Partnership Cloud Explained
Partnership cloud allows agencies and startups to work together to increase their client’s conversion rates. The idea behind this concept is to create a partnership between an agency, a startup company, and the client that uses the services of both of these companies. In this case, an agency will share its information base with a startup for the purpose of cooperation in business.
- The agency has the opportunity to communicate directly with startups in a mutually beneficial new relationship that they can use to scale their customer base without damaging their business relationships with more traditional customers. This means startups have a new audience for their products, and startups can use the agency to increase their access to more customers.
- A startup gets the benefit of a trusted and up-to-date network of customers to provide them with feedback about their product to improve the offering for those customers.
- The agency can turn the startup into a sub-consultant for the agency, sharing their knowledge or expertise with their client companies and getting a fee for this service.
- The partner becomes further incentivized to help your company grow as they receive a percentage of your revenue as an affiliate commission or referral fee.
- Thepartner startup can offer you a discount on the product they sell if they can cross-sell one of your products or charge less per month because they are using your services.
- The partner startup becomes an advocate for your agency and communicates its value to startups that it has worked with, as well as new startups in their network.
Types of Partnership Clouds
Partnership Clouds for Startups
If you are a startup wanting to use partnership cloud to build your customer base, you need to find a partner agency that can help you get in front of more customers. Once you have a list of 10 or 20 agencies, review them on their website and look at their clients.
Look for agencies that are successful and have a track record of helping their customers get more results from their marketing spend. This means you are looking for an agency that has close to a 10-15% conversion rate based on stated goals such as new customers, new leads, or sales.
Partnership Cloud for Agencies
There are two types of cloud partnership relationships for agencies, one with a startup and one with an agency. There are many different types of sub-consultants, but the two major ones are PPC sub-consultants and a digital marketing sub-consultant.
A PPC sub-consultant is a firm that specializes in PPC ad campaigns for small and medium-sized businesses. Based on the size of your company and the type of ad campaign you need, these agencies can be found in many different locations, but usually at one of two levels: an agency that works from their home office or an agency that works from a regional office.
The advantage to working with an agency that is a PPC sub-consultant is they have far more experience and field expertise and can most likely give you a better deal than if you start your own campaign. The disadvantage to working with an agency is they have a larger overhead due to their staff, offices, and insurance requirements.
Digital marketing sub-consultant
A digital marketing sub-consultant is usually a Digital Marketing Agency that works from their home office. There are many different ways of finding these agencies. Some of the more popular ones are in Google search results (especially Adwords), on web forums, and on industry blogs (such as Search Engine Watch).
The advantage to working with a digital marketing sub-consultant is they are usually more cost-effective as they have fewer expenses. The disadvantage to working with a digital marketing sub-consultant is they have less experience and expertise than an agency.
Partnership Benefits for Startups
There are many tangible benefits of using the platform to grow your customer base, but there are also some intangible benefits. One of the intangible benefits of using partnership cloud is it builds your brand and helps you stand out from your competition.
Working with a partner agency and one or more partners can give you the credibility you need in order to sell more with existing customers and attract new customers to your products.
Partnership Cloud Benefits for Agencies
There are many tangible benefits of using this platform to grow your customer base, but there are also some intangible benefits. Working with a startup and one or more startups can help an agency stand out from the rest of its competitors.
Working with multiple startups gives agencies a chance to see the value in working together. Also, agencies can gain from the experience and expertise that is built up when working with several different startups.
The Bottom Line
There are many intangible benefits of using partnerships cloud to grow your customer base, but there are also some tangible benefits. One of the intangible benefits of using partnership is it builds your brand and helps you stand out from your competition. Working with a partner agency and one or more partners can give you the credibility you need in order to sell more with existing customers and attract new customers to your products.