Cristy Garcia is the Vice President of Marketing at Impact, the leading partnership management platform.
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Let’s say you’re a stranger in town, and you walk into the local pub or corner cafe. Solo, you may get a cool reception. But accompanied by a regular, you’ll likely get a warm welcome (not to mention an extra pint or slice of pie). Entering a new market isn’t all that different, and a local blogger or popular affiliate might just be the wingman you need.
One of the biggest advantages of third-party referral partnerships is that they bring you inside a consumer’s established circle of trust. When you partner with an influencer who audiences respect or a publisher known for editorial standards, you gain instant credibility with audiences, making them more receptive to your message and offers.
The halo effect of partnership can work in new markets and geographies, too. Establishing a local partnership channel either remotely or via a local agency can be one of the most effective, efficient and reliable ways to gain traction in a new region where your brand is an unknown commodity.
Build bridges faster with local partners.
Thanks to ubiquitous e-commerce, consumers are rarely limited to shopping locally, which makes it easier than ever to do business across geographies. However, while you may not have to invest as much capital in physical expansion as you once did, you will have to invest in trust.
Studies show that only 38% of consumers are likely to trust recommendations from a brand, while 61% are likely to trust recommendations from a friend, family member or influencer on social platforms. Referral partnerships help build trust by acting as a bridge between your brand and the consumer, and consumers often see partners like influencers and affiliates as more trustworthy than the brands they promote.
Establishing brand trust can pave the way to successfully introducing your product or service to a new market and developing a good company reputation. Partners with strong ties to the community can help you find new customers and introduce them to what you have to offer. In fact, a good partner network can create an astounding amount of content to educate and activate potential customers.
Partners help avoid cultural missteps and localize the experience.
Local partners will have intimate knowledge of a region's cultural, legal and economic landscape. They can help translate your brand experience into the local context, reflecting local holidays, device preferences, payment platforms, consumer expectations and more. When you’re expanding overseas, addressing these factors is particularly important.
According to global marketing strategist Joel Backaler, local connectors play a critical role in establishing a high level of trust in foreign markets. Interestingly, leveraging the partnership channel may even help you stay compliant with regulations such as the European Union’s General Data Protection Regulation because partnership marketing doesn’t require collecting personal data. You will nonetheless have to navigate the complexities of international payments to your partners and related tax laws.
Here's how to find regional referral partners.
The process of finding and onboarding great partners to escort you into a new market isn’t all that different from recruiting in your home market. Your goals will determine the types of partnerships you want to target. For example, influencers, educators and content creators are perfect partners for upper-funnel education. Traditional affiliates and coupon sites are solid partners to drive potential customers to your website.
Once you know your goals, you can start finding candidates.
• Look at your local competition and the kinds of partnerships they employ.
• Use social listening to identify partners who align with your goals and brand values.
• Tap a local agency whose team will know the best publishers, the most influential influencers, the most popular mobile apps and others you should consider as potential partners.
Before your partners get to work promoting your business and driving traffic, be sure you have your workflow ducks in a row. Here’s a pre-partnership checklist.
• Have you primed the pump? A little PR ahead of time can give brand awareness a head start, making it easier for your partners to make inroads (and money).
• Does your website work? Can it handle the traffic? Has it been translated into the local language by a native? Can it accept payment in the local currency?
• Is your customer support ready to help customers in the local language and during suitable hours? Is your documentation translated into the local language?
• Is your product distribution ready? Can you deliver and then service the product locally?
• Can you manage partners at scale? Consider automating your partnership management to save time as you scale your program to simplify tasks such as mass outreach, multi-currency payments and measurement.
Whether you’re expanding down the road or on the other side of the planet, performance partnerships can accelerate your integration into the local market and community. They’re low-risk and can put your expansion into high gear with less investment and legwork than other channels. The more mature your partnerships program, the greater benefit you’ll likely see.
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