Impact.com shares how to navigate changes in the economy with brand and publisher partnerships as your compass, steering you to business growth. Also, find out how top brands like JSHealth Vitamins and Zero Co tapped into partnerships as a revenue-generating channel.
The world’s economies have sailed into choppy seas due to the pandemic, supply chain problems, war, and changing economic conditions. The Reserve Bank of Australia forecasts inflation to peak at around 7 percent by the end of 2022, with New Zealand already hitting 7.2 percent in the September 2022 quarter. Many retailers cut expenses when looming financial insecurities affect the market, and the marketing budget often lands first on the chopping block.
Bolstering your marketing department for belt-tightening is crucial. When oil prices caused comparably high inflation in the early 1980s, companies that maintained their marketing budget benefited from up to 140 percent higher sales over the next six years than competitors who cut theirs.
While anxiety often arises during economic uncertainty, there are ways to fight programme cuts and turn adversity into an advantage with low-cost, high-reward affiliate partnerships. Partnerships managers that take the following steps can survive and thrive in the months ahead.
Dive into six ways to weather the storm with partnerships
Partnership marketing offers brands the opportunity to:
Grow brand awareness
Reach new audiences
Improve customer retention
Strengthen market share
Increase conversion rates
Create incremental avenues for growth
Brands that leverage the power of partnerships by tapping into different partner types, including influencers, content creators, and more, are armed with the right tools to help them batten down the hatches during…