Hi there, it’s Matthew Larsen from Ultra Growth Marketing. Today we are going to talk about how to form partnerships with other brands, which is one of the best ways to grow your store. Think about this for a second: you have 10,000 customers, and another store has 10,000 customers. You both sell to the same type of customer, but your products are not competitive with each other. Different products, same audience. Instead of spending tons of money on ads, you can each promote each other’s products and essentially exchange customers. That is the purpose of creating partnerships.
How to Form Partnerships With Other Brands.
Forming partnerships with other brands is one of the best ways to grow because you can promote their products to your customers and they can promote your products to their customers. You both have already paid all of the money and done all of the work to acquire the customers originally, so you can now cross promote each other and help each other get customers for no further cost. This is a great way to get several thousand customers in a shorter period of time, essentially for free.
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The steps you take to form a partnership are pretty simple:
1. The first thing you need to do is identify what type of customers you sell to. This should be rather obvious, and you should be able to determine it very quickly.
2. The second thing you need to do is make a list of at least 100 different eCommerce Stores that sell to the same type of customers that you do. You will want to identify at least 100 because some stores will be bigger or smaller than you and won’t want to do it (or you won’t want to do it with them), some may not respond, some might just not “get” the idea (some people are narrow-minded), and that leaves with with a few good candidates left. You want to have at least three to five partners that you can continually swap customers with at any given time.
3. The next step is to find the contact information of each of the 100 different potential partners that you have identified, record them in a spreadsheet for organization and efficiency, and then send each of them an email proposing the idea. It can be helpful if you make a Partner Presentation in the form of a PDF with all the information they will need.
4. The best way you can work together in this way is by doing a joint giveaway. You provide some product to giveaway, and your partner provides some product to giveaway, and you combine these to make a unique offer. Then, make a contest form on both of your websites, and get people to sign up for the contest by entering their email. Make it clear that by submitting their email, they are subscribing to your email list and the email list of your partner. It is important you make it clear for legal purposes.
5. Promote the contest pages on both of your websites and get as many sign ups as possible, then at the end of the contest, you each give each other the emails you collected, and you add it to your email marketing software. Then, their customers will start to get your email sequences, and will eventually convert into customers, and your customers will start to get their email sequences and eventually will convert into customers for them. It is that simple
Summary
How to form partnerships with other brands is truly very simple. All you need to do is identify, contact, make a deal with, and then run a joint contest/giveaway with other brands that sell to the same type of customers that you sell to, but whose products are different from yours and not competitive in any way. This is one of the best and cheapest ways to grow your store.
From one good partnership, you could get a thousand new customers essentially for free. The thing you will want to do is create five, ten, fifteen, twenty five, or even a hundred partnerships. If you do, you will have an extremely steady and cheap source of new customers, and your brand will grow faster than ever before.
Email Me With Any Questions
Thanks, and if you need anything, email me at matt@ultragrowthmarketing.com.
-Matthew Larsen
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