Companies exploring a range of marketing channels to expand their user base is no new concept. Understanding these channels and using them effectively however, is a different ball game.
Online partnerships have, without question, been an integral part of companies improving their online presence, and with good reason. Many online partnerships can include (but are not limited to):
- Affiliate marketing
- Sponsorships
- Co-branding
- Link-building
- Widget marketing
Few companies can implement these partnerships well but recently Red Bull and GoPro have done just that. The new 2016 partnership has given both companies wings (pardon the pun) as we see the companies have shared content rights on co-production. Allowing content to be distributed on both RedBull’s and GoPro’s digital channels. A bold Co-branding move will ensure both companies growth will go further as their user bases come together.
But these two lifestyle giants haven’t been the only companies to come together to form a Goliath of an online presence…
Smaller start-up companies have also seen the benefits of utilising online channels and have jumped on the band wagon. One of the most notable of which could be the relatively new start-up Gymshark, a fitness and lifestyle clothing brand.
Gymshark has built up their user base and online presence almost solely through the use of social media and its influencers. Created in 2012 by a group of ambitious teenagers, the company now has a social media following of over 3 million users while selling their product in over 131 countries. With their main source of sales being through influencer or ‘affiliate’ endorsements, of whom are on a salary and can be seen wearing and pushing their product.
The rapid growth of Gymshark is testament to the effectiveness of affiliate marketing and sponsorships in the current digital marketing climate. With many studies supporting the effectiveness of such methods in the last few years for the growth of a company.
However these collaborations of online channels do not always have to be big affairs. Nikon displayed this excellently this year by teaming up with the Telegraph by providing them with their newly released DSLR camera’s for them to shoot a range of digital content including:
- An interactive gallery that captures two professional photographers’ experiences behind the scenes at the tomato-throwing festival La Tomatina
- Online features offer expert advice on mastering tricky photography styles and shots
- Video content on what it was like to photograph the world’s biggest food fight
- Digital distribution also includes native iAds and features on Apple News, plus the Telegraph’s Live app
- A cover wrap of Telegraph Magazine on 18 November frames the story of La Tomatina in more detail
With both companies displaying the creative energy brought about by first time link-building, it allows the potential for bigger and more exciting content to come our way in the future, while also inciting other companies to reach out and expand their reach and user base.
But it’s not just new start-ups that have discovered the benefits of online partnerships, academic papers have long noted the key concepts that come from a symbiotic partnership:
- Creating a Win – Win situation for both companies: A truly effective online partnership requires that both parties receive similar levels of growth and exposure that allows for a mutually beneficial relationship as they move forward.
- Opens new channels for expansion: Companies crossing over to utilise each others social media platforms and following, allows growth via one another in areas where they may be lacking (e.g. a company who’s main exposure is via electronic words of mouth can be put into contact with affiliates that they can also partner with)
- Can coordinate multi-product departments: Partnerships don’t just allow for increased exposure, but also the chance for companies to expand into a range of different products and services. This allows their target market to increase exponentially.
Online partnerships are just one aspect of a wide range of marketing channels that marketers must learn to make effective use of if their businesses are to thrive in a rapidly expanding online environment.