How To Growth Hack Using Partnerships: An Online Marketing Strategy

Growth hacking is an online marketing strategy for anyone wanting quick growth for their business in the realm of the Internet. Doing it through partnership, the entire point is to grow not only your audience but also uptake in what you have to offer while marketing your product or service.

You do well, your product or service works and you have good feedback from your users and buyers. But why do you need a partner? The reason is simple. You have a target demographic, but you won’t reach even a small percentage of them by word of mouth and recommendation alone. Through partnership, you reach a whole range of people who have never even looked for what you offer and perhaps they never even realized that they need it in their lives. By reaching these people, you are enhancing word of mouth and exchanging services between entities. Now, are you ready to know how to do growth hacking through partnerships? In this online marketing strategy, try some suggested unfussy great ideas.

1. Choose your ideal partner. It is as true in online marketing as it is in life that you need to choose carefully. You need to select your partner not only for what they can do for you but what you can do for him too. You also need to ensure that while your products and services are compatible, they are in no means comparative.The partnership should be symbiotic in an ideal world wherein each partner gives and receives equally in benefits.

2. Approach the new partner. When approaching a new potential partner in online marketing, you want to ensure that you offer him a solution before asking anything in return. What can you offer him? Do you offer website building support since he needs assistance for website hosting service? You will get exposure to his users while he reduces the staffing requirement for customer service. Do you sell apps compatible with his software that he hasn’t thought of yet? There is payment, but its payment in kind and a lot better for a start-up than huge expenditures on marketing campaigns.

3. Weigh the pros and cons. You need to weigh the pros and cons of growth hacking as an online marketing strategy. This may give you access to exposure of wealth since you have exposure to people who will buy or use your product. Being established through marketing, these individuals may want access to your demographic and they may want more from you than an exposure to a relatively small user base. Will your start-up get lost in a great machine or will it stand out?

4. Complement each other. This is not marriage, so it is not a requirement to maintain only a single partnership and remain with it for life. Again to succeed in marketing, you need to choose new partners carefully, more so than your initial partner. To growth hack, you approach different partners and you want them to complement your product or service, but they need to be different from each other. When approaching a second partner, the existence of additional partners could either be a bonus or detriment, depending on their products or services.

Can you offer even further exposure to your new partner (and your original one) by connecting with another? Is their product compatible with both you and your partner, or is the one competing with the other? But competition is not always a bad thing. Social media and blog sites are perfect examples of marketing since these have the ability to link articles and blog posts to any number of social media sites.

Growth hacking with partners can be extremely rewarding in terms of quick growth in online marketing. You receive more than an advert on their website, which may receive a click or not. When you use this online marketing strategy, you don’t only get exposure to new clients but you also receive an endorsement from your partner. We are back again to word of mouth and recommendation as forms of marketing, but when a partner entity recommends you, it spreads further from one user to another.