Creating High Volume of Sales by Setting up Partnership Marketing Media
Paper editions of magazines are facing tough competition, especially in the South of Belgium where French editions are available at a low price. A way to guarantee a high volume of sales is to set up partnership marketing media.
Solutions
Looking for win win partnership is a way to reinforce your brand and its added value perception. Most of female magazine readers like fashion and famous brands.
Why not negotiating a joint promotion campaign to offer a unique product plus? Product plus are goodies offered with the magazine, sometimes available for free, sometimes given for an additional fee.
Results
Some buzz is launched thanks to the magazine Facebook page and the next month promotional page to start the fire.
Usual promotion is used once the unique product is available in stores: posters, radio spot, teaser to get pics of readers wearing the shirt posted on Facebook. Specific attention will be put on the action but no specific promotional budget will be used.
Cost of the action results in the difference of the additional fee paid by customers minus the production budget.
Used knowledge
A joint sales promotion, also called co-promotion or partnership marketing media, is used in Marketing to reinforce your own communication with a promotional gift from a partner.
Any partnership is a strategic choice where you define the weight each partner will have and to what extent in integration it will go.
In our example, we went for a joint sales promotion.
- Horizontally: equilibrium between partners. The joint action allows each partner to realize a win win operation.
- Vertically: Single operation, limited in time et that has no impact on the marketing plan of the magazine.
Advantages of the joint venture
Opportunity to reach new customers: Complementarity of partners lays on the fact they both target the same public but on differentiated segments. Without that alliance, these segments could hardly be reached (physically or financially).
Brand reinforcement: Brand concept has evolved recently and, in addition to its initial message, customers await activity, creativity and innovation.
This can be done with temporary co-branding actions where the proposed product is original. The chosen partner will generate the added value notion to the magazine.
Starting point for our specific partnership
A fashion brand is interested in being associated to your magazine for a single action. Thus try to target a brand that has customers in common with you but that reaches potential readers you couldn’t convince to buy without the fashionable gift.
Offer to promote their brand for free along with your magazine under one condition: developing a unique fashion product to be proposed to magazine’s buyers for a very small fee (important to value the product as it must be perceived as rare and valuable).
Contract specifications
- The magazine determines the nature of the product (for instance, a T-shirt).
- The fashion brand is responsible for providing several designs (at least 3) before a given date.
- The magazine determines which design they’ll produce while the fashion brand validates the quality of the tissue to be used.
- Once quality, design and colors have been set, a sample still needs to be validated on both sides to produce it.
- The magazine cares to produce a given quantity of t-shirts to be sold along with the magazine while other magazines will be sold alone.
- Promotion is foreseen by the magazine but can also be pushed by some posters printed especially for the fashion stores.
