Brand partnerships are permeating every aspect of brand-building whether it be media strategy, content creation, sustainability efforts, shopper marketing or product/business model innovation. The opportunities for, and value of, partnerships are greatly enhanced by digital media.
Brand partnerships are two or more brands collaborating for mutual benefit. Partners can be other brands, retailers, not-for-profits, entertainment properties, media properties, events or even stars. For the purposes of this briefing 'brand partnerships', in some respects, overlap with old-fashioned 'sponsorship' of a media property.
1. Brand partnerships are increasingly crucial to deliver growth
Global research conducted by Forrester shows that 76% of companies agree partnerships are key to deliver revenue goals. It found more than half of companies (52%) generate over 20% of revenue from existing partnerships. Companies with mature partnership programmes - the management of a wide range of relationships, including traditional affiliates, influencers, B2B partners, premium publishers, and native software integrations - tend to grow overall revenue almost twice as fast as companies with less mature programmes. These companies are also up to five times more likely to exceed expectations on a range of other business metrics, such as stock price and bottom-line profits.