1 / 15

Partnership Marketing - A How To Guide

Edan Gelt: Partnership marketing is about finding people or businesses who have influence because they already have a relationship with a community, group or marketplace, and getting them to introduce your business to their network. The need for a Partnership Marketing program exists when one organization can accomplish their goals more effectively by leveraging the complementary strengths of another organization pursuing a like customer base.

EdanGelt
Download Presentation

Partnership Marketing - A How To Guide

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Increase mall sales WITH GIFT WITH PURCHASE PartnershipsA How To Guide By: Edan Joy Gelt, CMD MBA

  2. Introduction In 2001, EdanGelt, CMD, MBA created an innovative way to increase mall sales. As Marketing Director at Shopco’s Chicago Ridge Mall, she implemented a trade partnership gift-with-purchase program that increased mall-wide sales and became a staple in the shopping center industry. The model she created in 2001, has since been used in shopping centers across the country and has received acknowledgement through the ICSC with multiple MAXI AWARDS for concept creation and implementation.

  3. What is Partnership Marketing?

  4. Partnership Marketing is the process of pairing complimentary businesses to maximize the marketing budget, provide added value to potential customers/clients & increase NOI.

  5. Partnership Samples

  6. Identify your goals • Increase Gift Card Sales • Increase Average Expenditure • Increase Category/Service Sales

  7. Create a value proposition Determine what value you can offer. At Chicago Ridge Mall in 2001, I was looking to cover a 60’ barricade. Not having the budget to do much with it, I repositioned it as an asset. I was thus offering a 60’ barricade that would gain exposure to 12 million each year. I also spent a decent amount on seasonal advertising (direct mail, mall signage, e-news, table tents, radio buys, etc) and could offer inclusion in already budgeted for advertising.

  8. Aligning Goals/with Value Proposition: My average shopper expenditure at the time was $80 but I wanted to increase it to $100 (the ICSC average). Although gift with purchase programs worked, the cost to acquire a gift the shoppers would value would be too costly – at least $10. $10 x 1,000 is a $10k spend! If I want my shoppers to spend $20 more, $100 total, the value of the gift must be AT LEAST 10% of the total expenditure – in this sample, $10. For example, you won’t spend $20 more to get a $1 item but you might for a $10 item.

  9. Calculate your trade Value I am willing to offer a 60’ wall and inclusion on a mailer going to 50k homes, 20 signs, 200 table tents and the value is $45k. I am looking for a minimum of 1,000 items valued at $10 ore more.

  10. Tying it all Together Based on the average spend – I needed to secure a partner that would offer a perceived value of $10 or more. Spend $100 and get a FREE X. Reach out to your retailers, restaurants and local entertainment destinations to see who would be willing to trade $10K in merchandise, food or tickets to have use (in my example) of a 60’ mural, inclusion in 50k mailers, 200 table tents, 20 mall signs etc.

  11. Identify potential partners Based on the value proposition, determine who would make strong partners. Look at your target market and decide what type of partner you are looking for. Families with children? Gear young and choose kid’s based entertainment venues. Target is upper class, no children? Look for higher end options – theaters, food, etc.

  12. Compile a list of complimentary partners First identify any restaurants or entertainment attractions within your shopping center geared towards your target. If there isn’t interest, identify attractions or restaurants outside your center. Create a list that includes the name of the venue and find out who is the decision maker (get a name and email).

  13. Create a Win-win Proposal • Clearly spell out what you are offering – a line item of the assets you are offering and its value • NOTE HOW IT WILL BENEFIT YOUR PARTNER – ie…exposure to 13million, brand awareness, ancillary purchases etc. • Then include what you are asking for: 1,000 appetizers, 1,000 tickets to the zoo, 1,000 $10 gift cards to x retailers.

  14. Listen & Persistence If you are unable to get a partner, re-look at your proposal. Are you offering something of value to your partner? Does your target market line-up with the partner you are approaching? Are you asking too much? Are you talking to the wrong person? If you get continual “no’s”, ask questions. Find out what the problem is and adjust.

  15. Need Help? EdanGelt, CMD, MBA creates valuable partnerships. For marketing strategy or partnership consulting, visit https://www.linkedin.com/in/edan-joy-gelt/ Areas of expertise include shopping centers, retailers, entertainment attractions, Med-Spas, small business, mixed-use and residential real-estate.

More Related