A good way to identify opportunities for partnership marketing for B2B SaaS brands is to evaluate your ideal customer profile against potential partners. Is there significant overlap between your customer base and theirs?
For example: as an account-based marketing platform, Triblio includes in their ideal customer profile that their ideal customers must use a form of marketing automation, since the Triblio product would not be a good fit for their business if they don’t.
When looking for potential partnership marketing partners, Triblio would do well to start with marketing automation platforms such as HubSpot, since they have an overlapping ideal customer profile.
What are partnership marketing best practices?
Above all else, two of the most important best practices for partnership marketing are to pick your partners carefully, and to have a clear framework in place for tracking partnerships.
Pick your partners carefully
Picking your partners carefully can mean hand-picking ideal partners for your business, or it could mean setting out criteria that ideal partners should meet.
Have a clear framework in place for tracking partnerships
Without a clear framework for tracking your partnerships, you won’t be able to track the success of your partnership marketing campaigns, and thus won’t be able to optimize and improve your campaigns. A clear framework for tracking partnerships should include the ability to track conversions and traffic from partnerships, and goals that they should hit.
Learn more best practices for partnership marketing.
What are some partnership marketing KPIs to track?
The most important metric of partnership marketing, and any marketing for that matter… is return on investment, or ROI.
ROI can be calculated like so: ROI = return / cost of investment x 100.
For partnership marketing initiatives where there wasn’t spend on specific channels, like for instance a blog swap or an organic social media collaboration, the cost of investment would simply be the time needed to execute the partnership marketing initiative.
Conversion rates are a powerful indicator for marketing campaigns. Conversion rates are generally calculated by dividing the total number of conversions by the total number of clicks on a campaign.
For a partnership marketing campaign, metrics like conversion rates can help to indicate the quality of leads gained from partnerships. If the conversion rate for a partnership marketing campaign is lower than the conversion rate of other campaigns, that may be an indication that you should take a look at whether you’re partnering with the best-fit partners.
Learn more about KPIs for partnership marketing.
Now that you understand what partnership marketing is, how it is uniquely different for B2B SaaS companies, best practices you should follow, and KPIs to track, you can set your partner marketing goals, and plan your partnership marketing initiatives.
Partnership Marketing Initiatives for B2B SaaS Companies
1. Swap Blogs and & Contributions
Blog swaps can be a great foray into partnership marketing for growing B2B SaaS brands.
The benefits of a blog swap can include reaching new prospects, reaching a larger audience, not to mention, the enormous SEO benefits of high quality backlinks. Blog swaps also provide a wonderful venue to articulate the benefit that your product provides to the customers of your partner. For example, you can go into detail about the way that your product can complement your partner’s product, and integrations you may have with it.
Blog Swap Example