithkeyindustryprofessionalstoexploreperceptionsandunderstandingofpartnershipmarketing.AquantitativestudywasalsoconductedinMarch2014withdigitalinterviewslledoutbyindustryprofessionals.Theresultsfromboththein-depthinterviewsandonlinesurveysprovidedthebasisforthecontentofthisreport. www.mediator.co.ukUnderstandingPartnershipMarketing35 www.mediator.co.ukUnderstandingPartnershipMarketing36MediatorCommunicationsLtdTheHatFactory166168aCamdenStreetLondonNW19PT4402074363380letstalkmediator.co.ukwww.mediator.co.uk